Naviter Wealth LLC Has $2.25 Million Position in Caterpillar Inc. (NYSE:CAT)

by · The Markets Daily

Naviter Wealth LLC lessened its position in Caterpillar Inc. (NYSE:CAT – Free Report) by 1.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,750 shares of the industrial products company’s stock after selling 61 shares during the quarter. Naviter Wealth LLC’s holdings in Caterpillar were worth $2,249,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Thompson Investment Management Inc. acquired a new stake in Caterpillar in the 1st quarter valued at approximately $27,000. Fairman Group LLC acquired a new position in shares of Caterpillar during the 1st quarter worth approximately $29,000. Bbjs Financial Advisors LLC acquired a new position in shares of Caterpillar during the 2nd quarter worth approximately $28,000. Financial Connections Group Inc. bought a new position in shares of Caterpillar during the 2nd quarter worth approximately $28,000. Finally, Fairscale Capital LLC bought a new position in shares of Caterpillar during the 2nd quarter worth approximately $36,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Price Performance

Shares of CAT traded up $3.34 during midday trading on Thursday, reaching $396.96. The stock had a trading volume of 132,345 shares, compared to its average volume of 2,634,669. The company’s 50-day moving average is $361.58 and its 200 day moving average is $349.92. Caterpillar Inc. has a 12-month low of $223.76 and a 12-month high of $403.60. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $194.13 billion, a price-to-earnings ratio of 17.87, a price-to-earnings-growth 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 analysts’ consensus estimates of $5.53 by $0.46. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The firm had revenue of $16.69 billion during the quarter, compared to analysts’ expectations of $16.91 billion. During the same period in the prior year, the business earned $5.55 EPS. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, equities analysts predict that Caterpillar Inc. will post 21.91 EPS for the current fiscal year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be paid a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is presently 25.46%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Morgan Stanley downgraded Caterpillar from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $349.00 to $332.00 in a research note on Monday. Truist Financial lifted their target price on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. UBS Group boosted their price target on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research note on Wednesday, August 7th. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, JPMorgan Chase & Co. boosted their price target on Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $355.50.

Check Out Our Latest Research Report on CAT

Insider Activity

In related news, Director Gerald Johnson bought 100 shares of the stock in a transaction dated Wednesday, September 4th. The stock was bought at an average price of $338.59 per share, with a total value of $33,859.00. Following the purchase, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In other Caterpillar news, Director Gerald Johnson purchased 100 shares of the stock in a transaction on Wednesday, September 4th. The stock was acquired at an average price of $338.59 per share, with a total value of $33,859.00. Following the transaction, the director now directly owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Anthony D. Fassino sold 3,185 shares of the company’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 transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

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.

Further Reading

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