Studio Investment Management LLC Sells 315 Shares of Caterpillar Inc. (NYSE:CAT)

Studio Investment Management LLC lessened its position in shares of Caterpillar Inc. (NYSE:CAT) by 2.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,254 shares of the industrial products company’s stock after selling 315 shares during the quarter. Caterpillar makes up about 1.3% of Studio Investment Management LLC’s investment portfolio, making the stock its 21st largest position. Studio Investment Management LLC’s holdings in Caterpillar were worth $5,966,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Bbjs Financial Advisors LLC acquired a new position in shares of Caterpillar in the 2nd quarter valued at $28,000. Financial Connections Group Inc. acquired a new position in Caterpillar in the second quarter valued at about $28,000. Fairscale Capital LLC bought a new position in shares of Caterpillar in the second quarter valued at approximately $36,000. Capital Performance Advisors LLP bought a new stake in Caterpillar during the 3rd quarter worth approximately $36,000. Finally, POM Investment Strategies LLC raised its position in Caterpillar by 2,160.0% in the 2nd quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 108 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Lange Bob De sold 12,657 shares of Caterpillar stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $410.25, for a total value of $5,192,534.25. Following the sale, the insider now directly owns 71,107 shares in the company, valued at $29,171,646.75. This trade represents a 15.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gerald Johnson bought 100 shares of Caterpillar stock in a transaction that occurred on Wednesday, September 4th. The shares were acquired at an average price of $338.59 per share, with a total value of $33,859.00. Following the acquisition, the director now directly owns 2,842 shares of the company’s stock, valued at $962,272.78. The trade was a 3.65 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 20,774 shares of company stock worth $8,233,034 over the last ninety days. Company insiders own 0.29% of the company’s stock.

Caterpillar Trading Up 2.3 %

CAT opened at $390.26 on Friday. The firm’s fifty day moving average is $385.77 and its two-hundred day moving average is $355.46. The firm has a market cap of $188.42 billion, a PE ratio of 18.09, a price-to-earnings-growth ratio of 1.89 and a beta of 1.10. Caterpillar Inc. has a twelve month low of $241.81 and a twelve month high of $418.50. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The business had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. During the same period in the previous year, the business posted $5.52 EPS. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. Equities research analysts anticipate that Caterpillar Inc. will post 21.68 EPS for the current year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st were issued a dividend of $1.41 per share. The ex-dividend date was Monday, October 21st. This represents a $5.64 annualized dividend and a yield of 1.45%. Caterpillar’s dividend payout ratio (DPR) is currently 26.15%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CAT shares. JPMorgan Chase & Co. upped their price target on shares of Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Truist Financial raised their price target on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. UBS Group increased their price objective on Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a research report on Monday, November 4th. StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Robert W. Baird boosted their price objective on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $365.33.

Caterpillar 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.