NorthRock Partners LLC Sells 534 Shares of Caterpillar Inc. (NYSE:CAT)

NorthRock Partners LLC cut its stake in shares of Caterpillar Inc. (NYSE:CAT) by 9.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,318 shares of the industrial products company’s stock after selling 534 shares during the period. NorthRock Partners LLC’s holdings in Caterpillar were worth $2,080,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Bbjs Financial Advisors LLC acquired a new position in Caterpillar in the 2nd quarter valued at $28,000. Financial Connections Group Inc. acquired a new position in shares of Caterpillar in the 2nd quarter valued at approximately $28,000. Fairscale Capital LLC acquired a new stake in shares of Caterpillar during the 2nd quarter worth approximately $36,000. POM Investment Strategies LLC raised its position in Caterpillar by 2,160.0% during the second quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 108 shares in the last quarter. Finally, TruNorth Capital Management LLC lifted its stake in Caterpillar by 215.4% during the second quarter. TruNorth Capital Management LLC now owns 123 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 84 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Up 2.1 %

NYSE CAT traded up $7.78 on Tuesday, hitting $384.30. 278,159 shares of the company were exchanged, compared to its average volume of 2,609,093. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. The company has a market cap of $186.35 billion, a PE ratio of 17.46, a PEG ratio of 1.86 and a beta of 1.10. The stock has a fifty day moving average of $372.91 and a 200-day moving average of $351.45. Caterpillar Inc. has a 12 month low of $233.57 and a 12 month high of $403.60.

Caterpillar (NYSE:CAT) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The firm had revenue of $16.11 billion during the quarter, compared to analyst estimates of $16.37 billion. During the same quarter in the prior year, the business earned $5.52 earnings per share. The business’s quarterly revenue was down 4.2% on a year-over-year basis. As a group, analysts forecast that Caterpillar Inc. will post 21.82 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be issued a dividend of $1.41 per share. The ex-dividend date is Monday, October 21st. This represents a $5.64 annualized dividend and a yield of 1.47%. Caterpillar’s payout ratio is 26.15%.

Insider Activity

In related news, CAO William E. Schaupp sold 968 shares of Caterpillar stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $380.98, for a total transaction of $368,788.64. Following the transaction, the chief accounting officer now owns 1,686 shares of the company’s stock, valued at $642,332.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CAO William E. Schaupp sold 968 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $380.98, for a total transaction of $368,788.64. Following the completion of the sale, the chief accounting officer now directly owns 1,686 shares of the company’s stock, valued at approximately $642,332.28. 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 can be accessed through this link. Also, Director Gerald Johnson acquired 100 shares of the business’s stock in a transaction on 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 transaction, the director now owns 2,842 shares of the company’s stock, 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. Insiders sold 7,128 shares of company stock worth $2,506,748 over the last three months. 0.29% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on CAT. Morgan Stanley downgraded Caterpillar from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $349.00 to $332.00 in a research report on Monday, October 14th. UBS Group upped their price objective on shares of Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a research report on Monday. Citigroup decreased their target price on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Truist Financial boosted their price objective on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Robert W. Baird raised their price target on shares of Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Caterpillar presently has a consensus rating of “Hold” and a consensus price target of $358.19.

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.