Savvy Advisors Inc. Buys 838 Shares of Caterpillar Inc. $CAT

Savvy Advisors Inc. lifted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 19.6% in the second quarter, HoldingsChannel reports. The fund owned 5,105 shares of the industrial products company’s stock after acquiring an additional 838 shares during the period. Savvy Advisors Inc.’s holdings in Caterpillar were worth $1,982,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CAT. Pacific Point Advisors LLC bought a new position in shares of Caterpillar during the 4th quarter valued at approximately $579,000. Brighton Jones LLC boosted its stake in Caterpillar by 51.5% in the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock worth $2,688,000 after purchasing an additional 2,519 shares during the period. Golden State Wealth Management LLC boosted its stake in Caterpillar by 7.0% in 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 purchasing an additional 232 shares during the period. JNBA Financial Advisors boosted its stake in Caterpillar by 41.8% in the 1st quarter. JNBA Financial Advisors now owns 339 shares of the industrial products company’s stock worth $112,000 after purchasing an additional 100 shares during the period. Finally, Clear Creek Financial Management LLC boosted its stake in Caterpillar by 11.4% in the 1st quarter. Clear Creek Financial Management LLC now owns 1,269 shares of the industrial products company’s stock worth $419,000 after purchasing an additional 130 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Chairman Donald J. Umpleby III sold 17,166 shares of Caterpillar stock in a transaction on Friday, October 10th. The stock was sold at an average price of $505.29, for a total transaction of $8,673,808.14. Following the completion of the sale, the chairman directly owned 448,173 shares in the company, valued at approximately $226,457,335.17. This trade represents a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction 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 sale, the insider owned 8,632 shares of the company’s stock, valued at approximately $3,605,586.40. This trade represents a 20.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 55,985 shares of company stock worth $25,559,300 over the last three months. 0.33% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CAT shares. Bank of America upped their price target on Caterpillar from $517.00 to $594.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Barclays upped their price target on Caterpillar from $425.00 to $485.00 and gave the stock an “equal weight” rating in a research note on Friday, October 17th. 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, October 8th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Caterpillar in a report on Tuesday, October 14th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Caterpillar presently has a consensus rating of “Moderate Buy” and a consensus price target of $518.19.

Caterpillar Stock Up 11.9%

Shares of CAT opened at $586.77 on Thursday. The company has a market cap of $274.89 billion, a PE ratio of 29.85, a P/E/G ratio of 2.99 and a beta of 1.46. The business has a fifty day moving average of $472.25 and a 200 day moving average of $405.20. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $596.21. 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 (NYSE:CAT) last issued its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.52 by $0.43. The company had revenue of $17.64 billion during the quarter, compared to the consensus estimate of $16.72 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.Caterpillar’s revenue was up 9.5% on a year-over-year basis. During the same period last year, the company earned $5.17 earnings per share. On average, sell-side analysts expect 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 given a $1.51 dividend. The ex-dividend date is Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a yield of 1.0%. Caterpillar’s dividend payout ratio (DPR) is currently 30.72%.

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.