Caterpillar Inc. (NYSE:CAT) Shares Acquired by Jackson Square Capital LLC

Jackson Square Capital LLC boosted its stake in Caterpillar Inc. (NYSE:CAT) by 33.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,581 shares of the industrial products company’s stock after acquiring an additional 4,182 shares during the quarter. Caterpillar comprises about 1.6% of Jackson Square Capital LLC’s holdings, making the stock its 17th largest holding. Jackson Square Capital LLC’s holdings in Caterpillar were worth $6,485,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CAT. Bbjs Financial Advisors LLC acquired a new position in shares of Caterpillar in the second quarter worth about $28,000. Financial Connections Group Inc. bought a new stake in shares of Caterpillar in the 2nd quarter valued at approximately $28,000. Fairscale Capital LLC acquired a new stake in shares of Caterpillar during the 2nd quarter valued at approximately $36,000. POM Investment Strategies LLC boosted its holdings in Caterpillar by 2,160.0% in the second 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 period. Finally, TruNorth Capital Management LLC lifted its position in shares of Caterpillar by 215.4% in the 2nd quarter. TruNorth Capital Management LLC now owns 123 shares of the industrial products company’s stock worth $41,000 after buying an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Up 8.8 %

Caterpillar stock opened at $416.97 on Thursday. The firm’s 50 day moving average price is $374.93 and its two-hundred day moving average price is $352.11. The firm has a market cap of $202.19 billion, a PE ratio of 19.33, a P/E/G ratio of 1.86 and a beta of 1.10. Caterpillar Inc. has a twelve month low of $233.57 and a twelve month high of $418.30. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing the consensus estimate of $5.33 by ($0.16). The firm had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.52 EPS. On average, research analysts predict that Caterpillar Inc. will post 21.82 EPS for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be given a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 1.35%. The ex-dividend date is Monday, October 21st. Caterpillar’s payout ratio is 26.15%.

Insiders Place Their Bets

In related news, insider Anthony D. Fassino sold 3,185 shares of the firm’s 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 transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Caterpillar news, insider Cheryl H. Johnson sold 2,975 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total value of $1,018,878.00. Following the completion of the transaction, the insider now owns 15,615 shares of the company’s stock, valued at $5,347,825.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 33,442 shares in the company, valued at approximately $11,750,181.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,792 shares of company stock valued at $3,515,978 over the last quarter. Insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Truist Financial raised their target price on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. UBS Group increased their target price on Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a research report on Monday. Bank of America upped their price target on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Barclays boosted their price objective on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Finally, Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $349.00 to $332.00 in a research note on Monday, October 14th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $358.19.

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.