Birmingham Capital Management Co. Inc. AL lessened its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 7.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,105 shares of the industrial products company's stock after selling 3,760 shares during the period. Caterpillar accounts for 6.7% of Birmingham Capital Management Co. Inc. AL's portfolio, making the stock its largest holding. Birmingham Capital Management Co. Inc. AL's holdings in Caterpillar were worth $18,424,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently bought and sold shares of CAT. Financial Connections Group Inc. bought a new position in Caterpillar in the 2nd quarter worth approximately $28,000. Fairscale Capital LLC acquired a new position in Caterpillar in the second quarter valued at about $36,000. Capital Performance Advisors LLP acquired a new position in shares of Caterpillar in the third quarter valued at approximately $36,000. POM Investment Strategies LLC lifted its holdings 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 valued at $38,000 after purchasing an additional 108 shares in the last quarter. Finally, Kimelman & Baird LLC lifted its position in Caterpillar by 42.9% during the 3rd quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company's stock worth $39,000 after buying an additional 30 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.
NYSE CAT traded up $0.96 on Friday, reaching $381.74. 350,040 shares of the company's stock traded hands, compared to its average volume of 2,545,945. The stock has a market cap of $184.30 billion, a PE ratio of 17.65, a P/E/G ratio of 1.92 and a beta of 1.10. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86. Caterpillar Inc. has a 12 month low of $270.55 and a 12 month high of $418.50. The stock has a 50-day simple moving average of $392.83 and a 200 day simple moving average of $360.00.
Caterpillar (NYSE:CAT - Get Free Report) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing the consensus estimate of $5.33 by ($0.16). The company had revenue of $16.11 billion for the quarter, compared to analysts' expectations of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The company's revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.52 earnings per share. As a group, research analysts predict that Caterpillar Inc. will post 21.68 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st will be given a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 1.48%. The ex-dividend date is Tuesday, January 21st. Caterpillar's dividend payout ratio is currently 26.15%.
A number of equities research analysts have recently issued reports on CAT shares. UBS Group upped their target price on shares of Caterpillar from $285.00 to $295.00 and gave the company a "sell" rating in a report on Monday, November 4th. Citigroup increased their price objective on shares of Caterpillar from $435.00 to $460.00 and gave the company a "buy" rating in a research report on Monday. Jefferies Financial Group lifted their price target on shares of Caterpillar from $455.00 to $475.00 and gave the company a "buy" rating in a research report on Friday, December 6th. Truist Financial upped their target price on Caterpillar from $399.00 to $456.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. Finally, StockNews.com upgraded shares of Caterpillar from a "hold" rating to a "buy" rating in a research report on Tuesday. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $374.69.
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In other Caterpillar news, insider Lange Bob De sold 12,657 shares of the business's stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the completion of the sale, the insider now directly owns 71,107 shares in the company, valued at approximately $29,171,646.75. The trade was a 15.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Cheryl H. Johnson sold 2,664 shares of the company's stock in a transaction on Monday, November 4th. The shares were sold at an average price of $378.84, for a total value of $1,009,229.76. Following the sale, the insider now owns 12,951 shares of the company's stock, valued at approximately $4,906,356.84. This trade represents a 17.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,868 shares of company stock valued at $9,679,489 over the last quarter. Corporate insiders own 0.29% of the company's stock.
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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