Raymond James Trust N.A. Buys 224 Shares of Caterpillar Inc. (NYSE:CAT)

Raymond James Trust N.A. grew its stake in shares of Caterpillar Inc. (NYSE:CAT) by 1.0% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 23,678 shares of the industrial products company’s stock after acquiring an additional 224 shares during the quarter. Raymond James Trust N.A.’s holdings in Caterpillar were worth $9,261,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Altiora Financial Group LLC acquired a new position in Caterpillar during the third quarter valued at approximately $234,000. 49 Wealth Management LLC increased its stake in shares of Caterpillar by 33.9% in the 3rd quarter. 49 Wealth Management LLC now owns 988 shares of the industrial products company’s stock valued at $387,000 after purchasing an additional 250 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Caterpillar by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,227,378 shares of the industrial products company’s stock worth $1,262,290,000 after buying an additional 8,088 shares during the last quarter. Banco Santander S.A. boosted its stake in Caterpillar by 27.8% in the third quarter. Banco Santander S.A. now owns 91,707 shares of the industrial products company’s stock valued at $35,868,000 after buying an additional 19,942 shares in the last quarter. Finally, Pacer Advisors Inc. grew its position in Caterpillar by 1.8% in the third quarter. Pacer Advisors Inc. now owns 45,930 shares of the industrial products company’s stock valued at $17,964,000 after acquiring an additional 824 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Insider Transactions at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. This trade represents a 8.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO William E. Schaupp sold 968 shares of the company’s stock in a transaction dated 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 owns 1,686 shares in the company, valued at $642,332.28. This represents a 36.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,774 shares of company stock valued at $8,233,034 in the last 90 days. 0.29% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CAT. StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Truist Financial raised their target price 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. Robert W. Baird boosted their target price on shares of Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. Evercore ISI cut Caterpillar from an “in-line” rating to an “underperform” rating and increased their price target for the company from $321.00 to $365.00 in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. boosted their price objective on Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $365.33.

Caterpillar Stock Up 2.3 %

Caterpillar stock opened at $390.26 on Friday. The firm has a market cap of $188.42 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 1.89 and a beta of 1.10. Caterpillar Inc. has a 52-week low of $241.81 and a 52-week high of $418.50. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40. The firm has a 50 day moving average price of $385.77 and a two-hundred day moving average price of $355.46.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The business had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. During the same quarter in the previous year, the business posted $5.52 earnings per share. The business’s revenue was down 4.2% on a year-over-year basis. Equities analysts predict that Caterpillar Inc. will post 21.68 EPS for the current year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st were paid a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.45%. The ex-dividend date was Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is currently 26.15%.

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.