Caterpillar Inc. $CAT Stock Position Lessened by MainStreet Investment Advisors LLC

MainStreet Investment Advisors LLC reduced its stake in shares of Caterpillar Inc. (NYSE:CAT) by 2.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,621 shares of the industrial products company’s stock after selling 589 shares during the quarter. Caterpillar comprises about 1.4% of MainStreet Investment Advisors LLC’s investment portfolio, making the stock its 22nd largest holding. MainStreet Investment Advisors LLC’s holdings in Caterpillar were worth $10,335,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Mid American Wealth Advisory Group Inc. bought a new stake in shares of Caterpillar during the 2nd quarter worth about $28,000. Compass Financial Services Inc boosted its holdings in shares of Caterpillar by 49.2% in the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 31 shares in the last quarter. Family Legacy Financial Solutions LLC acquired a new position in shares of Caterpillar during the second quarter valued at approximately $32,000. Harbor Asset Planning Inc. bought a new stake in Caterpillar during the second quarter worth approximately $34,000. Finally, Total Wealth Planning & Management Inc. acquired a new stake in Caterpillar in the second quarter worth approximately $38,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Activity

In other Caterpillar news, insider Jason Kaiser sold 10,707 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $563.60, for a total value of $6,034,465.20. Following the transaction, the insider owned 8,649 shares in the company, valued at approximately $4,874,576.40. This represents a 55.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the completion of the sale, the chairman owned 482,505 shares of the company’s stock, valued at approximately $199,211,839.35. The trade was a 3.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 86,229 shares of company stock valued at $43,323,118 in the last three months. 0.33% of the stock is currently owned by insiders.

Caterpillar Stock Performance

Caterpillar stock opened at $550.87 on Tuesday. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $596.21. The firm’s 50 day simple moving average is $508.83 and its 200-day simple moving average is $430.29. 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 has a market cap of $257.80 billion, a P/E ratio of 28.28, a price-to-earnings-growth ratio of 3.33 and a beta of 1.51.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share for the quarter, topping 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 firm had revenue of $17.64 billion for the quarter, compared to analysts’ expectations of $16.72 billion. During the same period in the previous year, the company posted $5.17 EPS. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. As a group, equities research analysts predict 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. Stockholders of record on Monday, October 20th will be given 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 of this dividend is Monday, October 20th. Caterpillar’s dividend payout ratio is 31.01%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CAT shares. Truist Financial reissued a “buy” rating and issued a $729.00 price objective (up previously from $582.00) on shares of Caterpillar in a research note on Thursday, October 30th. Citigroup boosted their price target on shares of Caterpillar from $570.00 to $670.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Royal Bank Of Canada started coverage on shares of Caterpillar in a research report on Wednesday, October 22nd. They set a “sector perform” rating and a $560.00 price objective for the company. Oppenheimer boosted their target price on shares of Caterpillar from $513.00 to $645.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Finally, JPMorgan Chase & Co. raised their target price on shares of Caterpillar from $650.00 to $730.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $600.94.

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.