Brookwood Investment Group LLC Purchases 426 Shares of Caterpillar Inc. $CAT

Brookwood Investment Group LLC increased its position in shares of Caterpillar Inc. (NYSE:CAT) by 16.3% in the second quarter, Holdings Channel reports. The institutional investor owned 3,034 shares of the industrial products company’s stock after buying an additional 426 shares during the period. Brookwood Investment Group LLC’s holdings in Caterpillar were worth $1,178,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Mid American Wealth Advisory Group Inc. bought a new stake in shares of Caterpillar during the 2nd quarter worth approximately $28,000. Compass Financial Services Inc raised its stake 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 purchasing an additional 31 shares in the last quarter. Family Legacy Financial Solutions LLC bought a new stake in shares of Caterpillar during the 2nd quarter worth approximately $32,000. Redmont Wealth Advisors LLC bought a new stake in shares of Caterpillar during the 1st quarter worth approximately $33,000. Finally, Harbor Asset Planning Inc. bought a new stake in shares of Caterpillar during the 2nd quarter worth approximately $34,000. 70.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CAT shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Caterpillar in a research note on Tuesday, October 14th. Bank of America increased their price target on Caterpillar from $517.00 to $594.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Oppenheimer increased their price target on Caterpillar from $480.00 to $513.00 and gave the company an “outperform” rating in a research note on Monday, September 29th. Truist Financial increased their price target on Caterpillar from $507.00 to $582.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Finally, Erste Group Bank upgraded Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $518.19.

Caterpillar Stock Performance

CAT opened at $522.13 on Monday. The business has a fifty day simple moving average of $464.46 and a 200 day simple moving average of $399.92. The company 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. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $544.99. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81.

Caterpillar (NYSE:CAT) last released 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 firm 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 business’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter last year, the firm earned $5.99 earnings per share. Research analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Announces Dividend

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

Insider Activity at Caterpillar

In other Caterpillar news, Chairman Donald J. Umpleby III sold 17,166 shares of Caterpillar stock in a transaction on Friday, October 10th. The stock was sold at an average price of $505.29, for a total value of $8,673,808.14. Following the completion of the transaction, the chairman directly owned 448,173 shares of the company’s stock, valued at $226,457,335.17. The trade was a 3.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction on Monday, August 11th. The shares were sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of the transaction, the insider directly owned 8,632 shares of the company’s stock, valued at $3,605,586.40. This represents a 20.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,985 shares of company stock worth $25,559,300 in the last ninety days. 0.33% of the stock is owned by company 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.