Lake Street Private Wealth LLC Sells 4,171 Shares of Caterpillar Inc. (NYSE:CAT)

Lake Street Private Wealth LLC cut its position in shares of Caterpillar Inc. (NYSE:CAT) by 37.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,906 shares of the industrial products company’s stock after selling 4,171 shares during the period. Lake Street Private Wealth LLC’s holdings in Caterpillar were worth $2,701,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Altus Wealth Group LLC boosted its stake in Caterpillar by 7.1% during the third quarter. Altus Wealth Group LLC now owns 650 shares of the industrial products company’s stock valued at $254,000 after buying an additional 43 shares during the last quarter. Greenleaf Trust lifted its stake in shares of Caterpillar by 1.6% in the 3rd quarter. Greenleaf Trust now owns 17,305 shares of the industrial products company’s stock valued at $6,768,000 after purchasing an additional 266 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its stake in shares of Caterpillar by 1,389.2% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 162,817 shares of the industrial products company’s stock valued at $63,681,000 after purchasing an additional 151,884 shares during the last quarter. Global X Japan Co. Ltd. lifted its stake in shares of Caterpillar by 7.4% in the 3rd quarter. Global X Japan Co. Ltd. now owns 1,255 shares of the industrial products company’s stock valued at $491,000 after purchasing an additional 87 shares during the last quarter. Finally, GAM Holding AG lifted its stake in shares of Caterpillar by 9.1% in the 3rd quarter. GAM Holding AG now owns 15,230 shares of the industrial products company’s stock valued at $5,957,000 after purchasing an additional 1,272 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CAT shares. Barclays raised their price objective on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Raymond James initiated coverage on Caterpillar in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Morgan Stanley downgraded Caterpillar from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $349.00 to $332.00 in a report on Monday, October 14th. UBS Group increased their price target on Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a report on Wednesday, August 7th. Finally, Truist Financial increased their price target on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Caterpillar presently has an average rating of “Hold” and a consensus price target of $355.50.

Insider Activity at Caterpillar

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 stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the completion of the sale, the insider now directly owns 15,615 shares in the company, valued at approximately $5,347,825.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the completion of the sale, the insider now directly owns 15,615 shares in the company, valued at approximately $5,347,825.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gerald Johnson acquired 100 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were purchased at an average price 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 in the company, valued at $962,272.78. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.33% of the stock is owned by company insiders.

Caterpillar Stock Performance

CAT traded down $2.44 on Wednesday, reaching $386.02. 275,246 shares of the stock were exchanged, compared to its average volume of 2,625,227. The company’s 50-day moving average price is $365.94 and its 200 day moving average price is $350.37. The firm has a market capitalization of $188.78 billion, a PE ratio of 17.54, a PEG ratio of 1.85 and a beta of 1.10. Caterpillar Inc. has a fifty-two week low of $223.76 and a fifty-two week high of $403.60. 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 (NYSE:CAT) last released its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The business had revenue of $16.69 billion during the quarter, compared to analyst estimates of $16.91 billion. During the same quarter last year, the business posted $5.55 EPS. The company’s revenue was down 3.6% on a year-over-year basis. As a group, sell-side analysts forecast that Caterpillar Inc. will post 21.91 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Monday, October 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.46%. Caterpillar’s dividend payout ratio is presently 25.46%.

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.