Summitry LLC Acquires 2,034 Shares of Caterpillar Inc. $CAT

Summitry LLC raised its holdings in Caterpillar Inc. (NYSE:CAT) by 10.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,160 shares of the industrial products company’s stock after buying an additional 2,034 shares during the period. Summitry LLC’s holdings in Caterpillar were worth $8,214,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CAT. Valeo Financial Advisors LLC lifted its holdings in Caterpillar by 36,842.1% during the 2nd quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock valued at $2,833,836,000 after purchasing an additional 7,279,991 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Caterpillar by 6.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,204,445 shares of the industrial products company’s stock worth $1,386,626,000 after buying an additional 264,054 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Caterpillar by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company’s stock valued at $1,089,798,000 after buying an additional 15,347 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Caterpillar by 9.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company’s stock valued at $1,064,951,000 after acquiring an additional 268,300 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of Caterpillar by 5.0% during the first quarter. Invesco Ltd. now owns 3,141,936 shares of the industrial products company’s stock worth $1,036,211,000 after acquiring an additional 150,533 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Insider Activity at Caterpillar

In other news, CAO William E. Schaupp sold 1,200 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $572.22, for a total value of $686,664.00. Following the completion of the transaction, the chief accounting officer directly owned 1,323 shares in the company, valued at approximately $757,047.06. This represents a 47.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anthony D. Fassino sold 8,184 shares of the firm’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $570.18, for a total value of $4,666,353.12. Following the sale, the insider directly owned 41,512 shares in the company, valued at approximately $23,669,312.16. This trade represents a 16.47% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 86,229 shares of company stock valued at $43,323,118. 0.33% of the stock is owned by company insiders.

Caterpillar Stock Performance

Caterpillar stock opened at $552.74 on Friday. The stock has a market cap of $258.67 billion, a PE ratio of 28.37, a P/E/G ratio of 3.33 and a beta of 1.51. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 1.34. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $596.21. The business’s 50-day moving average price is $506.27 and its two-hundred day moving average price is $427.79.

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

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s payout ratio is presently 31.01%.

Analyst Ratings Changes

Several research firms recently issued reports on CAT. Evercore ISI upgraded Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price target for the company in a research note on Tuesday, August 19th. Truist Financial restated a “buy” rating and issued a $729.00 price target (up from $582.00) on shares of Caterpillar in a research note on Thursday, October 30th. DA Davidson boosted their price objective on shares of Caterpillar from $408.00 to $569.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. UBS Group raised their target price on shares of Caterpillar from $506.00 to $581.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Caterpillar in a research report on Tuesday. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Caterpillar presently has a consensus rating of “Moderate Buy” and a consensus target price of $600.94.

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.