Pure Financial Advisors LLC Lowers Position in Caterpillar Inc. $CAT

Pure Financial Advisors LLC decreased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 4.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,770 shares of the industrial products company’s stock after selling 880 shares during the quarter. Pure Financial Advisors LLC’s holdings in Caterpillar were worth $8,479,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CAT. Fisher Asset Management LLC increased its holdings in shares of Caterpillar by 2.3% in the 2nd quarter. Fisher Asset Management LLC now owns 9,418,321 shares of the industrial products company’s stock worth $3,656,286,000 after buying an additional 208,196 shares during the last quarter. Valeo Financial Advisors LLC grew its position in Caterpillar by 36,842.1% in the second quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock worth $2,833,836,000 after acquiring an additional 7,279,991 shares in the last quarter. Norges Bank purchased a new stake in Caterpillar during the second quarter valued at about $2,165,899,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Caterpillar by 6.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,204,445 shares of the industrial products company’s stock worth $1,386,626,000 after purchasing an additional 264,054 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Caterpillar by 1.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,337,915 shares of the industrial products company’s stock worth $1,295,432,000 after purchasing an additional 33,467 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $571.44, for a total value of $5,714,400.00. Following the sale, the chief financial officer directly owned 55,460 shares in the company, valued at approximately $31,692,062.40. This trade represents a 15.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jason Kaiser sold 10,707 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $563.60, for a total value of $6,034,465.20. Following the transaction, the insider directly owned 8,649 shares in the company, valued at $4,874,576.40. This trade represents a 55.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 61,895 shares of company stock worth $34,007,516. Insiders own 0.33% of the company’s stock.

Caterpillar Trading Down 0.8%

Shares of CAT opened at $578.60 on Tuesday. The stock has a market capitalization of $270.77 billion, a P/E ratio of 29.70, a PEG ratio of 2.74 and a beta of 1.57. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $627.50. The company has a quick ratio of 0.86, a current ratio of 1.38 and a debt-to-equity ratio of 1.34. The firm has a fifty day simple moving average of $569.22 and a two-hundred day simple moving average of $479.88.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Monday, November 3rd. The industrial products company reported $4.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.52 by $0.43. The firm had revenue of $17.64 billion for the quarter, compared to analysts’ expectations of $16.72 billion. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.17 earnings per share. On average, research analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Tuesday, January 20th will be given a dividend of $1.51 per share. The ex-dividend date of this dividend is Tuesday, January 20th. This represents a $6.04 dividend on an annualized basis and a yield of 1.0%. Caterpillar’s dividend payout ratio is presently 31.01%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CAT shares. Sanford C. Bernstein raised their price objective on Caterpillar from $557.00 to $630.00 and gave the company a “market perform” rating in a report on Friday, December 19th. Citigroup raised shares of Caterpillar from a “buy” rating to a “mixed” rating in a research note on Tuesday, December 16th. Truist Financial restated a “buy” rating and issued a $729.00 price objective (up from $582.00) on shares of Caterpillar in a report on Thursday, October 30th. Royal Bank Of Canada started coverage on shares of Caterpillar in a report on Wednesday, October 22nd. They set a “sector perform” rating and a $560.00 target price on the stock. Finally, Wells Fargo & Company assumed coverage on shares of Caterpillar in a research note on Thursday, November 13th. They issued an “overweight” rating and a $675.00 price target for the company. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $616.00.

About Caterpillar

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.