Icon Wealth Advisors LLC Has $568,000 Holdings in Caterpillar Inc. (NYSE:CAT)

Icon Wealth Advisors LLC lowered its stake in shares of Caterpillar Inc. (NYSE:CAT) by 16.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,453 shares of the industrial products company’s stock after selling 290 shares during the period. Icon Wealth Advisors LLC’s holdings in Caterpillar were worth $568,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC boosted its position in shares of Caterpillar by 39,534.0% during the third quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock worth $8,356,930,000 after purchasing an additional 2,131,276 shares in the last quarter. Altshuler Shaham Ltd grew its stake in Caterpillar by 3,319.7% in the second quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company’s stock valued at $91,606,000 after acquiring an additional 266,969 shares during the period. Swedbank AB bought a new stake in shares of Caterpillar in the first quarter worth about $97,042,000. National Bank of Canada FI raised its position in shares of Caterpillar by 104.6% during the second quarter. National Bank of Canada FI now owns 391,428 shares of the industrial products company’s stock worth $128,768,000 after purchasing an additional 200,134 shares during the period. Finally, Strategic Financial Concepts LLC grew its position in shares of Caterpillar by 28,321.2% in the 2nd quarter. Strategic Financial Concepts LLC now owns 200,654 shares of the industrial products company’s stock valued at $668,000 after purchasing an additional 199,948 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CAT. JPMorgan Chase & Co. lifted their price target on shares of Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Truist Financial upped their target price on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Bank of America lifted their price target on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Citigroup reduced their price objective on Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Finally, Morgan Stanley cut Caterpillar from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $349.00 to $332.00 in a research note on Monday, October 14th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $365.33.

Caterpillar Stock Up 2.0 %

Shares of CAT opened at $397.49 on Friday. The firm’s 50-day simple moving average is $386.81 and its 200 day simple moving average is $355.84. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40. The firm has a market cap of $191.91 billion, a P/E ratio of 18.43, a price-to-earnings-growth ratio of 1.92 and a beta of 1.10. Caterpillar Inc. has a 52 week low of $246.01 and a 52 week high of $418.50.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The firm had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. During the same period in the previous year, the business posted $5.52 earnings per share. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, analysts forecast that Caterpillar Inc. will post 21.68 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st were paid a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.42%. The ex-dividend date was Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is 26.15%.

Insider Buying and Selling at Caterpillar

In related news, insider Lange Bob De sold 12,657 shares of Caterpillar stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $410.25, for a total value of $5,192,534.25. Following the transaction, the insider now directly owns 71,107 shares of the company’s stock, valued at $29,171,646.75. This trade represents a 15.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Daniel M. Dickinson sold 1,300 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $418.00, for a total value of $543,400.00. Following the completion of the sale, the director now directly owns 4,976 shares in the company, valued at approximately $2,079,968. This represents a 20.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,774 shares of company stock valued at $8,233,034 in the last quarter. Company insiders own 0.29% of the company’s stock.

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.