Family Capital Management Inc. Takes $214,000 Position in Caterpillar Inc. (NYSE:CAT)

Family Capital Management Inc. purchased a new position in shares of Caterpillar Inc. (NYSE:CAT) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 546 shares of the industrial products company’s stock, valued at approximately $214,000.

Other hedge funds also recently added to or reduced their stakes in the company. Alpha Cubed Investments LLC raised its holdings in shares of Caterpillar by 5.6% in the third quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock worth $45,591,000 after buying an additional 6,212 shares during the period. Citizens Financial Group Inc. RI increased its stake in Caterpillar by 43.0% in the third quarter. Citizens Financial Group Inc. RI now owns 13,902 shares of the industrial products company’s stock worth $5,437,000 after purchasing an additional 4,181 shares during the period. First Affirmative Financial Network bought a new stake in shares of Caterpillar during the third quarter worth $204,000. Inspire Advisors LLC grew its holdings in shares of Caterpillar by 25.8% in the third quarter. Inspire Advisors LLC now owns 8,266 shares of the industrial products company’s stock worth $3,233,000 after purchasing an additional 1,694 shares during the last quarter. Finally, Jackson Square Capital LLC increased its stake in Caterpillar by 33.7% in the 3rd quarter. Jackson Square Capital LLC now owns 16,581 shares of the industrial products company’s stock worth $6,485,000 after buying an additional 4,182 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Insider Activity at Caterpillar

In related news, 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 value of $368,788.64. Following the completion of the transaction, the chief accounting officer now owns 1,686 shares of the company’s stock, valued at approximately $642,332.28. This represents a 36.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 33,442 shares in the company, valued at approximately $11,750,181.12. The trade was a 8.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,774 shares of company stock worth $8,233,034. 0.29% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CAT shares. Morgan Stanley downgraded shares of Caterpillar from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $349.00 to $332.00 in a research note on Monday, October 14th. Truist Financial raised their price objective on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Evercore ISI cut Caterpillar from an “in-line” rating to an “underperform” rating and upped their target price for the stock from $321.00 to $365.00 in a report on Wednesday, November 13th. Robert W. Baird upped their price objective 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. Finally, StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $365.33.

Caterpillar Stock Performance

CAT opened at $397.49 on Friday. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. Caterpillar Inc. has a 12-month low of $246.01 and a 12-month high of $418.50. The firm has a 50 day moving average of $386.81 and a two-hundred day moving average of $355.84. The firm has a market capitalization of $191.91 billion, a PE ratio of 18.43, a P/E/G ratio of 1.92 and a beta of 1.10.

Caterpillar (NYSE:CAT) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.33 by ($0.16). The business had revenue of $16.11 billion for 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 company’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period last year, the business earned $5.52 EPS. On average, analysts anticipate that Caterpillar Inc. will post 21.68 EPS for the current year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Monday, October 21st were issued a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend was Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is 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.