Hayek Kallen Investment Management Sells 78 Shares of Caterpillar Inc. (NYSE:CAT)

Hayek Kallen Investment Management lowered its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 0.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,619 shares of the industrial products company’s stock after selling 78 shares during the quarter. Caterpillar makes up approximately 1.7% of Hayek Kallen Investment Management’s holdings, making the stock its 19th biggest position. Hayek Kallen Investment Management’s holdings in Caterpillar were worth $4,935,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Pacifica Partners Inc. raised its stake in Caterpillar by 1.6% during the 3rd quarter. Pacifica Partners Inc. now owns 1,807 shares of the industrial products company’s stock worth $707,000 after acquiring an additional 28 shares during the period. Souders Financial Advisors increased its stake in shares of Caterpillar by 0.8% in the second quarter. Souders Financial Advisors now owns 3,657 shares of the industrial products company’s stock worth $1,218,000 after purchasing an additional 29 shares in the last quarter. Southland Equity Partners LLC lifted its position in shares of Caterpillar by 4.0% in the first quarter. Southland Equity Partners LLC now owns 784 shares of the industrial products company’s stock worth $287,000 after buying an additional 30 shares in the last quarter. Davis Investment Partners LLC boosted its stake in Caterpillar by 2.1% during the first quarter. Davis Investment Partners LLC now owns 1,454 shares of the industrial products company’s stock valued at $541,000 after buying an additional 30 shares during the last quarter. Finally, Hilltop National Bank grew its holdings in Caterpillar by 1.2% during the 2nd quarter. Hilltop National Bank now owns 2,636 shares of the industrial products company’s stock valued at $878,000 after buying an additional 31 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Down 1.0 %

CAT traded down $4.06 on Tuesday, reaching $389.89. 857,302 shares of the company traded hands, compared to its average volume of 2,643,349. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39. The company has a market cap of $190.68 billion, a P/E ratio of 17.64, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. The firm has a fifty day simple moving average of $358.99 and a two-hundred day simple moving average of $349.46. Caterpillar Inc. has a one year low of $223.76 and a one year high of $403.60.

Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.53 by $0.46. The company had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the business earned $5.55 EPS. As a group, equities research analysts expect that Caterpillar Inc. will post 21.91 earnings per share for the current year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be given a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s payout ratio is currently 25.46%.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the transaction, the insider now owns 33,442 shares in the company, valued at $11,750,181.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the completion of the sale, the insider now owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on CAT. Raymond James assumed coverage on Caterpillar in a research report on Friday, June 28th. They set a “market perform” rating for the company. Citigroup increased their price objective on shares of Caterpillar from $380.00 to $445.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Bank of America boosted their target price on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a report on Monday, September 30th. UBS Group increased their price target on shares of Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a report on Wednesday, August 7th. Finally, Truist Financial upped their price objective on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $355.50.

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.