Mirabella Financial Services LLP Purchases New Shares in Caterpillar Inc. $CAT

Mirabella Financial Services LLP acquired a new stake in shares of Caterpillar Inc. (NYSE:CAT) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 19,475 shares of the industrial products company’s stock, valued at approximately $7,560,000. Caterpillar accounts for 0.8% of Mirabella Financial Services LLP’s portfolio, making the stock its 28th biggest holding.

Other institutional investors have also added to or reduced their stakes in the company. Valeo Financial Advisors LLC boosted 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 acquiring an additional 7,279,991 shares in the last quarter. Norges Bank acquired a new stake in Caterpillar during the second quarter worth about $2,165,899,000. Nuveen LLC acquired a new position in shares of Caterpillar in the first quarter worth about $391,788,000. Assenagon Asset Management S.A. increased its position in shares of Caterpillar by 546.6% in the second quarter. Assenagon Asset Management S.A. now owns 843,093 shares of the industrial products company’s stock valued at $327,297,000 after buying an additional 712,711 shares in the last quarter. Finally, Laurel Wealth Advisors LLC raised its position in shares of Caterpillar by 36,586.2% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 433,631 shares of the industrial products company’s stock worth $168,340,000 after purchasing an additional 432,449 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

Shares of CAT stock opened at $598.89 on Friday. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $602.72. The company’s fifty day moving average price is $539.70 and its two-hundred day moving average price is $450.00. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.38 and a quick ratio of 0.86. The firm has a market capitalization of $280.27 billion, a P/E ratio of 30.74, a P/E/G ratio of 2.79 and a beta of 1.57.

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

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Shareholders 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 1.0%. The ex-dividend date of this dividend was Monday, October 20th. Caterpillar’s dividend payout ratio (DPR) is presently 31.01%.

Analysts Set New Price Targets

CAT has been the subject of several analyst reports. Hsbc Global Res raised shares of Caterpillar from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Argus upped their price objective on Caterpillar from $460.00 to $625.00 and gave the stock a “buy” rating in a research report on Wednesday, November 19th. Morgan Stanley raised their price objective on shares of Caterpillar from $350.00 to $380.00 and gave the company an “underweight” rating in a report on Thursday, October 30th. UBS Group increased their price target on shares of Caterpillar from $506.00 to $581.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of Caterpillar in a research report on Wednesday, November 5th. 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Caterpillar has an average rating of “Moderate Buy” and an average price target of $610.32.

Insider Activity

In other Caterpillar news, insider Anthony D. Fassino sold 8,184 shares of the business’s stock in a transaction dated 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 sale, the insider directly owned 41,512 shares in the company, valued at approximately $23,669,312.16. The trade was a 16.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jason Kaiser sold 10,707 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $563.60, for a total transaction of $6,034,465.20. Following the sale, the insider owned 8,649 shares of the company’s stock, valued at $4,874,576.40. The trade was a 55.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 79,061 shares of company stock valued at $41,949,366 over the last quarter. Insiders own 0.33% of the company’s stock.

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.