Harbour Investments Inc. Acquires 182 Shares of Caterpillar Inc. (NYSE:CAT)

Harbour Investments Inc. grew its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 2.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,548 shares of the industrial products company’s stock after acquiring an additional 182 shares during the quarter. Harbour Investments Inc.’s holdings in Caterpillar were worth $2,561,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Apollon Wealth Management LLC raised its holdings in shares of Caterpillar by 0.8% during the 3rd quarter. Apollon Wealth Management LLC now owns 22,841 shares of the industrial products company’s stock valued at $8,934,000 after buying an additional 180 shares in the last quarter. Everhart Financial Group Inc. raised its holdings in shares of Caterpillar by 13.2% during the 3rd quarter. Everhart Financial Group Inc. now owns 3,856 shares of the industrial products company’s stock valued at $1,508,000 after buying an additional 450 shares in the last quarter. Lynx Investment Advisory raised its holdings in shares of Caterpillar by 6.5% during the 3rd quarter. Lynx Investment Advisory now owns 1,076 shares of the industrial products company’s stock valued at $421,000 after buying an additional 66 shares in the last quarter. Tacita Capital Inc raised its holdings in shares of Caterpillar by 23.9% during the 3rd quarter. Tacita Capital Inc now owns 259 shares of the industrial products company’s stock valued at $101,000 after buying an additional 50 shares in the last quarter. Finally, Buckingham Capital Management Inc. increased its stake in Caterpillar by 40.0% in the 3rd quarter. Buckingham Capital Management Inc. now owns 1,568 shares of the industrial products company’s stock worth $613,000 after purchasing an additional 448 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Trading Down 0.9 %

Shares of NYSE CAT opened at $393.08 on Wednesday. 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 business has a fifty day simple moving average of $377.62 and a two-hundred day simple moving average of $353.01. The firm has a market cap of $189.78 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 1.94 and a beta of 1.10. Caterpillar Inc. has a twelve month low of $238.88 and a twelve month high of $418.50.

Caterpillar (NYSE:CAT) last posted its quarterly 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 for the quarter, compared to analysts’ expectations of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The firm’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 posted $5.52 EPS. Analysts expect that Caterpillar Inc. will post 21.69 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be issued a $1.41 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.43%. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CAT. Robert W. Baird lifted their price objective on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. UBS Group boosted 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. Bank of America boosted their price target on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Barclays boosted their price target on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. Finally, Truist Financial upped their price objective on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $362.40.

Insider Activity

In related news, CAO William E. Schaupp sold 968 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was 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 of the company’s stock, valued at approximately $642,332.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Caterpillar news, CAO William E. Schaupp sold 968 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 1,686 shares of the company’s stock, valued at $642,332.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Anthony D. Fassino sold 3,185 shares of the 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 transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,749 shares of company stock valued at $9,251,912 in the last quarter. 0.29% of the stock is currently owned by company insiders.

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.