Argyle Capital Management Inc. Sells 423 Shares of Caterpillar Inc. (NYSE:CAT)

Argyle Capital Management Inc. lessened its position in shares of Caterpillar Inc. (NYSE:CAT) by 3.5% during the third quarter, HoldingsChannel.com reports. The fund owned 11,519 shares of the industrial products company’s stock after selling 423 shares during the period. Caterpillar makes up approximately 1.8% of Argyle Capital Management Inc.’s holdings, making the stock its 12th largest holding. Argyle Capital Management Inc.’s holdings in Caterpillar were worth $4,505,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the company. Bbjs Financial Advisors LLC bought a new stake in Caterpillar during the second quarter valued at approximately $28,000. Financial Connections Group Inc. bought a new stake in shares of Caterpillar during the 2nd quarter worth $28,000. Fairscale Capital LLC purchased a new position in Caterpillar in the second quarter worth $36,000. POM Investment Strategies LLC increased its stake in Caterpillar by 2,160.0% in the second quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 108 shares during the last quarter. Finally, TruNorth Capital Management LLC raised its position in Caterpillar by 215.4% during the second quarter. TruNorth Capital Management LLC now owns 123 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 84 shares in the last quarter. 70.98% of the stock is owned by institutional investors.

Insider Activity at Caterpillar

In other news, Director Gerald Johnson acquired 100 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was acquired at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the acquisition, the director now owns 2,842 shares in the company, valued at $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Caterpillar news, Director Gerald Johnson acquired 100 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were acquired at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the acquisition, the director now owns 2,842 shares in the company, valued at $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 can be accessed through this hyperlink. Also, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar 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 transaction, the insider now owns 15,615 shares of the company’s stock, valued at $5,347,825.20. The trade was 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 currently owned by corporate insiders.

Caterpillar Trading Down 0.8 %

NYSE:CAT traded down $3.04 during trading hours on Tuesday, hitting $387.57. The company had a trading volume of 474,989 shares, compared to its average volume of 2,615,132. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78. Caterpillar Inc. has a 52 week low of $223.76 and a 52 week high of $403.60. The company has a market capitalization of $189.54 billion, a PE ratio of 17.49, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. The stock has a 50-day moving average price of $369.49 and a 200 day moving average price of $350.79.

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

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be paid a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s payout ratio is presently 25.46%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CAT shares. Truist Financial upped their price objective on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Barclays upped their target price on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. UBS Group boosted their price objective on shares of Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. increased their target price on shares of Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, Evercore ISI lowered 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 analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Caterpillar has an average rating of “Hold” and an average price target 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.