OneAscent Financial Services LLC Makes New $4.37 Million Investment in Caterpillar Inc. (NYSE:CAT)

OneAscent Financial Services LLC acquired a new position in Caterpillar Inc. (NYSE:CAT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 11,171 shares of the industrial products company’s stock, valued at approximately $4,369,000. Caterpillar comprises about 3.1% of OneAscent Financial Services LLC’s investment portfolio, making the stock its 6th largest holding.

Other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC raised its stake in shares of Caterpillar by 39,534.0% during the third quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock valued at $8,356,930,000 after acquiring an additional 2,131,276 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Caterpillar by 306.9% during the first quarter. Canada Pension Plan Investment Board now owns 407,677 shares of the industrial products company’s stock valued at $149,385,000 after acquiring an additional 307,479 shares in the last quarter. Altshuler Shaham Ltd raised its stake in shares of Caterpillar by 3,319.7% during the second quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company’s stock valued at $91,606,000 after acquiring an additional 266,969 shares in the last quarter. Swedbank AB bought a new stake in shares of Caterpillar during the first quarter valued at approximately $97,042,000. Finally, Capital International Investors raised its stake in shares of Caterpillar by 99.9% during the first quarter. Capital International Investors now owns 488,660 shares of the industrial products company’s stock valued at $179,060,000 after acquiring an additional 244,253 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Insider Activity

In other 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 sale, the insider now directly owns 71,107 shares of the company’s stock, valued at $29,171,646.75. The trade was a 15.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gerald Johnson purchased 100 shares of the stock in a transaction on Wednesday, September 4th. The stock was acquired 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 owns 2,842 shares of the company’s stock, valued at $962,272.78. The trade was a 3.65 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 23,749 shares of company stock valued at $9,251,912 over the last ninety days. 0.29% of the stock is currently owned by insiders.

Caterpillar Price Performance

NYSE CAT opened at $384.53 on Tuesday. The firm’s fifty day simple moving average is $381.86 and its two-hundred day simple moving average is $354.37. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. Caterpillar Inc. has a 12-month low of $241.81 and a 12-month high of $418.50. The firm has a market capitalization of $185.65 billion, a P/E ratio of 17.83, a P/E/G ratio of 1.90 and a beta of 1.10.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing analysts’ consensus estimates 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%. Caterpillar’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period last year, the firm earned $5.52 earnings per share. Analysts forecast that Caterpillar Inc. will post 21.68 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders 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 1.47%. The ex-dividend date is Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CAT. Barclays lifted their price target on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Robert W. Baird lifted their price target on shares of Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. Citigroup cut their price objective on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Evercore ISI lowered shares of Caterpillar from an “in-line” rating to an “underperform” rating and lifted their price objective for the company from $321.00 to $365.00 in a report on Wednesday, November 13th. Finally, Bank of America lifted their price objective on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a report on Monday, September 30th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $365.33.

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.