Elo Mutual Pension Insurance Co Increases Position in Caterpillar Inc. $CAT

Elo Mutual Pension Insurance Co raised its position in shares of Caterpillar Inc. (NYSE:CAT) by 0.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,348 shares of the industrial products company’s stock after buying an additional 235 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Caterpillar were worth $15,275,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Laurel Wealth Advisors LLC grew its position in Caterpillar by 36,586.2% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 433,631 shares of the industrial products company’s stock valued at $168,340,000 after acquiring an additional 432,449 shares in the last quarter. RiverFront Investment Group LLC boosted its stake in shares of Caterpillar by 12.2% in the second quarter. RiverFront Investment Group LLC now owns 4,850 shares of the industrial products company’s stock valued at $1,883,000 after purchasing an additional 526 shares during the period. Edmond DE Rothschild Holding S.A. increased its stake in Caterpillar by 18.9% during the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 112,526 shares of the industrial products company’s stock worth $43,684,000 after buying an additional 17,878 shares during the period. QVR LLC acquired a new stake in Caterpillar during the 2nd quarter worth approximately $285,000. Finally, South Plains Financial Inc. boosted its position in Caterpillar by 19.5% in the 2nd quarter. South Plains Financial Inc. now owns 1,981 shares of the industrial products company’s stock valued at $769,000 after buying an additional 323 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Trading Up 1.7%

NYSE CAT opened at $560.05 on Tuesday. 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 firm’s fifty day moving average price is $521.18 and its 200 day moving average price is $438.34. The company has a market capitalization of $262.09 billion, a price-to-earnings ratio of 28.75, a price-to-earnings-growth ratio of 3.33 and a beta of 1.51. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $596.21.

Caterpillar (NYSE:CAT) last announced 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 firm had revenue of $17.64 billion during the quarter, compared to analysts’ expectations of $16.72 billion. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. Caterpillar’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the company earned $5.17 earnings per share. On average, sell-side analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. HSBC upgraded Caterpillar from a “hold” rating to a “buy” rating and increased their price objective for the company from $405.00 to $660.00 in a research note on Wednesday, November 5th. Hsbc Global Res raised Caterpillar from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. UBS Group boosted their price objective on Caterpillar from $506.00 to $581.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. Royal Bank Of Canada began coverage on shares of Caterpillar in a research note on Wednesday, October 22nd. They issued a “sector perform” rating and a $560.00 price target for the company. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Caterpillar in a research report on Monday, November 17th. Three 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $610.32.

Insider Activity at Caterpillar

In other Caterpillar news, Chairman Donald J. Umpleby III sold 17,168 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total value of $7,088,152.16. Following the completion of the sale, the chairman owned 482,505 shares in the company, valued at approximately $199,211,839.35. The trade was a 3.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anthony D. Fassino sold 8,184 shares of the stock in a transaction that occurred 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 completion of the sale, the insider directly owned 41,512 shares of the company’s stock, valued at $23,669,312.16. The trade was a 16.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 86,229 shares of company stock valued at $43,323,118 over the last 90 days. 0.33% of the stock is owned by insiders.

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.