Invesco Ltd. Acquires 140,784 Shares of Caterpillar Inc. $CAT

Invesco Ltd. raised its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 4.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,282,720 shares of the industrial products company’s stock after purchasing an additional 140,784 shares during the quarter. Invesco Ltd. owned 0.70% of Caterpillar worth $1,274,385,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Fisher Asset Management LLC boosted its position in Caterpillar by 2.3% in the 2nd quarter. Fisher Asset Management LLC now owns 9,418,321 shares of the industrial products company’s stock valued at $3,656,286,000 after buying an additional 208,196 shares during the period. Valeo Financial Advisors LLC raised its stake in shares of Caterpillar by 36,842.1% during 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 acquiring an additional 7,279,991 shares in the last quarter. Norges Bank purchased a new stake in shares of Caterpillar in the second quarter valued at approximately $2,165,899,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Caterpillar by 6.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,204,445 shares of the industrial products company’s stock worth $1,386,626,000 after purchasing an additional 264,054 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Caterpillar by 1.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,337,915 shares of the industrial products company’s stock worth $1,295,432,000 after purchasing an additional 33,467 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Trading Up 2.6%

Caterpillar stock opened at $582.68 on Wednesday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.86 and a current ratio of 1.38. The stock has a market cap of $272.68 billion, a PE ratio of 29.91, a price-to-earnings-growth ratio of 2.68 and a beta of 1.57. The stock has a 50-day moving average of $534.56 and a two-hundred day moving average of $447.95. Caterpillar Inc. has a one year low of $267.30 and a one year high of $596.21.

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

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, October 20th were paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Monday, October 20th. Caterpillar’s payout ratio is presently 31.01%.

Insider Activity

In other Caterpillar news, insider Lange Bob De sold 14,638 shares of Caterpillar stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $562.36, for a total transaction of $8,231,825.68. Following the completion of the sale, the insider 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jason Kaiser sold 10,707 shares of the stock in a transaction dated 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 completion of the transaction, the insider directly owned 8,649 shares in the company, valued at $4,874,576.40. This represents a 55.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 79,061 shares of company stock valued at $41,949,366. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CAT. Royal Bank Of Canada began coverage on Caterpillar in a research report on Wednesday, October 22nd. They set a “sector perform” rating and a $560.00 price target on the stock. Citigroup increased their target price on shares of Caterpillar from $570.00 to $670.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Truist Financial reissued a “buy” rating and set a $729.00 target price (up previously from $582.00) on shares of Caterpillar in a research report on Thursday, October 30th. JPMorgan Chase & Co. upped their price target on shares of Caterpillar from $650.00 to $730.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Finally, UBS Group lifted their price objective on shares of Caterpillar from $506.00 to $581.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Caterpillar currently has an average rating of “Moderate Buy” and an average price target of $610.32.

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.