Caterpillar Inc. (NYSE:CAT) Position Boosted by Smallwood Wealth Investment Management LLC

18 Oct 2024, 12:42 by Scott Moore · The Cerbat Gem

Smallwood Wealth Investment Management LLC raised its holdings in shares of Caterpillar Inc. (NYSE:CAT – Free Report) by 2.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,037 shares of the industrial products company’s stock after acquiring an additional 26 shares during the quarter. Smallwood Wealth Investment Management LLC’s holdings in Caterpillar were worth $405,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Trifecta Capital Advisors LLC grew its stake in Caterpillar by 3.4% during the 3rd quarter. Trifecta Capital Advisors LLC now owns 21,018 shares of the industrial products company’s stock valued at $8,221,000 after acquiring an additional 684 shares in the last quarter. Teamwork Financial Advisors LLC increased its holdings in Caterpillar by 5.5% in the third quarter. Teamwork Financial Advisors LLC now owns 40,346 shares of the industrial products company’s stock worth $15,780,000 after buying an additional 2,087 shares during the last quarter. Bleakley Financial Group LLC raised its position in Caterpillar by 1.5% during the third quarter. Bleakley Financial Group LLC now owns 19,224 shares of the industrial products company’s stock valued at $7,519,000 after acquiring an additional 281 shares in the last quarter. Global Retirement Partners LLC lifted its stake in Caterpillar by 2.2% in the third quarter. Global Retirement Partners LLC now owns 22,964 shares of the industrial products company’s stock valued at $8,982,000 after acquiring an additional 498 shares during the last quarter. Finally, Good Life Advisors LLC increased its stake in shares of Caterpillar by 106.3% during the 3rd quarter. Good Life Advisors LLC now owns 13,108 shares of the industrial products company’s stock worth $5,126,000 after purchasing an additional 6,753 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on CAT. Barclays lifted their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Truist Financial lifted their price objective 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. Bank of America lifted their price objective on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Raymond James began coverage on shares of Caterpillar in a research note on Friday, June 28th. They issued a “market perform” rating for the company. Finally, StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $355.50.

Get Our Latest Report on CAT

Insider Activity

In other news, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the sale, the insider now directly owns 15,615 shares in the company, valued at approximately $5,347,825.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the sale, the insider now directly owns 15,615 shares in the company, valued at approximately $5,347,825.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 owns 2,842 shares in the company, valued at $962,272.78. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.33% of the stock is owned by company insiders.

Caterpillar Stock Performance

NYSE:CAT opened at $394.54 on Friday. The firm’s 50-day moving average is $362.75 and its 200-day moving average is $350.23. Caterpillar Inc. has a 52-week low of $223.76 and a 52-week high of $403.60. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28. The company has a market cap of $192.95 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 1.85 and a beta of 1.10.

Caterpillar (NYSE:CAT – Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.53 by $0.46. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The company had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $16.91 billion. During the same quarter in the previous year, the firm posted $5.55 EPS. The business’s revenue was down 3.6% compared to the same quarter last year. Equities research analysts anticipate that Caterpillar Inc. will post 21.91 earnings per share for the current year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be given a dividend of $1.41 per share. The ex-dividend date is Monday, October 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.43%. Caterpillar’s dividend payout ratio (DPR) is currently 25.46%.

About Caterpillar

(Free Report)

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.