Oppenheimer Asset Management Inc. Has $20.17 Million Holdings in Caterpillar Inc. (NYSE:CAT)

Oppenheimer Asset Management Inc. increased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 33.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 51,577 shares of the industrial products company’s stock after acquiring an additional 12,936 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Caterpillar were worth $20,173,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in CAT. GSA Capital Partners LLP acquired a new position in Caterpillar during the first quarter worth $433,000. Interchange Capital Partners LLC acquired a new stake in Caterpillar in the first quarter valued at $238,000. Angeles Wealth Management LLC acquired a new stake in Caterpillar in the first quarter valued at $307,000. Texas Yale Capital Corp. lifted its stake in Caterpillar by 1.7% in the first quarter. Texas Yale Capital Corp. now owns 3,003 shares of the industrial products company’s stock valued at $1,100,000 after acquiring an additional 50 shares during the last quarter. Finally, D Orazio & Associates Inc. lifted its stake in Caterpillar by 4.0% in the first quarter. D Orazio & Associates Inc. now owns 835 shares of the industrial products company’s stock valued at $306,000 after acquiring an additional 32 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Performance

NYSE:CAT traded down $6.15 during mid-day trading on Wednesday, reaching $386.86. 356,386 shares of the company’s stock were exchanged, compared to its average volume of 2,614,030. Caterpillar Inc. has a one year low of $241.81 and a one year high of $418.50. The firm has a market capitalization of $186.78 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 1.96 and a beta of 1.10. The business’s fifty day simple moving average is $377.62 and its two-hundred day simple moving average is $353.01. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40.

Caterpillar (NYSE:CAT) last released 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 the consensus estimate of $16.37 billion. During the same period in the prior year, the business earned $5.52 earnings per share. Caterpillar’s quarterly revenue was down 4.2% compared to the same quarter last year. Analysts anticipate that Caterpillar Inc. will post 21.69 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s dividend payout ratio is currently 26.15%.

Insider Buying and Selling at Caterpillar

In other news, Director Daniel M. Dickinson sold 1,300 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $418.00, for a total value of $543,400.00. Following the sale, the director now directly owns 4,976 shares in the company, valued at approximately $2,079,968. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Gerald Johnson purchased 100 shares of Caterpillar stock in a transaction dated Wednesday, September 4th. The shares were bought at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the purchase, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel M. Dickinson sold 1,300 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $418.00, for a total transaction of $543,400.00. Following the completion of the sale, the director now owns 4,976 shares in the company, valued at approximately $2,079,968. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,749 shares of company stock valued at $9,251,912 in the last ninety days. 0.29% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CAT. JPMorgan Chase & Co. increased their price target on shares of Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Citigroup cut their price target on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Evercore ISI lowered shares of Caterpillar from an “in-line” rating to an “underperform” rating and increased their price objective for the company from $321.00 to $365.00 in a research report on Wednesday. Robert W. Baird increased their price objective on shares of Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. Finally, Truist Financial increased their price objective on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Caterpillar has an average rating of “Hold” and a consensus price target of $365.33.

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.