Caterpillar Inc. $CAT Shares Acquired by Cary Street Partners Financial LLC

Cary Street Partners Financial LLC increased its stake in shares of Caterpillar Inc. (NYSE:CAT) by 9.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,285 shares of the industrial products company’s stock after buying an additional 1,591 shares during the quarter. Cary Street Partners Financial LLC’s holdings in Caterpillar were worth $7,099,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Kilter Group LLC bought a new position in shares of Caterpillar during the second quarter worth about $27,000. Mid American Wealth Advisory Group Inc. acquired a new position in Caterpillar during the 2nd quarter valued at about $28,000. Compass Financial Services Inc boosted its stake in Caterpillar by 49.2% during the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 31 shares during the period. Family Legacy Financial Solutions LLC bought a new position in Caterpillar in the 2nd quarter worth about $32,000. Finally, RiverPark Advisors LLC acquired a new stake in shares of Caterpillar in the second quarter valued at approximately $32,000. 70.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CAT shares. JPMorgan Chase & Co. boosted their price objective on Caterpillar from $650.00 to $730.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. UBS Group lifted their target price on Caterpillar from $506.00 to $581.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. Royal Bank Of Canada started coverage on Caterpillar in a research note on Wednesday, October 22nd. They issued a “sector perform” rating and a $560.00 price target for the company. DA Davidson raised their price target on Caterpillar from $408.00 to $569.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. Finally, Argus upped their price objective on shares of Caterpillar from $460.00 to $625.00 and gave the stock a “buy” rating in a report on Wednesday, November 19th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $610.32.

Caterpillar Stock Up 0.7%

CAT opened at $603.27 on Monday. 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 company has a market capitalization of $282.32 billion, a PE ratio of 30.97, a P/E/G ratio of 2.84 and a beta of 1.57. The stock’s fifty day moving average is $542.45 and its 200-day moving average is $453.24. Caterpillar Inc. has a one year low of $267.30 and a one year high of $607.00.

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

Caterpillar Dividend Announcement

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

Insiders Place Their Bets

In other Caterpillar news, insider Jason Kaiser sold 10,707 shares of the company’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $563.60, for a total value of $6,034,465.20. Following the transaction, the insider owned 8,649 shares of the company’s stock, valued at approximately $4,874,576.40. This represents a 55.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Maclennan acquired 300 shares of the business’s stock in a transaction dated 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 transaction, the director directly owned 7,947 shares in the company, valued at approximately $4,520,730.42. The trade was a 3.92% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders sold 79,061 shares of company stock worth $41,949,366. Company insiders own 0.33% of the company’s stock.

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.