Argyle Capital Management LLC Has $4.49 Million Holdings in Caterpillar Inc. $CAT

Argyle Capital Management LLC reduced its holdings in Caterpillar Inc. (NYSE:CAT) by 1.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,569 shares of the industrial products company’s stock after selling 200 shares during the quarter. Caterpillar makes up approximately 1.6% of Argyle Capital Management LLC’s holdings, making the stock its 14th largest holding. Argyle Capital Management LLC’s holdings in Caterpillar were worth $4,491,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Family Legacy Financial Solutions LLC acquired a new position in shares of Caterpillar in the 2nd quarter worth approximately $32,000. Compass Financial Services Inc lifted its holdings in Caterpillar by 49.2% during the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after buying an additional 31 shares in the last quarter. Redmont Wealth Advisors LLC acquired a new position in Caterpillar during the 1st quarter worth $33,000. Maseco LLP acquired a new position in Caterpillar during the 2nd quarter worth $45,000. Finally, Park Place Capital Corp lifted its holdings in Caterpillar by 47.6% during the 2nd quarter. Park Place Capital Corp now owns 124 shares of the industrial products company’s stock worth $48,000 after buying an additional 40 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CAT has been the topic of several research reports. Melius raised Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price objective on the stock in a report on Wednesday, July 9th. Truist Financial upped their price objective on Caterpillar from $507.00 to $582.00 and gave the stock a “buy” rating in a report on Wednesday. Melius Research raised Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price objective on the stock in a report on Wednesday, July 9th. Robert W. Baird increased their price target on Caterpillar from $495.00 to $540.00 and gave the company an “outperform” rating in a research note on Wednesday, September 17th. Finally, JPMorgan Chase & Co. increased their price target on Caterpillar from $475.00 to $520.00 and gave the company an “overweight” rating in a research note on Wednesday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Caterpillar currently has a consensus rating of “Moderate Buy” and an average price target of $478.20.

Caterpillar Price Performance

CAT opened at $500.10 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $509.48. The company has a fifty day simple moving average of $441.97 and a 200 day simple moving average of $382.85. The stock has a market cap of $234.29 billion, a P/E ratio of 25.44, a P/E/G ratio of 3.05 and a beta of 1.46.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing analysts’ consensus estimates of $4.88 by ($0.16). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The firm had revenue of $16.57 billion during the quarter, compared to the consensus estimate of $16.14 billion. During the same quarter in the prior year, the company earned $5.99 EPS. Caterpillar’s quarterly revenue was down .7% on a year-over-year basis. On average, research analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Monday, October 20th. Caterpillar’s dividend payout ratio is 30.72%.

Insiders Place Their Bets

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the transaction, the insider owned 8,632 shares in the company, valued at approximately $3,605,586.40. This represents a 20.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Susan C. Schwab sold 2,324 shares of the stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the transaction, the director owned 6,917 shares of the company’s stock, valued at approximately $2,835,970. This trade represents a 25.15% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,819 shares of company stock worth $16,885,492. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Company 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.