Nemes Rush Group LLC Grows Holdings in Caterpillar Inc. $CAT

Nemes Rush Group LLC lifted its position in shares of Caterpillar Inc. (NYSE:CAT) by 4.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,923 shares of the industrial products company’s stock after buying an additional 304 shares during the quarter. Nemes Rush Group LLC’s holdings in Caterpillar were worth $2,688,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Mid American Wealth Advisory Group Inc. acquired a new position in Caterpillar in the 2nd quarter valued at $28,000. Family Legacy Financial Solutions LLC purchased a new stake in shares of Caterpillar in the second quarter valued at $32,000. Harbor Asset Planning Inc. acquired a new position in Caterpillar in the second quarter valued at $34,000. Compass Financial Services Inc lifted its position in Caterpillar by 49.2% during the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after buying an additional 31 shares during the period. Finally, Maseco LLP acquired a new stake in Caterpillar in the 2nd quarter worth about $45,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Activity at Caterpillar

In other news, insider Lange Bob De sold 14,638 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $562.36, for a total transaction of $8,231,825.68. Following the transaction, the insider directly owned 80,209 shares of the company’s stock, valued at approximately $45,106,333.24. The trade was a 15.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David Maclennan bought 300 shares of the firm’s stock in a transaction dated Thursday, November 6th. The stock was purchased at an average price of $568.86 per share, with a total value of $170,658.00. Following the completion of the purchase, the director directly owned 7,947 shares of the company’s stock, valued at approximately $4,520,730.42. This trade represents a 3.92% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have sold 86,229 shares of company stock valued at $43,323,118. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CAT. Sanford C. Bernstein reiterated a “market perform” rating on shares of Caterpillar in a report on Wednesday, November 5th. Jefferies Financial Group lifted their price target on shares of Caterpillar from $570.00 to $700.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Citigroup upped their price objective on Caterpillar from $570.00 to $670.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Erste Group Bank upgraded Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Finally, Bank of America upped their price target on Caterpillar from $594.00 to $650.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Caterpillar presently has a consensus rating of “Moderate Buy” and an average target price of $610.32.

Caterpillar Stock Up 0.8%

Shares of NYSE CAT opened at $550.74 on Friday. The stock has a fifty day moving average price of $518.69 and a 200 day moving average price of $435.87. The company has a current ratio of 1.38, a quick ratio of 0.81 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 company has a market cap of $257.74 billion, a P/E ratio of 28.27, a P/E/G ratio of 3.33 and a beta of 1.51.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $4.95 EPS for the quarter, topping analysts’ consensus estimates of $4.52 by $0.43. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The company had revenue of $17.64 billion for the quarter, compared to analysts’ expectations of $16.72 billion. During the same quarter in the previous year, the firm posted $5.17 earnings per share. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. Research analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Monday, October 20th were given a $1.51 dividend. The ex-dividend date of this dividend was Monday, October 20th. This represents a $6.04 annualized dividend and a yield of 1.1%. Caterpillar’s dividend payout ratio (DPR) is 31.01%.

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.