Magnus Financial Group LLC Has $1.23 Million Holdings in Caterpillar Inc. (NYSE:CAT)

Magnus Financial Group LLC grew its stake in Caterpillar Inc. (NYSE:CAT) by 2.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,156 shares of the industrial products company’s stock after buying an additional 76 shares during the period. Magnus Financial Group LLC’s holdings in Caterpillar were worth $1,234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Thompson Investment Management Inc. bought a new position in Caterpillar during the first quarter valued at about $27,000. Fairman Group LLC bought a new stake in shares of Caterpillar during the first quarter valued at approximately $29,000. Bbjs Financial Advisors LLC acquired a new stake in shares of Caterpillar in the second quarter valued at approximately $28,000. Financial Connections Group Inc. bought a new position in Caterpillar in the 2nd quarter worth approximately $28,000. Finally, Richardson Financial Services Inc. bought a new position in Caterpillar in the 4th quarter valued at $27,000. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Down 1.5 %

Shares of NYSE CAT traded down $5.90 during mid-day trading on Tuesday, reaching $388.05. 2,715,061 shares of the company’s stock were exchanged, compared to its average volume of 2,652,683. Caterpillar Inc. has a twelve month low of $223.76 and a twelve month high of $403.60. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. The firm has a market capitalization of $189.78 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 1.85 and a beta of 1.10. The business has a fifty day simple moving average of $358.99 and a 200 day simple moving average of $349.46.

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

Caterpillar Announces Dividend

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 paid a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Monday, October 21st. Caterpillar’s payout ratio is presently 25.46%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Truist Financial upped their price target on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $349.00 to $332.00 in a research note on Monday. Raymond James assumed coverage on shares of Caterpillar in a research note on Friday, June 28th. They set a “market perform” rating for the company. StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, JPMorgan Chase & Co. upped their target price on shares of Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research report on Monday. Three research 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $355.50.

Insiders Place Their Bets

In related news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction that occurred on Friday, August 30th. The stock was 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 of the company’s stock, valued at approximately $11,750,181.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the transaction, the insider now owns 33,442 shares in the company, valued at approximately $11,750,181.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gerald Johnson purchased 100 shares of the 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 purchase, the director now directly owns 2,842 shares in the company, valued at approximately $962,272.78. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.33% of the company’s stock.

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.