Cigna Investments Inc. New Decreases Position in Caterpillar Inc. (NYSE:CAT)

Cigna Investments Inc. New lessened its position in Caterpillar Inc. (NYSE:CAT) by 0.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,032 shares of the industrial products company’s stock after selling 36 shares during the quarter. Cigna Investments Inc. New’s holdings in Caterpillar were worth $1,969,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CAT. Smallwood Wealth Investment Management LLC grew its stake in Caterpillar by 2.6% in the third quarter. Smallwood Wealth Investment Management LLC now owns 1,037 shares of the industrial products company’s stock valued at $405,000 after purchasing an additional 26 shares during the last quarter. First Bank & Trust increased its stake in shares of Caterpillar by 4.0% in the third quarter. First Bank & Trust now owns 709 shares of the industrial products company’s stock worth $277,000 after acquiring an additional 27 shares during the period. Pacifica Partners Inc. boosted its stake in shares of Caterpillar by 1.6% in the third quarter. Pacifica Partners Inc. now owns 1,807 shares of the industrial products company’s stock worth $707,000 after buying an additional 28 shares during the last quarter. Vanguard Capital Wealth Advisors grew its stake in shares of Caterpillar by 0.8% during the 3rd quarter. Vanguard Capital Wealth Advisors now owns 3,466 shares of the industrial products company’s stock worth $1,356,000 after purchasing an additional 28 shares during the period. Finally, Souders Financial Advisors boosted its position in Caterpillar by 0.8% during 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. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling

In other Caterpillar news, Director Gerald Johnson acquired 100 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were purchased at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the purchase, the director now owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Gerald Johnson bought 100 shares of the business’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 purchase, 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total value of $1,018,878.00. Following the completion of the transaction, the insider now directly owns 15,615 shares in the company, valued at approximately $5,347,825.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by insiders.

Caterpillar Stock Performance

Shares of NYSE CAT opened at $376.20 on Friday. The stock has a 50 day moving average of $371.78 and a 200-day moving average of $351.32. The company has a current ratio of 1.40, a quick ratio of 0.78 and a debt-to-equity ratio of 1.33. The company has a market capitalization of $182.42 billion, a P/E ratio of 17.44, a P/E/G ratio of 1.86 and a beta of 1.10. Caterpillar Inc. has a 12 month low of $223.76 and a 12 month high of $403.60.

Caterpillar (NYSE:CAT) last issued 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). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The business had revenue of $16.11 billion during the quarter, compared to analyst estimates of $16.37 billion. During the same quarter last year, the firm earned $5.52 EPS. Caterpillar’s revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, equities research analysts predict that Caterpillar Inc. will post 21.88 EPS for the current year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be issued a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.50%. The ex-dividend date is Monday, October 21st. Caterpillar’s payout ratio is presently 26.15%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CAT shares. Citigroup dropped their price target on Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a research report on Thursday. Truist Financial boosted 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. Evercore ISI reduced their target price on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a report on Monday, August 19th. StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Finally, Barclays raised their target price on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $357.56.

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.