Westwood Holdings Group Inc. Has $2.64 Million Stock Position in Caterpillar Inc. $CAT

Westwood Holdings Group Inc. increased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 16.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,807 shares of the industrial products company’s stock after buying an additional 960 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Caterpillar were worth $2,643,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Paragon Capital Management LLC acquired a new position in Caterpillar during the second quarter worth about $1,009,000. Fusion Capital LLC grew its holdings in shares of Caterpillar by 2.9% during the 2nd quarter. Fusion Capital LLC now owns 23,998 shares of the industrial products company’s stock valued at $9,316,000 after purchasing an additional 666 shares during the last quarter. Creative Planning increased its position in Caterpillar by 5.1% during the 2nd quarter. Creative Planning now owns 275,950 shares of the industrial products company’s stock worth $107,126,000 after purchasing an additional 13,485 shares in the last quarter. Pinnbrook Capital Management LP bought a new position in Caterpillar in the 2nd quarter valued at approximately $2,696,000. Finally, Meridian Wealth Management LLC boosted its position in Caterpillar by 6.2% in the second quarter. Meridian Wealth Management LLC now owns 41,388 shares of the industrial products company’s stock valued at $16,067,000 after buying an additional 2,416 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Up 0.8%

Shares of NYSE:CAT opened at $558.27 on Monday. The business’s 50-day moving average is $506.27 and its 200-day moving average is $428.62. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $596.21. The company has a market capitalization of $261.26 billion, a price-to-earnings ratio of 28.65, a P/E/G ratio of 3.33 and a beta of 1.51. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.38 and a quick ratio of 0.81.

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

Caterpillar Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Truist Financial reiterated a “buy” rating and set a $729.00 price target (up from $582.00) on shares of Caterpillar in a report on Thursday, October 30th. Oppenheimer increased their target price on Caterpillar from $513.00 to $645.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Evercore ISI raised Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price target on the stock in a research note on Tuesday, August 19th. Robert W. Baird upped their price objective on Caterpillar from $612.00 to $680.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Finally, Bank of America lifted their target price on shares of Caterpillar from $594.00 to $650.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Caterpillar has a consensus rating of “Moderate Buy” and a consensus target price of $600.94.

Insiders Place Their Bets

In other news, Director David Maclennan bought 300 shares of the stock in a transaction dated Thursday, November 6th. The stock was bought at an average price of $568.86 per share, for a total transaction of $170,658.00. Following the completion of the acquisition, the director directly owned 7,947 shares in the company, valued at approximately $4,520,730.42. This trade represents a 3.92% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO William E. Schaupp sold 1,200 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $572.22, for a total transaction of $686,664.00. Following the transaction, the chief accounting officer owned 1,323 shares in the company, valued at approximately $757,047.06. This trade represents a 47.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 86,229 shares of company stock worth $43,323,118 in the last three months. 0.33% of the stock is owned by corporate insiders.

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.