579 Shares in Caterpillar Inc. $CAT Acquired by Oak Associates Ltd. OH

Oak Associates Ltd. OH acquired a new stake in Caterpillar Inc. (NYSE:CAT) during the second quarter, HoldingsChannel.com reports. The fund acquired 579 shares of the industrial products company’s stock, valued at approximately $225,000.

Several other institutional investors have also modified their holdings of CAT. Valeo Financial Advisors LLC raised its stake in Caterpillar by 36,842.1% in the second 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 buying an additional 7,279,991 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Caterpillar during the 1st quarter worth about $391,788,000. Assenagon Asset Management S.A. lifted its stake in Caterpillar by 546.6% during the second quarter. Assenagon Asset Management S.A. now owns 843,093 shares of the industrial products company’s stock worth $327,297,000 after purchasing an additional 712,711 shares during the last quarter. Laurel Wealth Advisors LLC boosted its holdings in Caterpillar by 36,586.2% in the second quarter. Laurel Wealth Advisors LLC now owns 433,631 shares of the industrial products company’s stock valued at $168,340,000 after purchasing an additional 432,449 shares in the last quarter. Finally, Soundwatch Capital LLC purchased a new position in Caterpillar in the second quarter valued at approximately $1,666,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CAT has been the subject of several recent analyst reports. Sanford C. Bernstein restated a “market perform” rating on shares of Caterpillar in a research report on Wednesday, November 5th. Evercore ISI lifted their price target on shares of Caterpillar from $476.00 to $630.00 and gave the stock an “outperform” rating in a research note on Monday, November 17th. Weiss Ratings restated a “buy (b)” rating on shares of Caterpillar in a research note on Monday, November 17th. JPMorgan Chase & Co. lifted their target price on Caterpillar from $650.00 to $730.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Finally, Oppenheimer boosted their target price on Caterpillar from $513.00 to $645.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Caterpillar has an average rating of “Moderate Buy” and an average price target of $610.32.

Insider Activity at Caterpillar

In other news, insider Lange Bob De sold 14,638 shares of the firm’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $562.36, for a total value of $8,231,825.68. Following the completion of the sale, the insider owned 80,209 shares in the company, valued at approximately $45,106,333.24. This trade represents a 15.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the business’s stock in a transaction dated 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 transaction, the chairman owned 482,505 shares in the company, valued at approximately $199,211,839.35. This trade represents a 3.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 86,229 shares of company stock worth $43,323,118 in the last 90 days. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Trading Up 1.7%

NYSE CAT opened at $560.05 on Tuesday. The firm’s fifty day moving average is $521.18 and its two-hundred day moving average is $438.34. Caterpillar Inc. has a one year low of $267.30 and a one year high of $596.21. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.81 and a current ratio of 1.38. The firm has a market cap of $262.09 billion, a PE ratio of 28.75, a P/E/G ratio of 3.33 and a beta of 1.51.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.52 by $0.43. The firm had revenue of $17.64 billion for 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%.The business’s revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the company posted $5.17 earnings per share. Analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current 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 paid a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Monday, October 20th. Caterpillar’s payout ratio is currently 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.