Allspring Global Investments Holdings LLC Has $43.57 Million Stock Position in Caterpillar Inc. (NYSE:CAT)

Allspring Global Investments Holdings LLC boosted its position in Caterpillar Inc. (NYSE:CAT) by 9.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 111,400 shares of the industrial products company’s stock after acquiring an additional 9,572 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Caterpillar were worth $43,571,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Thompson Investment Management Inc. acquired a new stake in shares of Caterpillar during the first quarter worth $27,000. Sound Income Strategies LLC grew its position in shares of Caterpillar by 34.3% during the 1st quarter. Sound Income Strategies LLC now owns 1,900 shares of the industrial products company’s stock worth $696,000 after buying an additional 485 shares during the period. Atlas Capital Advisors LLC increased its stake in shares of Caterpillar by 1,041.4% in the 1st quarter. Atlas Capital Advisors LLC now owns 331 shares of the industrial products company’s stock valued at $121,000 after acquiring an additional 302 shares during the last quarter. Sunbelt Securities Inc. raised its position in shares of Caterpillar by 4.1% in the 1st quarter. Sunbelt Securities Inc. now owns 3,874 shares of the industrial products company’s stock valued at $1,420,000 after acquiring an additional 151 shares during the period. Finally, Brookstone Capital Management grew its holdings in Caterpillar by 3.2% during the first quarter. Brookstone Capital Management now owns 31,859 shares of the industrial products company’s stock valued at $11,674,000 after purchasing an additional 996 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Caterpillar

In related news, Director Gerald Johnson acquired 100 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were purchased at an average cost of $338.59 per share, for a total transaction 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $351.36, for a total value 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gerald Johnson purchased 100 shares of the company’s stock in a transaction that occurred 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 completion of the acquisition, the director now owns 2,842 shares in the company, valued at $962,272.78. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.33% of the stock is owned by company insiders.

Caterpillar Price Performance

Shares of CAT opened at $388.48 on Wednesday. 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’s fifty day simple moving average is $365.94 and its 200 day simple moving average is $350.37. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $403.60. The company has a market cap of $189.99 billion, a price-to-earnings ratio of 17.54, a PEG ratio of 1.85 and a beta of 1.10.

Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The company had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $16.91 billion. During the same period in the prior year, the firm earned $5.55 EPS. Caterpillar’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, research analysts forecast that Caterpillar Inc. will post 21.91 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be issued a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Monday, October 21st. Caterpillar’s payout ratio is presently 25.46%.

Wall Street Analyst Weigh In

CAT has been the topic of a number of recent analyst reports. Truist Financial lifted their price target on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Bank of America boosted their price objective on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research report on Monday, September 30th. UBS Group raised their target price on shares of Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a report on Wednesday, August 7th. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Finally, Evercore ISI cut their price objective on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Caterpillar currently has a consensus rating of “Hold” and an average target price of $355.50.

Caterpillar Profile

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.