Goldstone Financial Group LLC Increases Stock Position in Caterpillar Inc. $CAT

Goldstone Financial Group LLC raised its position in Caterpillar Inc. (NYSE:CAT) by 30.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,487 shares of the industrial products company’s stock after acquiring an additional 1,057 shares during the quarter. Goldstone Financial Group LLC’s holdings in Caterpillar were worth $2,141,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other news, insider Jason Kaiser sold 10,707 shares of the stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $563.60, for a total value of $6,034,465.20. Following the sale, the insider directly owned 8,649 shares of the company’s stock, valued at approximately $4,874,576.40. This represents a 55.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Anthony D. Fassino sold 8,184 shares of the company’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $570.18, for a total transaction of $4,666,353.12. Following the completion of the transaction, the insider owned 41,512 shares in the company, valued at approximately $23,669,312.16. The trade was a 16.47% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 61,895 shares of company stock valued at $34,007,516. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Argus boosted their price objective on shares of Caterpillar from $460.00 to $625.00 and gave the company a “buy” rating in a research report on Wednesday, November 19th. Royal Bank Of Canada initiated coverage on shares of Caterpillar in a research note on Wednesday, October 22nd. They set a “sector perform” rating and a $560.00 target price on the stock. Sanford C. Bernstein increased their price target on shares of Caterpillar from $557.00 to $630.00 and gave the stock a “market perform” rating in a research note on Friday, December 19th. UBS Group raised their price objective on shares of Caterpillar from $506.00 to $581.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. Finally, Truist Financial reiterated a “buy” rating and set a $729.00 target price (up previously from $582.00) on shares of Caterpillar in a report on Thursday, October 30th. Three 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $616.00.

Caterpillar Price Performance

Shares of CAT opened at $583.09 on Monday. The stock has a market cap of $272.88 billion, a PE ratio of 29.93, a price-to-earnings-growth ratio of 2.74 and a beta of 1.57. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.86 and a current ratio of 1.38. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $627.50. The firm’s 50-day simple moving average is $568.28 and its two-hundred day simple moving average is $478.35.

Caterpillar (NYSE:CAT) last announced its earnings results on Monday, November 3rd. The industrial products company reported $4.95 earnings per share for the quarter, beating analysts’ consensus estimates of $4.52 by $0.43. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The business had revenue of $17.64 billion during the quarter, compared to the consensus estimate of $16.72 billion. During the same quarter last year, the firm earned $5.17 earnings per share. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. Analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

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

Caterpillar Profile

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.