Caterpillar Inc. $CAT Stock: Russell Investments Group Ltd. Boosts Position

Russell Investments Group Ltd. lifted its stake in Caterpillar Inc. (NYSE:CAT) by 8.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 254,426 shares of the industrial products company’s stock after acquiring an additional 18,762 shares during the period. Russell Investments Group Ltd. owned approximately 0.06% of Caterpillar worth $206,631,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Decker Retirement Planning Inc. boosted its stake in Caterpillar by 440.0% in the 2nd quarter. Decker Retirement Planning Inc. now owns 27 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 22 shares during the period. Matrix Trust Co grew its holdings in Caterpillar by 93.8% during the 2nd quarter. Matrix Trust Co now owns 31 shares of the industrial products company’s stock valued at $33,000 after buying an additional 15 shares in the last quarter. Axiom Investment Management LLC purchased a new position in Caterpillar during the 2nd quarter valued at about $36,000. PFS Partners LLC increased its position in shares of Caterpillar by 1,750.0% during the third quarter. PFS Partners LLC now owns 37 shares of the industrial products company’s stock valued at $30,000 after buying an additional 35 shares during the period. Finally, Tacita Capital Inc bought a new stake in shares of Caterpillar during the second quarter valued at about $47,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Caterpillar

In related news, Director C Jr bought 1,000 shares of the stock in a transaction that occurred on Monday, November 2nd. The shares were acquired at an average cost of $620.39 per share, with a total value of $620,390.00. Following the completion of the purchase, the director directly owned 4,714 shares of the company’s stock, valued at $2,924,518.46. This trade represents a 26.93% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Joseph E. Creed sold 32,401 shares of Caterpillar stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $808.98, for a total transaction of $26,211,760.98. Following the sale, the chief executive officer owned 34,555 shares of the company’s stock, valued at approximately $27,954,303.90. The trade was a 48.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Price Performance

Caterpillar stock opened at $605.54 on Friday. The stock has a market cap of $277.09 billion, a price-to-earnings ratio of 23.76, a PEG ratio of 1.04 and a beta of 1.65. The company has a quick ratio of 0.88, a current ratio of 1.42 and a debt-to-equity ratio of 1.50. The business has a 50-day simple moving average of $744.62 and a 200 day simple moving average of $805.40. Caterpillar Inc. has a 52 week low of $537.08 and a 52 week high of $1,073.46.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, October 29th. The industrial products company reported $7.20 earnings per share for the quarter, beating the consensus estimate of $7.06 by $0.14. The firm had revenue of $20.68 billion for the quarter, compared to analysts’ expectations of $20.76 billion. Caterpillar had a return on equity of 59.87% and a net margin of 15.21%. The company’s revenue was up 17.3% compared to the same quarter last year. During the same quarter last year, the firm posted $4.95 EPS. On average, research analysts forecast that Caterpillar Inc. will post 27.38 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Monday, October 26th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Monday, October 26th. Caterpillar’s dividend payout ratio is 25.58%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CAT shares. Morgan Stanley lowered their price target on shares of Caterpillar from $915.00 to $675.00 and set an “equal weight” rating on the stock in a report on Friday, October 30th. Weiss Ratings cut shares of Caterpillar from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, October 29th. Royal Bank Of Canada decreased their target price on shares of Caterpillar from $897.00 to $722.00 and set a “sector perform” rating on the stock in a report on Friday, October 30th. Freedom Broker decreased their target price on shares of Caterpillar from $980.00 to $800.00 and set a “buy” rating on the stock in a report on Monday, November 2nd. Finally, Truist Financial reiterated a “buy” rating and issued a $1,027.00 target price (down from $1,100.00) on shares of Caterpillar in a research note on Friday, October 30th. Fifteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $898.25.

More Caterpillar News

Here’s some of the latest news about CAT:

• Positive Sentiment: Caterpillar ended the third quarter with a record $78 billion backlog, nearly double the year-earlier level. Demand across construction, mining and power-generation equipment provides revenue visibility, while capacity expansion and automation investments could support growth. Article: CAT’s Record $78B Backlog Signals Strength: Can Growth Continue?
• Positive Sentiment: Evercore ISI retained its Outperform rating and sees potential upside from current levels, despite cutting its price target to $833 from $1,045. Bank of America also maintained its Buy rating. Article: Caterpillar Keeps Sliding: Why Evercore ISI Still Sees 40% Upside
• Neutral Sentiment: Recent commentary debates whether CAT’s substantial multi-year gains leave the stock fairly valued and how much recovery potential remains, rather than pointing to a clear near-term catalyst. Article: How Much Downside Is Left In Caterpillar Stock?

About Caterpillar

Caterpillar Inc. is a global manufacturer of construction and mining equipment, engines, turbines, and related products and services. Its offerings include earthmoving and material-handling machines, diesel and natural gas engines, power-generation systems, and equipment and technologies used in mining and transportation. The company’s products are commonly sold under the Cat brand. Caterpillar serves customers in markets around the world through a network of independent dealers. Its businesses also provide parts, maintenance, equipment rental, and other support services, as well as financing and insurance through its financial services operations.