Freestone Capital Holdings LLC Has $11.76 Million Stock Holdings in Caterpillar Inc. $CAT

Freestone Capital Holdings LLC increased its position in shares of Caterpillar Inc. (NYSE:CAT) by 2.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 30,284 shares of the industrial products company’s stock after buying an additional 654 shares during the quarter. Freestone Capital Holdings LLC’s holdings in Caterpillar were worth $11,757,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Pacific Point Advisors LLC acquired a new position in shares of Caterpillar during the fourth quarter valued at about $579,000. Brighton Jones LLC lifted its position in Caterpillar by 51.5% in the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock valued at $2,688,000 after acquiring an additional 2,519 shares in the last quarter. Strategic Blueprint LLC boosted its stake in Caterpillar by 6.0% during the 1st quarter. Strategic Blueprint LLC now owns 3,746 shares of the industrial products company’s stock valued at $1,236,000 after purchasing an additional 212 shares during the last quarter. Capital Investment Advisory Services LLC lifted its holdings in shares of Caterpillar by 7.2% in the first quarter. Capital Investment Advisory Services LLC now owns 5,384 shares of the industrial products company’s stock valued at $1,776,000 after purchasing an additional 360 shares in the last quarter. Finally, Truist Financial Corp boosted its position in shares of Caterpillar by 2.8% during the first quarter. Truist Financial Corp now owns 216,063 shares of the industrial products company’s stock valued at $71,258,000 after buying an additional 5,842 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

CAT has been the subject of a number of analyst reports. Melius Research raised Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price target for the company in a research report on Wednesday, July 9th. Robert W. Baird upped their target price on shares of Caterpillar from $612.00 to $680.00 and gave the stock an “outperform” rating in a research note on Thursday. Truist Financial reissued a “buy” rating and set a $729.00 price target (up from $582.00) on shares of Caterpillar in a research report on Thursday. Erste Group Bank upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Finally, Oppenheimer increased their price objective on shares of Caterpillar from $513.00 to $645.00 and gave the company an “outperform” rating in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $568.50.

Insiders Place Their Bets

In related news, Chairman Donald J. Umpleby III sold 17,168 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total value of $7,088,152.16. Following the completion of the transaction, the chairman directly owned 482,505 shares of the company’s stock, valued at approximately $199,211,839.35. This trade represents a 3.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction, the director owned 6,917 shares of the company’s stock, valued at $2,835,970. This represents a 25.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 55,985 shares of company stock worth $25,559,300 over the last quarter. 0.33% of the stock is currently owned by company insiders.

Caterpillar Trading Down 0.8%

Shares of CAT stock opened at $578.28 on Monday. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 1.34. The firm has a market cap of $270.91 billion, a P/E ratio of 29.69, a PEG ratio of 3.33 and a beta of 1.46. The company has a 50 day moving average of $478.42 and a 200-day moving average of $410.02. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $596.21.

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

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be issued a dividend of $1.51 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $6.04 annualized dividend and a yield of 1.0%. Caterpillar’s dividend payout ratio is 31.01%.

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.