Iron Gate Global Advisors LLC Lowers Stock Position in Caterpillar Inc. (NYSE:CAT)

Iron Gate Global Advisors LLC lowered its position in shares of Caterpillar Inc. (NYSE:CAT) by 23.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,338 shares of the industrial products company’s stock after selling 1,000 shares during the quarter. Iron Gate Global Advisors LLC’s holdings in Caterpillar were worth $1,305,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Fisher Asset Management LLC increased its position in Caterpillar by 2.3% during the 3rd quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock valued at $3,501,554,000 after purchasing an additional 205,012 shares during the period. Legal & General Group Plc boosted its stake in shares of Caterpillar by 2.0% in the second quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock valued at $1,286,582,000 after purchasing an additional 75,973 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Caterpillar by 1.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,627,513 shares of the industrial products company’s stock valued at $1,418,793,000 after purchasing an additional 64,452 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Caterpillar by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,227,378 shares of the industrial products company’s stock valued at $1,262,290,000 after purchasing an additional 8,088 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Caterpillar by 5.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock valued at $1,022,488,000 after acquiring an additional 165,358 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CAT has been the subject of several recent analyst reports. Morgan Stanley downgraded Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $349.00 to $332.00 in a research note on Monday, October 14th. Truist Financial increased their target price on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Robert W. Baird lifted their target price on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. Finally, Bank of America boosted their price target on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $365.33.

Caterpillar Stock Down 0.9 %

Caterpillar stock opened at $402.53 on Tuesday. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86. The firm has a market capitalization of $194.34 billion, a PE ratio of 18.66, a P/E/G ratio of 2.01 and a beta of 1.10. Caterpillar Inc. has a fifty-two week low of $252.42 and a fifty-two week high of $418.50. The company’s 50-day moving average is $391.99 and its 200-day moving average is $358.09.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing the consensus estimate of $5.33 by ($0.16). The firm had revenue of $16.11 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the company posted $5.52 EPS. Sell-side analysts anticipate that Caterpillar Inc. will post 21.67 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Monday, October 21st were paid a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend was Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is currently 26.15%.

Insiders Place Their Bets

In other Caterpillar news, insider Anthony D. Fassino sold 6,279 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $408.59, for a total value of $2,565,536.61. Following the completion of the transaction, the insider now owns 33,565 shares in the company, valued at $13,714,323.35. This represents a 15.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Daniel M. Dickinson sold 1,300 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 4,976 shares in the company, valued at $2,079,968. This trade represents a 20.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,868 shares of company stock valued at $9,679,489. 0.29% of the stock is owned by company 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.