Permanent Capital Management LP Takes $2.56 Million Position in Caterpillar Inc. $CAT

Permanent Capital Management LP acquired a new position in shares of Caterpillar Inc. (NYSE:CAT) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,369 shares of the industrial products company’s stock, valued at approximately $2,562,000. Caterpillar accounts for about 0.5% of Permanent Capital Management LP’s holdings, making the stock its 24th largest holding.

Several other institutional investors have also recently bought and sold shares of CAT. Syntegra Private Wealth Group LLC boosted its holdings in Caterpillar by 2.4% during the third quarter. Syntegra Private Wealth Group LLC now owns 1,037 shares of the industrial products company’s stock valued at $495,000 after acquiring an additional 24 shares during the period. Aire Advisors LLC lifted its position in shares of Caterpillar by 0.3% during the 2nd quarter. Aire Advisors LLC now owns 9,042 shares of the industrial products company’s stock worth $3,510,000 after purchasing an additional 25 shares during the last quarter. Dumont & Blake Investment Advisors LLC boosted its stake in Caterpillar by 0.5% during the 2nd quarter. Dumont & Blake Investment Advisors LLC now owns 4,954 shares of the industrial products company’s stock valued at $1,923,000 after purchasing an additional 25 shares during the period. Redwood Wealth Management Group LLC grew its holdings in Caterpillar by 0.9% in the 2nd quarter. Redwood Wealth Management Group LLC now owns 2,669 shares of the industrial products company’s stock valued at $1,036,000 after buying an additional 25 shares during the last quarter. Finally, Tsfg LLC increased its position in Caterpillar by 9.8% in the 2nd quarter. Tsfg LLC now owns 279 shares of the industrial products company’s stock worth $108,000 after buying an additional 25 shares during the period. Institutional investors own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

CAT has been the subject of several research reports. UBS Group increased their price objective on Caterpillar from $506.00 to $581.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. Weiss Ratings restated a “buy (b)” rating on shares of Caterpillar in a research report on Monday, December 22nd. Truist Financial reaffirmed a “buy” rating and set a $729.00 price objective (up previously from $582.00) on shares of Caterpillar in a research report on Thursday, October 30th. Morgan Stanley increased their target price on shares of Caterpillar from $380.00 to $395.00 and gave the company an “underweight” rating in a research note on Wednesday, December 10th. Finally, Barclays boosted their price target on Caterpillar from $485.00 to $555.00 and gave the company an “equal weight” rating in a research note on Thursday, October 30th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $616.00.

Caterpillar Price Performance

Shares of CAT stock opened at $583.09 on Monday. The stock’s fifty day simple moving average is $568.28 and its 200 day simple moving average is $478.35. Caterpillar Inc. has a one year low of $267.30 and a one year high of $627.50. The firm has a market cap of $272.88 billion, a price-to-earnings ratio of 29.93, a P/E/G ratio of 2.74 and a beta of 1.57. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.38 and a quick ratio of 0.86.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Monday, November 3rd. 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 during the quarter, compared to analyst estimates of $16.72 billion. During the same period in the prior year, the company posted $5.17 earnings per share. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, analysts expect 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 will be paid on Thursday, February 19th. Shareholders of record on Tuesday, January 20th will be given a $1.51 dividend. The ex-dividend date is Tuesday, January 20th. This represents a $6.04 dividend on an annualized basis and a yield of 1.0%. Caterpillar’s payout ratio is 31.01%.

Insider Activity

In related news, insider Lange Bob De sold 14,638 shares of the stock in a transaction that occurred on 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 sale, the insider directly owned 80,209 shares in the company, valued at $45,106,333.24. This represents a 15.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jason Kaiser sold 10,707 shares of Caterpillar stock in a transaction on 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 owned 8,649 shares of the company’s stock, valued at approximately $4,874,576.40. The trade was a 55.32% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 61,895 shares of company stock valued at $34,007,516. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.