Millburn Ridgefield Corp Takes Position in Caterpillar Inc. (NYSE:CAT)

Millburn Ridgefield Corp purchased a new position in shares of Caterpillar Inc. (NYSE:CAT) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 356 shares of the industrial products company’s stock, valued at approximately $139,000.

A number of other institutional investors also recently modified their holdings of CAT. DNB Asset Management AS bought a new position in Caterpillar in the second quarter valued at approximately $414,000. Linden Thomas Advisory Services LLC raised its stake in Caterpillar by 13.0% during the second quarter. Linden Thomas Advisory Services LLC now owns 5,282 shares of the industrial products company’s stock worth $1,759,000 after buying an additional 608 shares during the last quarter. Lantz Financial LLC lifted its stake in shares of Caterpillar by 2.9% in the 2nd quarter. Lantz Financial LLC now owns 4,181 shares of the industrial products company’s stock valued at $1,393,000 after purchasing an additional 116 shares during the period. Simplicity Wealth LLC grew its position in shares of Caterpillar by 4.3% during the 2nd quarter. Simplicity Wealth LLC now owns 20,674 shares of the industrial products company’s stock worth $6,886,000 after buying an additional 847 shares during the period. Finally, Csenge Advisory Group grew its holdings in Caterpillar by 3.6% in the second quarter. Csenge Advisory Group now owns 5,887 shares of the industrial products company’s stock worth $1,961,000 after purchasing an additional 203 shares during the period. Institutional investors own 70.98% of the company’s stock.

Insider Transactions at Caterpillar

In other news, insider Anthony D. Fassino sold 6,279 shares of Caterpillar stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $408.59, for a total value of $2,565,536.61. Following the completion of the transaction, the insider now owns 33,565 shares of the company’s stock, valued at $13,714,323.35. The trade was a 15.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lange Bob De sold 12,657 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the sale, the insider now owns 71,107 shares in the company, valued at approximately $29,171,646.75. The trade was a 15.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,868 shares of company stock valued at $9,679,489 in the last three months. 0.29% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CAT shares. Evercore ISI lowered Caterpillar from an “in-line” rating to an “underperform” rating and upped their target price for the stock from $321.00 to $365.00 in a research report on Wednesday, November 13th. StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Citigroup dropped 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. Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $349.00 to $332.00 in a research report on Monday, October 14th. Finally, Truist Financial lifted their target price on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $365.33.

Caterpillar Price Performance

CAT opened at $399.24 on Wednesday. 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 Inc. has a 1 year low of $252.42 and a 1 year high of $418.50. The firm has a market cap of $192.75 billion, a price-to-earnings ratio of 18.51, a PEG ratio of 1.99 and a beta of 1.10. The stock’s 50 day simple moving average is $392.26 and its 200 day simple moving average is $358.40.

Caterpillar (NYSE:CAT) last announced its quarterly 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). The business had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.52 EPS. As a group, analysts predict that Caterpillar Inc. will post 21.67 earnings per share for the current year.

Caterpillar Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Monday, October 21st were given 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 1.41%. Caterpillar’s dividend payout ratio is presently 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.