Marcum Wealth LLC Boosts Holdings in Caterpillar Inc. (NYSE:CAT)

Marcum Wealth LLC boosted its stake in Caterpillar Inc. (NYSE:CAT) by 3.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,649 shares of the industrial products company’s stock after buying an additional 87 shares during the period. Marcum Wealth LLC’s holdings in Caterpillar were worth $1,036,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CAT. CWM LLC lifted its holdings in shares of Caterpillar by 11.8% during the third quarter. CWM LLC now owns 77,811 shares of the industrial products company’s stock valued at $30,433,000 after purchasing an additional 8,212 shares during the last quarter. Saxon Interests Inc. increased its position in shares of Caterpillar by 2.1% during the third quarter. Saxon Interests Inc. now owns 3,186 shares of the industrial products company’s stock valued at $1,246,000 after acquiring an additional 66 shares in the last quarter. Perkins Coie Trust Co lifted its position in Caterpillar by 1.3% in the 3rd quarter. Perkins Coie Trust Co now owns 6,361 shares of the industrial products company’s stock valued at $2,488,000 after acquiring an additional 83 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in Caterpillar during the 3rd quarter valued at $125,000. Finally, Osher Van de Voorde Investment Management bought a new position in Caterpillar during the third quarter valued at approximately $235,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

NYSE:CAT opened at $396.19 on Thursday. The stock has a market cap of $193.76 billion, a P/E ratio of 17.89, a PEG ratio of 1.73 and a beta of 1.10. Caterpillar Inc. has a one year low of $223.76 and a one year high of $401.17. The company has a fifty day moving average price of $353.51 and a 200 day moving average price of $348.44. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, topping the consensus estimate of $5.53 by $0.46. The business had revenue of $16.69 billion for 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 quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the firm earned $5.55 EPS. Analysts anticipate that Caterpillar Inc. will post 21.91 earnings per share for the current 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 given a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.42%. Caterpillar’s payout ratio is 25.46%.

Caterpillar declared that its board has approved a share buyback program on Wednesday, June 12th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to purchase up to 12.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts have recently commented on CAT shares. Bank of America raised their price objective on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Evercore ISI lowered their price objective on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Raymond James assumed coverage on Caterpillar in a research report on Friday, June 28th. They set a “market perform” rating for the company. Finally, Truist Financial boosted their target price on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $347.56.

Insider Activity at Caterpillar

In related news, Director Gerald Johnson bought 100 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were purchased at an average cost of $338.59 per share, with a total value of $33,859.00. Following the acquisition, the director now owns 2,842 shares of the company’s stock, valued at $962,272.78. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the firm’s 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 directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gerald Johnson acquired 100 shares of Caterpillar stock in a transaction dated Wednesday, September 4th. The shares were bought at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the purchase, the director now directly owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 7,668 shares of company stock valued at $2,665,760 over the last three months. 0.33% of the stock is owned by insiders.

About Caterpillar

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.