Nisa Investment Advisors LLC Has $62.26 Million Stake in Caterpillar Inc. $CAT

Nisa Investment Advisors LLC lowered its stake in Caterpillar Inc. (NYSE:CAT) by 6.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 160,371 shares of the industrial products company’s stock after selling 10,814 shares during the period. Nisa Investment Advisors LLC’s holdings in Caterpillar were worth $62,258,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CAT. Mid American Wealth Advisory Group Inc. acquired a new position in Caterpillar during the second quarter valued at approximately $28,000. Family Legacy Financial Solutions LLC bought a new stake in shares of Caterpillar during the 2nd quarter worth $32,000. Harbor Asset Planning Inc. acquired a new position in Caterpillar in the 2nd quarter valued at $34,000. Compass Financial Services Inc raised its holdings in Caterpillar by 49.2% in the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 31 shares during the period. Finally, Redmont Wealth Advisors LLC acquired a new position in Caterpillar during the 1st quarter worth $33,000. 70.98% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Susan C. Schwab sold 2,324 shares of Caterpillar stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the sale, the director owned 6,917 shares in the company, valued at $2,835,970. The trade was a 25.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the completion of the transaction, the chairman owned 482,505 shares in the company, valued at $199,211,839.35. This represents a 3.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,985 shares of company stock valued at $25,559,300. 0.33% of the stock is currently owned by insiders.

Caterpillar Stock Performance

Shares of Caterpillar stock opened at $522.13 on Friday. The firm has a 50 day simple moving average of $464.46 and a 200 day simple moving average of $399.24. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $544.99. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. The firm has a market cap of $244.61 billion, a P/E ratio of 26.56, a P/E/G ratio of 2.98 and a beta of 1.46.

Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $16.14 billion. During the same period last year, the business posted $5.99 earnings per share. The firm’s quarterly revenue was down .7% on a year-over-year basis. Sell-side analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently announced 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 presently 30.72%.

Analysts Set New Price Targets

A number of research firms have recently commented on CAT. Melius Research upgraded Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price objective on the stock in a research note on Wednesday, July 9th. Truist Financial raised their target price on Caterpillar from $507.00 to $582.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Caterpillar in a report on Tuesday, October 14th. Barclays raised their price objective on shares of Caterpillar from $425.00 to $485.00 and gave the stock an “equal weight” rating in a research note on Friday, October 17th. Finally, DA Davidson upped their target price on shares of Caterpillar from $331.00 to $388.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $518.19.

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.