Obsidian Personal Planning Solutions LLC Cuts Holdings in Caterpillar Inc. (NYSE:CAT)

Obsidian Personal Planning Solutions LLC trimmed its holdings in Caterpillar Inc. (NYSE:CAT) by 10.0% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,548 shares of the industrial products company’s stock after selling 172 shares during the quarter. Obsidian Personal Planning Solutions LLC’s holdings in Caterpillar were worth $582,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Legal & General Group Plc boosted its holdings in shares of 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 acquiring an additional 75,973 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Caterpillar by 5.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock worth $1,022,488,000 after acquiring an additional 165,358 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Caterpillar by 39,534.0% in the third quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock valued at $8,356,930,000 after purchasing an additional 2,131,276 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Caterpillar by 10.4% in the second quarter. Ameriprise Financial Inc. now owns 2,108,817 shares of the industrial products company’s stock valued at $702,431,000 after purchasing an additional 198,123 shares in the last quarter. Finally, Capital Research Global Investors boosted its stake in Caterpillar by 6.3% during the first quarter. Capital Research Global Investors now owns 2,020,100 shares of the industrial products company’s stock worth $740,225,000 after buying an additional 119,326 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Insider Activity at Caterpillar

In related news, CAO William E. Schaupp sold 968 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $380.98, for a total value of $368,788.64. Following the transaction, the chief accounting officer now owns 1,686 shares in the company, valued at $642,332.28. The trade was a 36.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lange Bob De sold 12,657 shares of Caterpillar stock in a transaction 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 completion of the sale, the insider now directly owns 71,107 shares of the company’s stock, valued at approximately $29,171,646.75. This trade represents a 15.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,749 shares of company stock valued at $9,251,912 over the last three months. 0.29% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Robert W. Baird lifted their price objective on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. Truist Financial upped their target price on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Bank of America boosted their price target on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, Evercore ISI downgraded 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 note on Wednesday. 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $365.33.

Caterpillar Stock Down 0.8 %

NYSE:CAT opened at $384.07 on Friday. The stock’s fifty day moving average price is $381.86 and its two-hundred day moving average price is $354.20. The company has a market cap of $185.43 billion, a price-to-earnings ratio of 17.81, a P/E/G ratio of 1.90 and a beta of 1.10. Caterpillar Inc. has a 52-week low of $241.81 and a 52-week high of $418.50. 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 released 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 return on equity of 59.09% and a net margin of 16.26%. The firm had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. During the same quarter last year, the company posted $5.52 EPS. Caterpillar’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, analysts anticipate that Caterpillar Inc. will post 21.68 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be issued a dividend of $1.41 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.47%. Caterpillar’s dividend payout ratio is presently 26.15%.

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.