Caterpillar Inc. (NYSE:CAT) Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its position in shares of Caterpillar Inc. (NYSE:CAT) by 1.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 413,719 shares of the industrial products company’s stock after acquiring an additional 7,118 shares during the period. PNC Financial Services Group Inc. owned about 0.09% of Caterpillar worth $161,814,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bbjs Financial Advisors LLC acquired a new stake in shares of Caterpillar during the 2nd quarter valued at approximately $28,000. Financial Connections Group Inc. acquired a new stake in shares of Caterpillar during the 2nd quarter valued at approximately $28,000. Capital Performance Advisors LLP acquired a new stake in shares of Caterpillar during the 3rd quarter valued at approximately $36,000. Fairscale Capital LLC acquired a new stake in shares of Caterpillar during the 2nd quarter valued at approximately $36,000. Finally, POM Investment Strategies LLC grew its stake in 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 buying an additional 108 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CAT. JPMorgan Chase & Co. upped their price objective on Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. UBS Group upped their price objective 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 upped their price objective on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Truist Financial upped their price objective on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $365.33.

Caterpillar Trading Down 0.6 %

Shares of CAT stock opened at $382.26 on Wednesday. The stock has a 50-day simple moving average of $382.87 and a 200 day simple moving average of $354.71. Caterpillar Inc. has a fifty-two week low of $241.81 and a fifty-two week high of $418.50. The stock has a market capitalization of $184.56 billion, a P/E ratio of 17.72, a P/E/G ratio of 1.90 and a beta of 1.10. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33.

Caterpillar (NYSE:CAT) last announced 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). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The firm 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 business earned $5.52 EPS. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. On average, sell-side analysts expect that Caterpillar Inc. will post 21.68 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business 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. This represents a $5.64 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s dividend payout ratio is 26.15%.

Insider Activity

In related news, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total value of $1,018,878.00. Following the completion of 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 16.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the sale, the insider now directly owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. This represents a 8.70 % decrease in their ownership of the stock. 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 over the last three months. Insiders own 0.29% of the company’s stock.

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.