Schear Investment Advisers LLC Boosts Stake in Caterpillar Inc. (NYSE:CAT)

Schear Investment Advisers LLC grew its stake in Caterpillar Inc. (NYSE:CAT) by 10.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,628 shares of the industrial products company’s stock after buying an additional 647 shares during the period. Caterpillar accounts for 1.6% of Schear Investment Advisers LLC’s holdings, making the stock its 16th biggest position. Schear Investment Advisers LLC’s holdings in Caterpillar were worth $2,592,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Seizert Capital Partners LLC raised its holdings in shares of Caterpillar by 31.1% in the third quarter. Seizert Capital Partners LLC now owns 12,084 shares of the industrial products company’s stock worth $4,726,000 after buying an additional 2,870 shares during the last quarter. Turtle Creek Wealth Advisors LLC raised its holdings in shares of Caterpillar by 1.5% during the third quarter. Turtle Creek Wealth Advisors LLC now owns 20,114 shares of the industrial products company’s stock worth $7,867,000 after purchasing an additional 291 shares during the last quarter. KPP Advisory Services LLC purchased a new position in shares of Caterpillar during the third quarter worth $231,000. Coastline Trust Co raised its holdings in shares of Caterpillar by 4.4% during the third quarter. Coastline Trust Co now owns 6,376 shares of the industrial products company’s stock worth $2,494,000 after purchasing an additional 271 shares during the last quarter. Finally, Gouws Capital LLC raised its holdings in shares of Caterpillar by 9.6% during the third quarter. Gouws Capital LLC now owns 12,657 shares of the industrial products company’s stock worth $4,950,000 after purchasing an additional 1,110 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Down 0.8 %

Shares of NYSE CAT opened at $384.07 on Friday. The company’s 50-day simple moving average is $381.86 and its 200-day simple moving average is $354.07. Caterpillar Inc. has a 52-week low of $241.81 and a 52-week high of $418.50. The firm has a market cap of $185.43 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 1.91 and a beta of 1.10. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The business had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The business’s revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.52 earnings per share. Equities analysts predict that Caterpillar Inc. will post 21.69 EPS for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be given a dividend of $1.41 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.47%. Caterpillar’s payout ratio is presently 26.15%.

Insider Buying and Selling

In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The trade was a 8.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lange Bob De sold 12,657 shares of Caterpillar stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the transaction, the insider now directly owns 71,107 shares in the company, valued at $29,171,646.75. This trade represents a 15.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,749 shares of company stock worth $9,251,912. 0.29% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Truist Financial raised their target price on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. raised their target price on shares of Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Evercore ISI lowered shares of Caterpillar from an “in-line” rating to an “underperform” rating and raised their price target for the company from $321.00 to $365.00 in a research report on Wednesday. UBS Group raised their price target on shares of Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a research report on Monday, November 4th. Finally, Bank of America raised their price target on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $365.33.

About Caterpillar

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.