Caterpillar Inc. $CAT Shares Purchased by Fiduciary Wealth Partners LLC

Fiduciary Wealth Partners LLC lifted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 426.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 721 shares of the industrial products company’s stock after buying an additional 584 shares during the quarter. Fiduciary Wealth Partners LLC’s holdings in Caterpillar were worth $280,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CAT. Valeo Financial Advisors LLC increased its position in shares of Caterpillar by 36,842.1% during the second quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock worth $2,833,836,000 after purchasing an additional 7,279,991 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Caterpillar by 2,723.1% in the first quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company’s stock valued at $466,430,000 after buying an additional 1,364,183 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Caterpillar in the first quarter valued at approximately $391,788,000. Assenagon Asset Management S.A. grew its position in shares of Caterpillar by 546.6% during the second quarter. Assenagon Asset Management S.A. now owns 843,093 shares of the industrial products company’s stock worth $327,297,000 after acquiring an additional 712,711 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Caterpillar by 9.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company’s stock valued at $1,064,951,000 after acquiring an additional 268,300 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Erste Group Bank raised shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Truist Financial upped their price objective on Caterpillar from $507.00 to $582.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Royal Bank Of Canada assumed coverage on Caterpillar in a research note on Wednesday. They issued a “sector perform” rating and a $560.00 target price on the stock. DA Davidson upped their price target on Caterpillar from $331.00 to $388.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 22nd. Finally, Melius upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price objective on the stock in a research report on Wednesday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $518.19.

Caterpillar Trading Up 0.3%

NYSE:CAT opened at $522.13 on Friday. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $544.99. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. The stock has a fifty day moving average price of $464.46 and a two-hundred day moving average price of $399.24. The stock has a market capitalization of $244.61 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 2.98 and a beta of 1.46.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing analysts’ consensus estimates of $4.88 by ($0.16). The company had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The business’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the company earned $5.99 earnings per share. As a group, sell-side analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The business 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 $1.51 dividend. The ex-dividend date of this dividend 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 (DPR) is 30.72%.

Insider Activity

In other news, insider Jason Kaiser sold 2,161 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the sale, the insider owned 8,632 shares of the company’s stock, valued at $3,605,586.40. The trade was a 20.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,166 shares of the firm’s stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $505.29, for a total value of $8,673,808.14. Following the completion of the transaction, the chairman directly owned 448,173 shares of the company’s stock, valued at $226,457,335.17. The trade was a 3.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 55,985 shares of company stock worth $25,559,300. Company insiders own 0.33% of the company’s stock.

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.