Caterpillar Inc. (NYSE:CAT) Shares Sold by Acorn Wealth Advisors LLC

Acorn Wealth Advisors LLC decreased its holdings in Caterpillar Inc. (NYSE:CAT) by 2.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,156 shares of the industrial products company’s stock after selling 119 shares during the quarter. Acorn Wealth Advisors LLC’s holdings in Caterpillar were worth $1,625,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Alpha Cubed Investments LLC grew its stake in shares of Caterpillar by 5.6% in the third quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock valued at $45,591,000 after buying an additional 6,212 shares in the last quarter. Citizens Financial Group Inc. RI raised its stake in Caterpillar by 43.0% during the third quarter. Citizens Financial Group Inc. RI now owns 13,902 shares of the industrial products company’s stock valued at $5,437,000 after buying an additional 4,181 shares in the last quarter. First Affirmative Financial Network bought a new position in Caterpillar during the 3rd quarter worth approximately $204,000. Inspire Advisors LLC increased its holdings in shares of Caterpillar by 25.8% in the 3rd quarter. Inspire Advisors LLC now owns 8,266 shares of the industrial products company’s stock valued at $3,233,000 after acquiring an additional 1,694 shares during the last quarter. Finally, Jackson Square Capital LLC boosted its holdings in Caterpillar by 33.7% in the third quarter. Jackson Square Capital LLC now owns 16,581 shares of the industrial products company’s stock worth $6,485,000 after purchasing an additional 4,182 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CAT. UBS Group increased their price objective on shares of Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a research note on Monday, November 4th. Robert W. Baird boosted their price target on shares of Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. Citigroup cut their price objective on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Bank of America lifted their price target on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, Barclays lifted their target price on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $365.33.

Caterpillar Price Performance

CAT stock traded up $6.96 on Monday, hitting $404.45. 250,475 shares of the company’s stock traded hands, compared to its average volume of 2,585,645. The stock has a market cap of $195.27 billion, a price-to-earnings ratio of 18.78, a P/E/G ratio of 1.96 and a beta of 1.10. Caterpillar Inc. has a 1-year low of $246.01 and a 1-year high of $418.50. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. The stock has a fifty day moving average of $386.81 and a 200-day moving average of $356.00.

Caterpillar (NYSE:CAT) last released its quarterly earnings data 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 company had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The business’s revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the business earned $5.52 earnings per share. On average, analysts forecast that Caterpillar Inc. will post 21.67 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st were paid a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend was Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is currently 26.15%.

Insider Activity

In other Caterpillar news, insider Lange Bob De sold 12,657 shares of Caterpillar stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the completion of the sale, the insider now owns 71,107 shares of the company’s stock, valued at $29,171,646.75. This trade represents a 15.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO William E. Schaupp sold 968 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $380.98, for a total value of $368,788.64. Following the sale, the chief accounting officer now owns 1,686 shares of the company’s stock, valued at approximately $642,332.28. This represents a 36.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,774 shares of company stock worth $8,233,034 over the last quarter. Corporate insiders own 0.29% of the company’s stock.

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.