Concord Wealth Partners Purchases 520 Shares of Caterpillar Inc. (NYSE:CAT)

by · The Cerbat Gem

Concord Wealth Partners boosted its position in shares of Caterpillar Inc. (NYSE:CAT – Free Report) by 5.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,294 shares of the industrial products company’s stock after purchasing an additional 520 shares during the period. Concord Wealth Partners’ holdings in Caterpillar were worth $3,635,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CAT. Bbjs Financial Advisors LLC bought a new position in shares of Caterpillar in the second quarter worth about $28,000. Financial Connections Group Inc. purchased a new position in Caterpillar during the 2nd quarter worth $28,000. Fairman Group LLC bought a new stake in Caterpillar during the 1st quarter valued at $29,000. Fairscale Capital LLC purchased a new stake in shares of Caterpillar in the 2nd quarter worth $36,000. Finally, POM Investment Strategies LLC grew its position in shares of Caterpillar by 2,160.0% during the 2nd 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 in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar 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 completion of the transaction, the insider now owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Gerald Johnson acquired 100 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were acquired at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the acquisition, the director now directly owns 2,842 shares in the company, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the transaction, the insider now owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Truist Financial upped their price objective on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Citigroup lifted their price objective on shares of Caterpillar from $380.00 to $445.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Morgan Stanley lowered Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $349.00 to $332.00 in a report on Monday, October 14th. JPMorgan Chase & Co. lifted their price target on Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, Barclays upped their price objective on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $355.50.

Check Out Our Latest Research Report on Caterpillar

Caterpillar Stock Performance

CAT stock traded up $4.43 during midday trading on Monday, reaching $390.40. The stock had a trading volume of 409,456 shares, compared to its average volume of 2,611,938. The firm has a fifty day simple moving average of $368.57 and a two-hundred day simple moving average of $350.66. 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 stock has a market cap of $190.93 billion, a PE ratio of 17.43, a P/E/G ratio of 1.85 and a beta of 1.10.

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

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be given a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 1.44%. The ex-dividend date is Monday, October 21st. Caterpillar’s dividend payout ratio is currently 25.46%.

Caterpillar Profile

(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.

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