1,900 Shares in Caterpillar Inc. (NYSE:CAT) Acquired by OneAscent Wealth Management LLC

OneAscent Wealth Management LLC acquired a new position in Caterpillar Inc. (NYSE:CAT) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,900 shares of the industrial products company’s stock, valued at approximately $743,000.

Other hedge funds also recently added to or reduced their stakes in the company. Bbjs Financial Advisors LLC bought a new stake in Caterpillar in the 2nd quarter worth approximately $28,000. Financial Connections Group Inc. bought a new stake in Caterpillar in the 2nd quarter worth approximately $28,000. Fairscale Capital LLC bought a new stake in Caterpillar in the 2nd quarter worth approximately $36,000. Capital Performance Advisors LLP bought a new stake in Caterpillar in the 3rd quarter worth approximately $36,000. Finally, POM Investment Strategies LLC grew its position in Caterpillar by 2,160.0% in the 2nd quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 108 shares during the period. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Price Performance

CAT stock traded up $0.67 during mid-day trading on Monday, hitting $384.74. The company had a trading volume of 109,525 shares, compared to its average volume of 2,602,600. The company has a market capitalization of $185.75 billion, a price-to-earnings ratio of 17.81, a P/E/G ratio of 1.90 and a beta of 1.10. Caterpillar Inc. has a 12-month low of $241.81 and a 12-month high of $418.50. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. The company has a 50-day moving average price of $381.86 and a 200 day moving average price of $354.37.

Caterpillar (NYSE:CAT) last announced its quarterly 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). The company had revenue of $16.11 billion during the quarter, compared to analysts’ expectations of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.52 EPS. On average, research analysts anticipate that Caterpillar Inc. will post 21.68 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 paid a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.47%. The ex-dividend date is Monday, October 21st. Caterpillar’s payout ratio is currently 26.15%.

Wall Street Analysts Forecast Growth

CAT has been the subject of a number of recent research reports. Truist Financial boosted 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. Evercore ISI downgraded shares of Caterpillar from an “in-line” rating to an “underperform” rating and boosted their price objective for the company from $321.00 to $365.00 in a research report on Wednesday, November 13th. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Barclays boosted their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. Finally, UBS Group boosted their price objective on shares of Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a research report on Monday, November 4th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $365.33.

Insiders Place Their Bets

In other news, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the sale, the insider now directly owns 33,442 shares in the company, valued at approximately $11,750,181.12. This represents a 8.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 2,842 shares in the company, valued at approximately $962,272.78. This represents a 3.65 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 23,749 shares of company stock worth $9,251,912 in the last 90 days. 0.29% of the stock is currently owned by corporate insiders.

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.