Wilmington Savings Fund Society FSB Acquires 231 Shares of Caterpillar Inc. $CAT

Wilmington Savings Fund Society FSB raised its holdings in Caterpillar Inc. (NYSE:CAT) by 1.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,099 shares of the industrial products company’s stock after buying an additional 231 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Caterpillar were worth $7,803,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. GSB Wealth Management LLC lifted its stake in shares of Caterpillar by 1.2% in the 2nd quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company’s stock valued at $832,000 after purchasing an additional 26 shares during the period. Verum Partners LLC raised its stake in Caterpillar by 2.5% during the second quarter. Verum Partners LLC now owns 1,059 shares of the industrial products company’s stock valued at $411,000 after buying an additional 26 shares during the last quarter. Vanguard Capital Wealth Advisors raised its stake in Caterpillar by 0.8% during the second quarter. Vanguard Capital Wealth Advisors now owns 3,575 shares of the industrial products company’s stock valued at $1,388,000 after buying an additional 27 shares during the last quarter. InTrack Investment Management Inc raised its stake in Caterpillar by 0.6% during the second quarter. InTrack Investment Management Inc now owns 4,683 shares of the industrial products company’s stock valued at $1,818,000 after buying an additional 27 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Caterpillar by 2.4% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,216 shares of the industrial products company’s stock worth $472,000 after purchasing an additional 29 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Chairman Donald J. Umpleby III sold 17,168 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the transaction, the chairman owned 482,505 shares of the company’s stock, valued at approximately $199,211,839.35. This represents a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jason Kaiser sold 2,161 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of the transaction, the insider directly owned 8,632 shares in the company, valued at approximately $3,605,586.40. This trade represents a 20.02% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,819 shares of company stock valued at $16,885,492. 0.33% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have commented on CAT shares. Truist Financial lifted their target price on Caterpillar from $507.00 to $582.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Melius raised Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price objective for the company in a report on Wednesday, July 9th. Evercore ISI raised Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price objective for the company in a report on Tuesday, August 19th. UBS Group lifted their price objective on Caterpillar from $450.00 to $506.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Citigroup lifted their price objective on Caterpillar from $540.00 to $570.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. 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. Based on data from MarketBeat, Caterpillar currently has an average rating of “Moderate Buy” and an average target price of $488.13.

Caterpillar Price Performance

NYSE:CAT opened at $505.11 on Tuesday. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $236.64 billion, a P/E ratio of 25.69, a P/E/G ratio of 3.01 and a beta of 1.46. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $511.50. The business’s 50-day moving average is $444.65 and its 200 day moving average is $385.71.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (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 company had revenue of $16.57 billion for the quarter, compared to analysts’ expectations of $16.14 billion. During the same quarter last year, the company earned $5.99 earnings per share. The company’s revenue for the quarter was down .7% on a year-over-year basis. On average, equities research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

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

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.