Carrera Capital Advisors Sells 482 Shares of Caterpillar Inc. (NYSE:CAT)

Carrera Capital Advisors reduced its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 28.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,208 shares of the industrial products company’s stock after selling 482 shares during the period. Carrera Capital Advisors’ holdings in Caterpillar were worth $472,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CAT. Legal & General Group Plc grew 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 worth $1,286,582,000 after buying an additional 75,973 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Caterpillar by 5.7% during 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 acquiring an additional 165,358 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Caterpillar by 39,534.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock worth $8,356,930,000 after purchasing an additional 2,131,276 shares during the last quarter. Ameriprise Financial Inc. grew its position in Caterpillar by 10.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,108,817 shares of the industrial products company’s stock valued at $702,431,000 after purchasing an additional 198,123 shares during the last quarter. Finally, Capital Research Global Investors increased its stake in Caterpillar by 6.3% during the 1st 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 in the last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

Shares of CAT stock traded down $3.53 on Tuesday, hitting $393.01. 473,187 shares of the stock traded hands, compared to its average volume of 2,618,567. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86. Caterpillar Inc. has a 52 week low of $238.88 and a 52 week high of $418.50. The firm has a 50 day simple moving average of $377.62 and a two-hundred day simple moving average of $353.01. The firm has a market cap of $189.75 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 1.94 and a beta of 1.10.

Caterpillar (NYSE:CAT) last announced 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 net margin of 16.26% and a return on equity of 59.09%. The business had revenue of $16.11 billion during the quarter, compared to analysts’ expectations of $16.37 billion. During the same quarter in the previous year, the firm earned $5.52 earnings per share. Caterpillar’s revenue was down 4.2% on a year-over-year basis. As a group, equities research analysts predict that Caterpillar Inc. will post 21.69 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be issued a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is currently 26.15%.

Insider Activity

In related news, insider Lange Bob De sold 12,657 shares of the firm’s 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 transaction, the insider now directly owns 71,107 shares of the company’s stock, valued at approximately $29,171,646.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the sale, the insider now owns 33,442 shares in the company, valued at approximately $11,750,181.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Lange Bob De sold 12,657 shares of the 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 transaction, the insider now owns 71,107 shares of the company’s stock, valued at $29,171,646.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,749 shares of company stock worth $9,251,912 over the last quarter. Insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CAT shares. Truist Financial upped their target price on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Robert W. Baird lifted their target price on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. UBS Group upped their price target on Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a report on Monday, November 4th. StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Finally, Evercore ISI reduced their price target on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Caterpillar currently has a consensus rating of “Hold” and an average price target of $362.40.

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.