Garden State Investment Advisory Services LLC Has $449,000 Stock Position in Caterpillar Inc. (NYSE:CAT)

Garden State Investment Advisory Services LLC lowered its position in shares of Caterpillar Inc. (NYSE:CAT) by 6.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,146 shares of the industrial products company’s stock after selling 74 shares during the quarter. Garden State Investment Advisory Services LLC’s holdings in Caterpillar were worth $449,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Lantz Financial LLC boosted its position in shares of Caterpillar by 2.9% in the second quarter. Lantz Financial LLC now owns 4,181 shares of the industrial products company’s stock worth $1,393,000 after buying an additional 116 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in Caterpillar by 130.8% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,470 shares of the industrial products company’s stock worth $891,000 after acquiring an additional 1,400 shares during the period. Swedbank AB grew its stake in Caterpillar by 2.2% during the 2nd quarter. Swedbank AB now owns 270,531 shares of the industrial products company’s stock valued at $90,114,000 after acquiring an additional 5,699 shares in the last quarter. Silver Lake Advisory LLC acquired a new position in shares of Caterpillar in the 2nd quarter valued at about $322,000. Finally, Assenagon Asset Management S.A. lifted its position in shares of Caterpillar by 13.8% in the second quarter. Assenagon Asset Management S.A. now owns 154,103 shares of the industrial products company’s stock worth $51,332,000 after purchasing an additional 18,687 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

Caterpillar stock traded up $0.17 on Friday, reaching $380.95. 287,874 shares of the stock were exchanged, compared to its average volume of 2,545,760. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. Caterpillar Inc. has a twelve month low of $270.55 and a twelve month high of $418.50. The firm has a fifty day moving average price of $392.83 and a two-hundred day moving average price of $360.00. The stock has a market cap of $183.92 billion, a PE ratio of 17.65, a PEG ratio of 1.92 and a beta of 1.10.

Caterpillar (NYSE:CAT) last posted 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 business had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. Caterpillar’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period in the prior year, the firm posted $5.52 EPS. Sell-side analysts anticipate that Caterpillar Inc. will post 21.68 EPS for the current year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 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 1.48%. The ex-dividend date of this dividend is Tuesday, January 21st. Caterpillar’s dividend payout ratio (DPR) is currently 26.15%.

Insider Activity at Caterpillar

In other Caterpillar news, Director Daniel M. Dickinson sold 1,300 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $418.00, for a total value of $543,400.00. Following the completion of the transaction, the director now owns 4,976 shares of the company’s stock, valued at $2,079,968. This represents a 20.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Cheryl H. Johnson sold 2,664 shares of Caterpillar stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $378.84, for a total value of $1,009,229.76. Following the sale, the insider now directly owns 12,951 shares in the company, valued at $4,906,356.84. The trade was a 17.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,868 shares of company stock worth $9,679,489 in the last ninety days. 0.29% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CAT has been the topic of several research reports. Robert W. Baird upped their price objective on shares of Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. upped their price target on shares of Caterpillar from $500.00 to $515.00 and gave the stock an “overweight” rating in a research note on Monday. Truist Financial lifted 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. UBS Group upped their target price on Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a research report on Monday, November 4th. Finally, StockNews.com raised Caterpillar from a “hold” rating to a “buy” rating in a research note on Tuesday. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Caterpillar presently has an average rating of “Hold” and a consensus target price of $374.69.

Caterpillar Company 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.