Simon Quick Advisors LLC Buys 523 Shares of Caterpillar Inc. $CAT

Simon Quick Advisors LLC lifted its stake in Caterpillar Inc. (NYSE:CAT) by 23.4% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,755 shares of the industrial products company’s stock after acquiring an additional 523 shares during the period. Simon Quick Advisors LLC’s holdings in Caterpillar were worth $1,069,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Strs Ohio raised its position in Caterpillar by 3.8% in the second quarter. Strs Ohio now owns 137,995 shares of the industrial products company’s stock worth $53,571,000 after purchasing an additional 4,989 shares in the last quarter. Impact Partnership Wealth LLC acquired a new position in Caterpillar in the second quarter worth about $200,000. Heritage Investors Management Corp raised its position in Caterpillar by 1.1% in the second quarter. Heritage Investors Management Corp now owns 130,410 shares of the industrial products company’s stock worth $50,626,000 after purchasing an additional 1,441 shares in the last quarter. Savvy Advisors Inc. raised its position in Caterpillar by 19.6% in the second quarter. Savvy Advisors Inc. now owns 5,105 shares of the industrial products company’s stock worth $1,982,000 after purchasing an additional 838 shares in the last quarter. Finally, Keybank National Association OH raised its position in Caterpillar by 42.2% in the second quarter. Keybank National Association OH now owns 191,239 shares of the industrial products company’s stock worth $74,241,000 after purchasing an additional 56,757 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Activity

In other news, Chairman Donald J. Umpleby III sold 17,166 shares of the stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $505.29, for a total transaction of $8,673,808.14. Following the sale, the chairman directly owned 448,173 shares of the company’s stock, valued at $226,457,335.17. This 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 is available through this link. Also, Director Susan C. Schwab sold 2,324 shares of the 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 sale, the director directly owned 6,917 shares in the company, valued at $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 55,985 shares of company stock valued at $25,559,300 over the last three months. 0.33% of the stock is owned by insiders.

Analyst Ratings Changes

CAT has been the subject of several recent research reports. Erste Group Bank raised shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Sanford C. Bernstein increased their price target on shares of Caterpillar from $502.00 to $557.00 and gave the stock a “market perform” rating in a research report on Thursday. Truist Financial reaffirmed a “buy” rating and set a $729.00 price objective (up from $582.00) on shares of Caterpillar in a research note on Thursday. JPMorgan Chase & Co. upped their price objective on shares of Caterpillar from $650.00 to $730.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Royal Bank Of Canada assumed coverage on shares of Caterpillar in a research note on Wednesday, October 22nd. They set a “sector perform” rating and a $560.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $562.25.

Caterpillar Price Performance

CAT opened at $582.30 on Friday. Caterpillar Inc. has a one year low of $267.30 and a one year high of $596.21. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.38 and a quick ratio of 0.81. The company’s 50 day simple moving average is $475.55 and its 200-day simple moving average is $406.43. The stock has a market capitalization of $272.80 billion, a P/E ratio of 29.89, a price-to-earnings-growth ratio of 3.33 and a beta of 1.46.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $4.95 EPS for the quarter, beating the consensus estimate of $4.52 by $0.43. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The business had revenue of $17.64 billion for the quarter, compared to analysts’ expectations of $16.72 billion. During the same period in the prior year, the firm earned $5.17 earnings per share. Caterpillar’s revenue was up 9.5% compared to the same quarter last year. Sell-side analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s dividend payout ratio is 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.