Westerkirk Capital Inc. Purchases New Position in Caterpillar Inc. $CAT

Westerkirk Capital Inc. purchased a new stake in Caterpillar Inc. (NYSE:CAT) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,210 shares of the industrial products company’s stock, valued at approximately $2,799,000.

Other institutional investors have also modified their holdings of the company. Aire Advisors LLC lifted its position in Caterpillar by 0.3% in the second quarter. Aire Advisors LLC now owns 9,042 shares of the industrial products company’s stock valued at $3,510,000 after acquiring an additional 25 shares during the last quarter. Dumont & Blake Investment Advisors LLC increased its position in shares of Caterpillar by 0.5% during the second quarter. Dumont & Blake Investment Advisors LLC now owns 4,954 shares of the industrial products company’s stock worth $1,923,000 after purchasing an additional 25 shares in the last quarter. Redwood Wealth Management Group LLC lifted its holdings in shares of Caterpillar by 0.9% in the 2nd quarter. Redwood Wealth Management Group LLC now owns 2,669 shares of the industrial products company’s stock valued at $1,036,000 after purchasing an additional 25 shares during the last quarter. Tsfg LLC boosted its position in shares of Caterpillar by 9.8% in the 2nd quarter. Tsfg LLC now owns 279 shares of the industrial products company’s stock valued at $108,000 after purchasing an additional 25 shares during the period. Finally, GSB Wealth Management LLC grew its stake in Caterpillar by 1.2% during the 2nd quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company’s stock worth $832,000 after buying an additional 26 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Down 1.4%

Shares of NYSE CAT opened at $567.44 on Tuesday. The stock has a market capitalization of $265.55 billion, a price-to-earnings ratio of 29.13, a price-to-earnings-growth ratio of 3.33 and a beta of 1.51. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $596.21. The firm has a 50-day moving average price of $532.35 and a 200 day moving average price of $446.34. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 1.34.

Caterpillar (NYSE:CAT) last issued its earnings results on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.52 by $0.43. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The company had revenue of $17.64 billion during the quarter, compared to analysts’ expectations of $16.72 billion. During the same period last year, the company posted $5.17 earnings per share. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. Equities 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. Investors of record on Monday, October 20th were issued a dividend of $1.51 per share. 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 payout ratio is currently 31.01%.

Insider Activity at Caterpillar

In other news, Director David Maclennan bought 300 shares of the stock in a transaction on Thursday, November 6th. The shares were bought at an average price of $568.86 per share, with a total value of $170,658.00. Following the completion of the acquisition, the director 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Anthony D. Fassino sold 8,184 shares of the firm’s stock in a transaction 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 transaction, the insider owned 41,512 shares of the company’s stock, valued at approximately $23,669,312.16. This represents a 16.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 69,061 shares of company stock valued at $36,234,966 in the last 90 days. 0.33% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CAT has been the subject of several research analyst reports. Royal Bank Of Canada initiated coverage on Caterpillar in a report on Wednesday, October 22nd. They issued a “sector perform” rating and a $560.00 price objective for the company. Truist Financial reaffirmed a “buy” rating and set a $729.00 price objective (up from $582.00) on shares of Caterpillar in a research note on Thursday, October 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Caterpillar in a research note on Monday, November 24th. Hsbc Global Res raised Caterpillar from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Finally, Erste Group Bank upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Three research 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 stock. According to MarketBeat, Caterpillar has a consensus rating of “Moderate Buy” and an average target price of $610.32.

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.