Caterpillar Inc. $CAT Shares Bought by Fire Capital Management LLC

Fire Capital Management LLC increased its stake in Caterpillar Inc. (NYSE:CAT) by 8.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,369 shares of the industrial products company’s stock after purchasing an additional 328 shares during the period. Caterpillar accounts for about 1.1% of Fire Capital Management LLC’s portfolio, making the stock its 27th largest position. Fire Capital Management LLC’s holdings in Caterpillar were worth $1,696,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of CAT. Pacific Point Advisors LLC purchased a new position in Caterpillar during the 4th quarter worth approximately $579,000. Brighton Jones LLC raised its position in Caterpillar by 51.5% during the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock worth $2,688,000 after buying an additional 2,519 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Caterpillar by 26.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 133,397 shares of the industrial products company’s stock worth $44,097,000 after buying an additional 27,623 shares during the last quarter. Golden State Wealth Management LLC raised its position in Caterpillar by 7.0% during the 1st quarter. Golden State Wealth Management LLC now owns 3,558 shares of the industrial products company’s stock worth $1,174,000 after buying an additional 232 shares during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC purchased a new position in Caterpillar during the 1st quarter worth approximately $1,047,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CAT has been the subject of a number of recent research reports. Royal Bank Of Canada initiated coverage on shares of Caterpillar in a research report on Wednesday, October 22nd. They set a “sector perform” rating and a $560.00 price target for the company. Bank of America raised their price target on shares of Caterpillar from $517.00 to $594.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Jefferies Financial Group lifted their target price on shares of Caterpillar from $500.00 to $570.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Barclays lifted their target price on shares of Caterpillar from $425.00 to $485.00 and gave the company an “equal weight” rating in a report on Friday, October 17th. Finally, Sanford C. Bernstein lifted their target price on shares of Caterpillar from $447.00 to $502.00 and gave the company a “market perform” rating in a report on Tuesday, October 14th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $518.19.

Caterpillar Price Performance

NYSE:CAT opened at $524.86 on Wednesday. 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 $245.89 billion, a price-to-earnings ratio of 26.70, a price-to-earnings-growth ratio of 3.00 and a beta of 1.46. The company has a 50 day moving average price of $468.92 and a 200-day moving average price of $403.15. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $544.99.

Caterpillar (NYSE:CAT) last issued its quarterly 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). The company had revenue of $16.57 billion during the quarter, compared to analysts’ expectations of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.Caterpillar’s revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.99 EPS. Equities research analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be issued a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s payout ratio is presently 30.72%.

Insider Buying and Selling

In related news, insider Jason Kaiser sold 2,161 shares of the business’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of the sale, the insider owned 8,632 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of the business’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the sale, the director directly owned 6,917 shares of the company’s stock, valued at approximately $2,835,970. The trade was a 25.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 55,985 shares of company stock valued at $25,559,300. 0.33% of the stock is owned by corporate insiders.

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.