Caterpillar Inc. (NYSE:CAT) Shares Sold by Boston Family Office LLC

Boston Family Office LLC reduced its position in Caterpillar Inc. (NYSE:CAT) by 3.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,502 shares of the industrial products company’s stock after selling 150 shares during the period. Boston Family Office LLC’s holdings in Caterpillar were worth $1,761,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CAT. Bbjs Financial Advisors LLC purchased a new stake in shares of Caterpillar in the 2nd quarter worth about $28,000. Financial Connections Group Inc. acquired a new position in Caterpillar during the second quarter worth about $28,000. Capital Performance Advisors LLP acquired a new stake in shares of Caterpillar in the third quarter valued at approximately $36,000. Fairscale Capital LLC purchased a new position in shares of Caterpillar during the 2nd quarter worth approximately $36,000. Finally, POM Investment Strategies LLC raised its position in shares of Caterpillar by 2,160.0% during the 2nd 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 last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Truist Financial boosted their target price 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. Robert W. Baird raised their target price on shares of Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. UBS Group increased their price target on Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a research note on Monday, November 4th. Morgan Stanley downgraded Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $349.00 to $332.00 in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Caterpillar has an average rating of “Hold” and a consensus price target of $365.33.

Insiders Place Their Bets

In related news, CAO William E. Schaupp sold 968 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $380.98, for a total value of $368,788.64. Following the completion of the transaction, the chief accounting officer now owns 1,686 shares in the company, valued at $642,332.28. This represents a 36.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Anthony D. Fassino sold 3,185 shares of the firm’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 transaction of $1,119,081.60. Following the transaction, the insider now owns 33,442 shares in the company, valued at $11,750,181.12. This represents a 8.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,774 shares of company stock valued at $8,233,034 over the last three months. Company insiders own 0.29% of the company’s stock.

Caterpillar Stock Performance

CAT stock opened at $397.49 on Monday. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. Caterpillar Inc. has a 12-month low of $246.01 and a 12-month high of $418.50. The stock’s 50 day simple moving average is $386.81 and its 200 day simple moving average is $356.00. The firm has a market cap of $191.91 billion, a P/E ratio of 18.43, a P/E/G ratio of 1.96 and a beta of 1.10.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share 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 for the quarter, compared to the consensus estimate of $16.37 billion. During the same period in the prior year, the company earned $5.52 EPS. Caterpillar’s quarterly revenue was down 4.2% on a year-over-year basis. As a group, equities research analysts predict that Caterpillar Inc. will post 21.67 EPS for the current year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Monday, October 21st were paid a dividend of $1.41 per share. The ex-dividend date was Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.42%. 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.