Cerity Partners LLC Has $91.47 Million Stake in Caterpillar Inc. (NYSE:CAT)

Cerity Partners LLC raised its holdings in Caterpillar Inc. (NYSE:CAT) by 10.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 233,874 shares of the industrial products company’s stock after purchasing an additional 21,848 shares during the period. Cerity Partners LLC’s holdings in Caterpillar were worth $91,473,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Bbjs Financial Advisors LLC bought a new stake in shares of Caterpillar in the 2nd quarter valued at approximately $28,000. Financial Connections Group Inc. bought a new stake in Caterpillar in the second quarter valued at $28,000. Fairscale Capital LLC bought a new position in shares of Caterpillar during the second quarter valued at $36,000. Capital Performance Advisors LLP acquired a new stake in shares of Caterpillar in the 3rd quarter valued at $36,000. Finally, POM Investment Strategies LLC grew its holdings in shares of Caterpillar by 2,160.0% in the 2nd quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 108 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CAT shares. JPMorgan Chase & Co. increased their price objective on shares of Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Citigroup dropped their target price on Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. UBS Group raised their price target on Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a report on Monday, November 4th. Truist Financial boosted their price objective on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Caterpillar presently has a consensus rating of “Hold” and a consensus target price of $365.33.

Caterpillar Stock Up 2.0 %

CAT stock opened at $397.48 on Friday. The company has a market cap of $191.90 billion, a price-to-earnings ratio of 18.43, a P/E/G ratio of 1.92 and a beta of 1.10. Caterpillar Inc. has a twelve month low of $246.01 and a twelve month high of $418.50. The business has a 50 day moving average price of $386.81 and a two-hundred day moving average price of $355.84. 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 announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 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 firm had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. During the same period last year, the business earned $5.52 EPS. The business’s revenue was down 4.2% on a year-over-year basis. Analysts anticipate that Caterpillar Inc. will post 21.68 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st were issued a dividend of $1.41 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.42%. Caterpillar’s dividend payout ratio is presently 26.15%.

Insider Buying and Selling at Caterpillar

In other news, CAO William E. Schaupp sold 968 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $380.98, for a total transaction of $368,788.64. Following the sale, the chief accounting officer now directly owns 1,686 shares in the company, valued at approximately $642,332.28. The trade was a 36.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gerald Johnson acquired 100 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was acquired at an average price of $338.59 per share, with a total value of $33,859.00. Following the acquisition, the director now owns 2,842 shares in the company, valued at $962,272.78. The trade was 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 valued at $8,233,034 in the last three months. Corporate insiders own 0.29% of the company’s stock.

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.