SevenBridge Financial Group LLC Purchases 308 Shares of Caterpillar Inc. (NYSE:CAT)

SevenBridge Financial Group LLC grew its position in shares of Caterpillar Inc. (NYSE:CAT) by 6.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,272 shares of the industrial products company’s stock after buying an additional 308 shares during the quarter. SevenBridge Financial Group LLC’s holdings in Caterpillar were worth $2,091,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Legal & General Group Plc increased its holdings in Caterpillar by 2.0% during the 2nd quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock valued at $1,286,582,000 after purchasing an additional 75,973 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Caterpillar by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,227,378 shares of the industrial products company’s stock valued at $1,262,290,000 after buying an additional 8,088 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Caterpillar by 5.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock valued at $1,022,488,000 after buying an additional 165,358 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Caterpillar by 39,534.0% during the 3rd 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 acquiring an additional 2,131,276 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in Caterpillar by 10.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,108,817 shares of the industrial products company’s stock valued at $702,431,000 after acquiring an additional 198,123 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CAT shares. Truist Financial increased their price target on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Evercore ISI lowered Caterpillar from an “in-line” rating to an “underperform” rating and increased their price objective for the company from $321.00 to $365.00 in a research report on Wednesday, November 13th. Bank of America upped 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. UBS Group boosted 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. Finally, Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $349.00 to $332.00 in a research note on Monday, October 14th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $365.33.

Insider Activity

In other news, Director Gerald Johnson bought 100 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were purchased at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the purchase, the director now owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. The trade was a 3.65 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lange Bob De sold 12,657 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $29,171,646.75. This represents a 15.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,774 shares of company stock worth $8,233,034 over the last quarter. 0.29% of the stock is currently owned by company insiders.

Caterpillar Price Performance

Shares of CAT stock opened at $397.49 on Friday. The firm has a market capitalization of $191.91 billion, a price-to-earnings ratio of 18.43, a price-to-earnings-growth ratio of 1.92 and a beta of 1.10. Caterpillar Inc. has a 12-month low of $246.01 and a 12-month high of $418.50. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. The firm has a fifty day moving average of $386.81 and a 200-day moving average of $355.92.

Caterpillar (NYSE:CAT) last posted its earnings results 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 during the quarter, compared to analyst estimates of $16.37 billion. During the same period in the previous year, the firm posted $5.52 earnings per share. The firm’s revenue was down 4.2% on a year-over-year basis. On average, equities research analysts forecast that Caterpillar Inc. will post 21.68 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date was Monday, October 21st. Caterpillar’s payout ratio is currently 26.15%.

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.