Exchange Traded Concepts LLC Reduces Position in Caterpillar Inc. (NYSE:CAT)

Exchange Traded Concepts LLC lowered its stake in Caterpillar Inc. (NYSE:CAT) by 46.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 28,027 shares of the industrial products company’s stock after selling 24,009 shares during the period. Exchange Traded Concepts LLC’s holdings in Caterpillar were worth $10,962,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Pacifica Partners Inc. raised its position in Caterpillar by 1.6% during the 3rd 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. Souders Financial Advisors boosted its holdings in Caterpillar by 0.8% in the second quarter. Souders Financial Advisors now owns 3,657 shares of the industrial products company’s stock valued at $1,218,000 after purchasing an additional 29 shares during the last quarter. Southland Equity Partners LLC grew its position in Caterpillar by 4.0% during the 1st quarter. Southland Equity Partners LLC now owns 784 shares of the industrial products company’s stock worth $287,000 after purchasing an additional 30 shares during the period. Davis Investment Partners LLC raised its stake in shares of Caterpillar by 2.1% during the 1st quarter. Davis Investment Partners LLC now owns 1,454 shares of the industrial products company’s stock valued at $541,000 after buying an additional 30 shares during the last quarter. Finally, Hilltop National Bank lifted its holdings in Caterpillar by 1.2% in the second quarter. Hilltop National Bank now owns 2,636 shares of the industrial products company’s stock valued at $878,000 after acquiring an additional 31 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Cheryl H. Johnson sold 2,975 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the completion of the transaction, the insider now directly owns 15,615 shares of the company’s stock, valued at $5,347,825.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Caterpillar news, insider Cheryl H. Johnson sold 2,975 shares of the business’s 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 completion of the transaction, the insider now owns 15,615 shares in the company, valued at $5,347,825.20. The trade was a 0.00 % 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 1,508 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total value of $527,800.00. Following the completion of the transaction, the insider now directly owns 18,515 shares in the company, valued at $6,480,250. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,668 shares of company stock valued at $2,665,760. 0.33% of the stock is currently owned by company insiders.

Caterpillar Price Performance

CAT stock opened at $402.02 on Friday. Caterpillar Inc. has a 52-week low of $223.76 and a 52-week high of $403.60. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39. The stock has a market cap of $196.61 billion, a price-to-earnings ratio of 18.15, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. The business has a fifty day moving average of $357.45 and a two-hundred day moving average of $349.37.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, topping analysts’ consensus estimates of $5.53 by $0.46. The firm had revenue of $16.69 billion during the quarter, compared to analysts’ expectations of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the company posted $5.55 EPS. As a group, research analysts anticipate that Caterpillar Inc. will post 21.91 earnings per share for the current year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be paid a dividend of $1.41 per share. The ex-dividend date is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.40%. Caterpillar’s dividend payout ratio (DPR) is presently 25.46%.

Analysts Set New Price Targets

Several analysts recently commented on CAT shares. UBS Group raised their price target on shares of Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research report on Wednesday, August 7th. Evercore ISI decreased their target price on Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Citigroup upped their price target on shares of Caterpillar from $380.00 to $445.00 and gave the stock a “buy” rating in a research report on Wednesday. Bank of America boosted their price objective on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, Truist Financial lifted their price target on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $347.56.

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.