Cullinan Associates Inc. Sells 2,104 Shares of Caterpillar Inc. (NYSE:CAT)

Cullinan Associates Inc. reduced its stake in shares of Caterpillar Inc. (NYSE:CAT) by 4.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,516 shares of the industrial products company’s stock after selling 2,104 shares during the quarter. Cullinan Associates Inc.’s holdings in Caterpillar were worth $15,806,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Blackston Financial Advisory Group LLC increased its position in shares of Caterpillar by 0.6% during the third quarter. Blackston Financial Advisory Group LLC now owns 15,100 shares of the industrial products company’s stock worth $5,906,000 after acquiring an additional 91 shares during the period. Ballentine Partners LLC grew its stake in Caterpillar by 16.2% in the third quarter. Ballentine Partners LLC now owns 8,361 shares of the industrial products company’s stock worth $3,270,000 after purchasing an additional 1,165 shares in the last quarter. Financial Partners Group LLC increased its holdings in Caterpillar by 0.5% during the 3rd quarter. Financial Partners Group LLC now owns 26,455 shares of the industrial products company’s stock worth $10,347,000 after purchasing an additional 126 shares during the period. Heritage Oak Wealth Advisors LLC bought a new stake in Caterpillar during the 3rd quarter valued at $437,000. Finally, Silver Oak Securities Incorporated lifted its holdings in shares of Caterpillar by 10.0% in the 3rd quarter. Silver Oak Securities Incorporated now owns 22,524 shares of the industrial products company’s stock worth $8,806,000 after buying an additional 2,051 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Transactions at Caterpillar

In other news, Director Gerald Johnson bought 100 shares of the stock in a transaction dated Wednesday, September 4th. The shares were acquired at an average cost of $338.59 per share, with a total value of $33,859.00. Following the purchase, the director now directly owns 2,842 shares in the company, valued at $962,272.78. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Caterpillar news, Director Gerald Johnson bought 100 shares of Caterpillar stock in a transaction dated Wednesday, September 4th. The stock was acquired at an average cost of $338.59 per share, with a total value of $33,859.00. Following the purchase, the director now directly owns 2,842 shares in the company, valued at $962,272.78. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the sale, the insider now directly owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on CAT. Truist Financial lifted their price objective on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Raymond James began coverage on shares of Caterpillar in a report on Friday, June 28th. They issued a “market perform” rating for the company. Barclays lifted their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. increased their target price on Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $355.50.

Caterpillar Stock Performance

CAT stock traded up $2.67 during midday trading on Friday, reaching $389.73. The stock had a trading volume of 149,209 shares, compared to its average volume of 2,615,399. Caterpillar Inc. has a 52-week low of $223.76 and a 52-week high of $403.60. The stock has a market cap of $190.60 billion, a PE ratio of 17.46, a P/E/G ratio of 1.85 and a beta of 1.10. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28. The firm has a fifty day simple moving average of $367.72 and a two-hundred day simple moving average of $350.86.

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

Caterpillar Dividend Announcement

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

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.