RFP Financial Group LLC Has $2.24 Million Position in Caterpillar Inc. (NYSE:CAT)

RFP Financial Group LLC grew its position in Caterpillar Inc. (NYSE:CAT) by 98.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,714 shares of the industrial products company’s stock after purchasing an additional 2,834 shares during the period. Caterpillar comprises about 0.7% of RFP Financial Group LLC’s portfolio, making the stock its 26th largest position. RFP Financial Group LLC’s holdings in Caterpillar were worth $2,235,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in CAT. Calton & Associates Inc. bought a new stake in Caterpillar during the third quarter worth about $507,000. Foundations Investment Advisors LLC raised its stake in shares of Caterpillar by 8.9% during the 3rd quarter. Foundations Investment Advisors LLC now owns 6,831 shares of the industrial products company’s stock worth $2,672,000 after purchasing an additional 556 shares in the last quarter. Ledyard National Bank boosted its holdings in shares of Caterpillar by 1.4% in the 3rd quarter. Ledyard National Bank now owns 13,283 shares of the industrial products company’s stock valued at $5,195,000 after buying an additional 179 shares during the last quarter. Precision Wealth Strategies LLC grew its stake in shares of Caterpillar by 9.7% in the third quarter. Precision Wealth Strategies LLC now owns 963 shares of the industrial products company’s stock valued at $377,000 after buying an additional 85 shares in the last quarter. Finally, Waterway Wealth Management LLC increased its holdings in Caterpillar by 9.4% during the third quarter. Waterway Wealth Management LLC now owns 1,636 shares of the industrial products company’s stock worth $640,000 after buying an additional 141 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Activity at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction that occurred on 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 approximately $11,750,181.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were 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 approximately $11,750,181.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Cheryl H. Johnson sold 2,975 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the transaction, the insider now owns 15,615 shares in the company, valued at $5,347,825.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.

Caterpillar Trading Down 1.2 %

NYSE:CAT traded down $4.59 during mid-day trading on Tuesday, hitting $385.89. 384,585 shares of the company’s stock were exchanged, compared to its average volume of 2,631,286. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. Caterpillar Inc. has a fifty-two week low of $223.76 and a fifty-two week high of $403.60. The company has a 50 day simple moving average of $364.94 and a 200-day simple moving average of $350.30. The firm has a market capitalization of $188.72 billion, a P/E ratio of 17.63, a PEG ratio of 1.85 and a beta of 1.10.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, topping the consensus estimate of $5.53 by $0.46. The company had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. Caterpillar’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.55 earnings per share. As a group, research analysts expect that Caterpillar Inc. will post 21.91 earnings per share for the current year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be paid a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Monday, October 21st. Caterpillar’s dividend payout ratio is presently 25.46%.

Analysts Set New Price Targets

CAT has been the subject of several research reports. Evercore ISI cut their price target on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Bank of America raised their target price on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Raymond James initiated coverage on Caterpillar in a report on Friday, June 28th. They set a “market perform” rating for the company. StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Finally, Citigroup lifted their price objective on shares of Caterpillar from $380.00 to $445.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $355.50.

Caterpillar 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.