StoneX Group Inc. Sells 993 Shares of Caterpillar Inc. (NYSE:CAT)

StoneX Group Inc. trimmed its holdings in Caterpillar Inc. (NYSE:CAT) by 6.9% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 13,309 shares of the industrial products company’s stock after selling 993 shares during the quarter. StoneX Group Inc.’s holdings in Caterpillar were worth $5,205,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Pitcairn Co. grew its stake in shares of Caterpillar by 2.5% in the third quarter. Pitcairn Co. now owns 3,961 shares of the industrial products company’s stock worth $1,549,000 after acquiring an additional 96 shares during the period. Palisade Asset Management LLC boosted its holdings in Caterpillar by 0.3% in the third quarter. Palisade Asset Management LLC now owns 9,480 shares of the industrial products company’s stock worth $3,708,000 after purchasing an additional 33 shares during the last quarter. Canopy Partners LLC grew its position in Caterpillar by 8.2% in the 3rd quarter. Canopy Partners LLC now owns 2,485 shares of the industrial products company’s stock worth $972,000 after purchasing an additional 189 shares during the period. Kingsview Wealth Management LLC raised its stake in Caterpillar by 0.7% during the 3rd quarter. Kingsview Wealth Management LLC now owns 11,736 shares of the industrial products company’s stock valued at $4,590,000 after buying an additional 78 shares during the last quarter. Finally, Cerity Partners LLC lifted its holdings in shares of Caterpillar by 10.3% during the 3rd quarter. Cerity Partners LLC now owns 233,874 shares of the industrial products company’s stock valued at $91,473,000 after buying an additional 21,848 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Up 2.0 %

Shares of NYSE:CAT opened at $397.49 on Friday. The firm has a market capitalization of $191.91 billion, a PE ratio of 18.43, a price-to-earnings-growth ratio of 1.92 and a beta of 1.10. The business has a 50 day simple moving average of $386.81 and a two-hundred day simple moving average of $355.84. Caterpillar Inc. has a 1 year low of $246.01 and a 1 year high of $418.50. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86.

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

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Investors 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 of this dividend was Monday, October 21st. Caterpillar’s dividend payout ratio is presently 26.15%.

Insider Activity at Caterpillar

In related news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the sale, the insider now directly owns 33,442 shares in the company, valued at $11,750,181.12. The trade was a 8.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Gerald Johnson bought 100 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were acquired at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the acquisition, the director now owns 2,842 shares in the company, valued at $962,272.78. This represents a 3.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 20,774 shares of company stock worth $8,233,034 in the last 90 days. 0.29% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently commented on the company. UBS Group lifted their price objective on Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a report on Monday, November 4th. Barclays increased their price target on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Citigroup reduced their price objective on Caterpillar from $445.00 to $435.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Truist Financial increased their target price on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Bank of America upped their price target on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $365.33.

Caterpillar Company Profile

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.