Hengehold Capital Management LLC Boosts Stake in Caterpillar Inc. (NYSE:CAT)

Hengehold Capital Management LLC increased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 7.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,115 shares of the industrial products company’s stock after purchasing an additional 80 shares during the quarter. Hengehold Capital Management LLC’s holdings in Caterpillar were worth $436,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Acadian Asset Management LLC raised its stake in shares of Caterpillar by 17.2% in the 1st quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock valued at $3,308,000 after acquiring an additional 1,327 shares during the period. Alpha Cubed Investments LLC lifted its stake in Caterpillar by 5.6% during the third quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock worth $45,591,000 after purchasing an additional 6,212 shares in the last quarter. Diversify Advisory Services LLC purchased a new position in shares of Caterpillar during the first quarter worth $926,000. First Affirmative Financial Network purchased a new stake in shares of Caterpillar in the 3rd quarter valued at $204,000. Finally, Natixis Advisors LLC lifted its stake in Caterpillar by 3.5% during the 2nd quarter. Natixis Advisors LLC now owns 278,259 shares of the industrial products company’s stock worth $92,688,000 after acquiring an additional 9,321 shares in the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Caterpillar news, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was acquired at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the purchase, the director now owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Gerald Johnson acquired 100 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were bought at an average cost of $338.59 per share, with a total value of $33,859.00. Following the purchase, the director now owns 2,842 shares of the company’s stock, valued at $962,272.78. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the completion of the sale, the insider now owns 15,615 shares of the company’s stock, valued at $5,347,825.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Morgan Stanley cut 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 report on Monday. Truist Financial upped their price objective on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Evercore ISI decreased their target price on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Citigroup upped their price target on Caterpillar from $380.00 to $445.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, 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. Three equities 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. According to MarketBeat, Caterpillar presently has an average rating of “Hold” and an average price target of $355.50.

Caterpillar Stock Performance

NYSE CAT opened at $395.32 on Thursday. The company has a fifty day moving average of $361.58 and a two-hundred day moving average of $349.92. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78. Caterpillar Inc. has a 1 year low of $223.76 and a 1 year high of $403.60. The company has a market capitalization of $193.33 billion, a PE ratio of 17.77, a P/E/G ratio of 1.85 and a beta of 1.10.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 EPS 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 analyst estimates of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The firm’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.55 earnings per share. As a group, analysts expect that Caterpillar Inc. will post 21.91 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently declared 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 1.43%. The ex-dividend date is Monday, October 21st. Caterpillar’s dividend payout ratio is currently 25.46%.

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.