DT Investment Partners LLC Grows Stake in Caterpillar Inc. (NYSE:CAT)

DT Investment Partners LLC boosted its position in shares of Caterpillar Inc. (NYSE:CAT) by 0.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,654 shares of the industrial products company’s stock after purchasing an additional 97 shares during the quarter. DT Investment Partners LLC’s holdings in Caterpillar were worth $4,949,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Smallwood Wealth Investment Management LLC raised its position in shares of Caterpillar by 2.6% during the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 1,037 shares of the industrial products company’s stock worth $405,000 after purchasing an additional 26 shares during the last quarter. Pacifica Partners Inc. raised its holdings in shares of Caterpillar by 1.6% in the third quarter. Pacifica Partners Inc. now owns 1,807 shares of the industrial products company’s stock worth $707,000 after acquiring an additional 28 shares during the last quarter. Souders Financial Advisors lifted its position in shares of 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 acquiring an additional 29 shares in the last quarter. Hilltop National Bank boosted its stake in shares of Caterpillar by 1.2% during 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 last quarter. Finally, Procyon Advisors LLC increased its position in Caterpillar by 0.3% during the 3rd quarter. Procyon Advisors LLC now owns 11,659 shares of the industrial products company’s stock worth $4,560,000 after purchasing an additional 31 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

CAT has been the topic of several analyst reports. Barclays raised their price target on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. Bank of America lifted their target price on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Citigroup increased their price target on Caterpillar from $380.00 to $445.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Truist Financial lifted their price objective on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. raised their price target on Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Caterpillar currently has a consensus rating of “Hold” and a consensus target price of $355.50.

Caterpillar Price Performance

CAT opened at $386.81 on Friday. Caterpillar Inc. has a 52-week low of $223.76 and a 52-week high of $403.60. The company has a 50 day moving average of $367.72 and a two-hundred day moving average of $350.86. The company has a market cap of $189.17 billion, a P/E ratio of 17.46, a P/E/G ratio of 1.85 and a beta of 1.10. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results 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 revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the company earned $5.55 EPS. On average, analysts expect that Caterpillar Inc. will post 21.91 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be issued a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s dividend payout ratio is presently 25.46%.

Insider Buying and Selling at Caterpillar

In other news, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was acquired 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 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Caterpillar news, Director Gerald Johnson purchased 100 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were 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 owns 2,842 shares in the company, valued at $962,272.78. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Cheryl H. Johnson sold 2,975 shares of the firm’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 value of $1,018,878.00. Following the sale, the insider now owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

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.