Resonant Capital Advisors LLC Has $961,000 Stock Holdings in Caterpillar Inc. $CAT

Resonant Capital Advisors LLC raised its holdings in Caterpillar Inc. (NYSE:CAT) by 37.1% in the second quarter, Holdings Channel.com reports. The fund owned 2,475 shares of the industrial products company’s stock after acquiring an additional 670 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Caterpillar were worth $961,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Mid American Wealth Advisory Group Inc. bought a new stake in shares of Caterpillar during the 2nd quarter worth $28,000. Compass Financial Services Inc boosted its holdings in shares of Caterpillar by 49.2% during the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after buying an additional 31 shares during the period. Family Legacy Financial Solutions LLC bought a new stake in shares of Caterpillar during the 2nd quarter worth $32,000. Redmont Wealth Advisors LLC bought a new stake in shares of Caterpillar during the 1st quarter worth $33,000. Finally, Harbor Asset Planning Inc. bought a new stake in shares of Caterpillar during the 2nd quarter worth $34,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Chairman Donald J. Umpleby III sold 17,166 shares of the business’s stock in a transaction on Friday, October 10th. The shares were sold at an average price of $505.29, for a total value of $8,673,808.14. Following the sale, the chairman owned 448,173 shares in the company, valued at approximately $226,457,335.17. The trade was a 3.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Susan C. Schwab sold 2,324 shares of the business’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the sale, the director owned 6,917 shares in the company, valued at $2,835,970. This represents a 25.15% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,985 shares of company stock worth $25,559,300. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Trading Up 0.3%

Shares of Caterpillar stock opened at $522.13 on Monday. The firm has a market capitalization of $244.60 billion, a PE ratio of 26.56, a price-to-earnings-growth ratio of 2.98 and a beta of 1.46. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. The company’s fifty day moving average price is $464.46 and its two-hundred day moving average price is $399.92. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $544.99.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.88 by ($0.16). The business had revenue of $16.57 billion during the quarter, compared to the consensus estimate of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the firm earned $5.99 EPS. On average, analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be issued a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s payout ratio is 30.72%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Sanford C. Bernstein upped their price objective on shares of Caterpillar from $447.00 to $502.00 and gave the stock a “market perform” rating in a report on Tuesday, October 14th. Bank of America upped their target price on shares of Caterpillar from $517.00 to $594.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Royal Bank Of Canada started coverage on shares of Caterpillar in a report on Wednesday, October 22nd. They issued a “sector perform” rating and a $560.00 price target for the company. Truist Financial increased their price target on shares of Caterpillar from $507.00 to $582.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Finally, DA Davidson increased their price target on shares of Caterpillar from $331.00 to $388.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $518.19.

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.