Ballast Advisors LLC Lowers Position in Caterpillar Inc. (NYSE:CAT)

Ballast Advisors LLC reduced its position in Caterpillar Inc. (NYSE:CAT) by 3.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,701 shares of the industrial products company’s stock after selling 110 shares during the period. Ballast Advisors LLC’s holdings in Caterpillar were worth $1,056,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Bbjs Financial Advisors LLC acquired a new position in shares of Caterpillar in the second quarter worth about $28,000. Financial Connections Group Inc. purchased a new position in shares of Caterpillar in the 2nd quarter valued at about $28,000. Fairscale Capital LLC acquired a new position in Caterpillar in the 2nd quarter worth about $36,000. POM Investment Strategies LLC boosted its position in Caterpillar by 2,160.0% during 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 in the last quarter. Finally, TruNorth Capital Management LLC grew its holdings in Caterpillar by 215.4% in the second quarter. TruNorth Capital Management LLC now owns 123 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 84 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CAT has been the subject of several research analyst reports. Truist Financial upped their target price on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Morgan Stanley cut shares of Caterpillar from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $349.00 to $332.00 in a research report on Monday, October 14th. Bank of America lifted their target price on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research report on Monday, September 30th. StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Evercore ISI lowered their price objective on Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $358.19.

Caterpillar Stock Up 7.6 %

NYSE CAT opened at $412.35 on Wednesday. The business’s fifty day simple moving average is $373.55 and its 200-day simple moving average is $351.65. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. The firm has a market cap of $199.95 billion, a PE ratio of 17.77, a P/E/G ratio of 1.86 and a beta of 1.10. Caterpillar Inc. has a 52 week low of $233.57 and a 52 week high of $413.00.

Caterpillar (NYSE:CAT) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share 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 analyst estimates of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.52 earnings per share. As a group, equities analysts anticipate that Caterpillar Inc. will post 21.82 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be paid a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is 26.15%.

Insider Transactions at Caterpillar

In related news, CAO William E. Schaupp sold 968 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $380.98, for a total transaction of $368,788.64. Following the completion of the transaction, the chief accounting officer now directly owns 1,686 shares in the company, valued at $642,332.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Caterpillar news, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total value of $1,018,878.00. Following the sale, the insider now directly owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO William E. Schaupp sold 968 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $380.98, for a total transaction of $368,788.64. Following the transaction, the chief accounting officer now owns 1,686 shares of the company’s stock, valued at approximately $642,332.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,792 shares of company stock worth $3,515,978. 0.29% of the stock is currently owned by insiders.

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.