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

Rede Wealth LLC lowered its position in shares of Caterpillar Inc. (NYSE:CAT) by 6.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 868 shares of the industrial products company’s stock after selling 62 shares during the period. Rede Wealth LLC’s holdings in Caterpillar were worth $339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in CAT. Legal & General Group Plc lifted its stake in shares of Caterpillar by 2.0% in the 2nd quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock valued at $1,286,582,000 after purchasing an additional 75,973 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Caterpillar by 5.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock valued at $1,022,488,000 after buying an additional 165,358 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Caterpillar by 10.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,108,817 shares of the industrial products company’s stock worth $702,431,000 after acquiring an additional 198,123 shares during the last quarter. Capital Research Global Investors raised its position in Caterpillar by 6.3% in the first quarter. Capital Research Global Investors now owns 2,020,100 shares of the industrial products company’s stock valued at $740,225,000 after purchasing an additional 119,326 shares during the period. Finally, Capital Wealth Planning LLC lifted its stake in Caterpillar by 6.4% during the second quarter. Capital Wealth Planning LLC now owns 1,381,453 shares of the industrial products company’s stock worth $460,162,000 after purchasing an additional 83,571 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Down 0.2 %

Shares of Caterpillar stock traded down $0.63 during trading hours on Friday, hitting $393.86. The company had a trading volume of 3,024,091 shares, compared to its average volume of 2,638,629. The company’s 50-day moving average is $363.86 and its two-hundred day moving average is $350.34. Caterpillar Inc. has a twelve month low of $223.76 and a twelve month high of $403.60. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78. The company has a market cap of $192.62 billion, a P/E ratio of 17.78, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data 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. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The company had revenue of $16.69 billion for the quarter, compared to analyst estimates of $16.91 billion. During the same quarter last year, the company posted $5.55 earnings per share. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. Analysts anticipate that Caterpillar Inc. will post 21.91 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be issued a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s payout ratio is currently 25.46%.

Insider Activity

In other Caterpillar news, Director Gerald Johnson purchased 100 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was purchased at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the purchase, the director now directly owns 2,842 shares in the company, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was 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 $11,750,181.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gerald Johnson acquired 100 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were bought at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the transaction, the director now directly owns 2,842 shares in the company, valued at $962,272.78. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

CAT has been the topic of several research analyst reports. Citigroup boosted their price objective on Caterpillar from $380.00 to $445.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Bank of America increased their price target on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Morgan Stanley cut shares of Caterpillar from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $349.00 to $332.00 in a report on Monday, October 14th. StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Finally, Barclays upped their price objective on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Caterpillar has a consensus rating of “Hold” and an average target price of $355.50.

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.