MN Wealth Advisors LLC Makes New $205,000 Investment in Caterpillar Inc. (NYSE:CAT)

MN Wealth Advisors LLC bought a new position in shares of Caterpillar Inc. (NYSE:CAT) in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 524 shares of the industrial products company’s stock, valued at approximately $205,000.

Other large investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC grew its holdings in shares of Caterpillar by 17.2% in the 1st quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock valued at $3,308,000 after acquiring an additional 1,327 shares in the last quarter. Alpha Cubed Investments LLC grew its holdings in shares of Caterpillar by 5.6% in the 3rd quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock valued at $45,591,000 after acquiring an additional 6,212 shares in the last quarter. Diversify Advisory Services LLC bought a new position in shares of Caterpillar in the 1st quarter valued at about $926,000. First Affirmative Financial Network bought a new position in shares of Caterpillar in the 3rd quarter valued at about $204,000. Finally, Natixis Advisors LLC grew its holdings in shares of Caterpillar by 3.5% in the 2nd quarter. Natixis Advisors LLC now owns 278,259 shares of the industrial products company’s stock valued at $92,688,000 after acquiring an additional 9,321 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Analyst Ratings Changes

CAT has been the subject of several analyst reports. Bank of America raised their price objective on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a report on Monday, September 30th. Morgan Stanley downgraded shares of Caterpillar from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $349.00 to $332.00 in a research note on Monday. Citigroup raised their target price on shares of Caterpillar from $380.00 to $445.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Truist Financial raised their target price on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Barclays raised their target price on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Three equities research 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. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $355.50.

Caterpillar Trading Down 1.5 %

Shares of CAT stock opened at $388.05 on Wednesday. The firm has a 50 day moving average price of $360.22 and a two-hundred day moving average price of $349.61. 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 company has a market capitalization of $189.78 billion, a PE ratio of 17.52, a price-to-earnings-growth ratio of 1.85 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 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. 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 period last year, the firm earned $5.55 earnings per share. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, analysts predict that Caterpillar Inc. will post 21.91 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be issued a dividend of $1.41 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.45%. Caterpillar’s dividend payout ratio is presently 25.46%.

Insider Transactions at Caterpillar

In other Caterpillar news, Director Gerald Johnson bought 100 shares of the stock in a transaction dated Wednesday, September 4th. The shares were bought at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the acquisition, the director now owns 2,842 shares of the company’s stock, 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 SEC, which is accessible through this link. In related news, 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 value of $1,018,878.00. Following the transaction, the insider now directly owns 15,615 shares of the company’s stock, valued at $5,347,825.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gerald Johnson acquired 100 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was purchased at an average cost 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 of the company’s stock, valued at $962,272.78. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 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.