IronBridge Private Wealth LLC Raises Position in Caterpillar Inc. (NYSE:CAT)

IronBridge Private Wealth LLC boosted its stake in Caterpillar Inc. (NYSE:CAT) by 0.5% during the third quarter, Holdings Channel.com reports. The fund owned 13,728 shares of the industrial products company’s stock after purchasing an additional 73 shares during the quarter. Caterpillar comprises 2.0% of IronBridge Private Wealth LLC’s investment portfolio, making the stock its 16th biggest position. IronBridge Private Wealth LLC’s holdings in Caterpillar were worth $5,369,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Bbjs Financial Advisors LLC acquired a new position in Caterpillar in the second quarter valued at $28,000. Financial Connections Group Inc. bought a new position in shares of Caterpillar during the second quarter worth about $28,000. Fairscale Capital LLC acquired a new stake in shares of Caterpillar in the 2nd quarter worth about $36,000. Capital Performance Advisors LLP acquired a new stake in shares of Caterpillar in the third quarter valued at $36,000. Finally, POM Investment Strategies LLC boosted its position in shares of Caterpillar by 2,160.0% in the second quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock worth $38,000 after buying an additional 108 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Buying and Selling

In other news, insider Lange Bob De sold 12,657 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $410.25, for a total value of $5,192,534.25. Following the completion of the transaction, the insider now owns 71,107 shares in the company, valued at $29,171,646.75. This trade represents a 15.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gerald Johnson bought 100 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was acquired 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 3.65 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 23,868 shares of company stock worth $9,679,489. 0.29% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently commented on CAT shares. Morgan Stanley lowered Caterpillar from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $349.00 to $332.00 in a research note on Monday, October 14th. JPMorgan Chase & Co. raised 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. Truist Financial boosted their price objective on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Barclays increased their price objective on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. Finally, Robert W. Baird upped their price target on shares of Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. Four 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. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $365.33.

Caterpillar Price Performance

Shares of CAT stock opened at $402.53 on Tuesday. Caterpillar Inc. has a 12-month low of $252.42 and a 12-month high of $418.50. The firm has a fifty day moving average of $391.99 and a 200-day moving average of $358.09. The firm has a market capitalization of $194.34 billion, a price-to-earnings ratio of 18.66, a price-to-earnings-growth ratio of 2.01 and a beta of 1.10. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The firm had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The business’s revenue was down 4.2% compared to the same quarter last year. During the same period last year, the company posted $5.52 EPS. On average, equities research analysts forecast that Caterpillar Inc. will post 21.67 earnings per share for the current year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st were given a $1.41 dividend. The ex-dividend date was Monday, October 21st. This represents a $5.64 annualized dividend and a yield of 1.40%. Caterpillar’s payout ratio is presently 26.15%.

About Caterpillar

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.