Columbia Asset Management Has $6.12 Million Stock Position in Caterpillar Inc. (NYSE:CAT)

Columbia Asset Management lessened its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 2.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,380 shares of the industrial products company’s stock after selling 379 shares during the period. Caterpillar accounts for 1.1% of Columbia Asset Management’s holdings, making the stock its 22nd biggest holding. Columbia Asset Management’s holdings in Caterpillar were worth $6,122,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Gilbert & Cook Inc. raised its stake in Caterpillar by 3.9% during the fourth quarter. Gilbert & Cook Inc. now owns 5,059 shares of the industrial products company’s stock worth $1,496,000 after buying an additional 192 shares during the last quarter. 9258 Wealth Management LLC boosted its holdings in shares of Caterpillar by 1.5% during the 4th quarter. 9258 Wealth Management LLC now owns 3,839 shares of the industrial products company’s stock worth $1,135,000 after buying an additional 55 shares in the last quarter. Rollins Financial grew its position in shares of Caterpillar by 49.1% during the 4th quarter. Rollins Financial now owns 6,395 shares of the industrial products company’s stock worth $1,891,000 after buying an additional 2,107 shares during the period. Gryphon Financial Partners LLC increased its stake in shares of Caterpillar by 6.6% in the 4th quarter. Gryphon Financial Partners LLC now owns 1,496 shares of the industrial products company’s stock valued at $420,000 after acquiring an additional 92 shares in the last quarter. Finally, Wealthspire Advisors LLC lifted its position in shares of Caterpillar by 8.9% during the 4th quarter. Wealthspire Advisors LLC now owns 5,336 shares of the industrial products company’s stock valued at $1,578,000 after acquiring an additional 438 shares during the period. Institutional investors own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CAT. Truist Financial reiterated a “buy” rating and set a $399.00 price objective (up previously from $390.00) on shares of Caterpillar in a report on Wednesday, August 7th. Barclays lifted their price target on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. Bank of America dropped their price objective on shares of Caterpillar from $385.00 to $376.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Evercore ISI dropped their price target on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Finally, Citigroup started coverage on Caterpillar in a report on Wednesday, June 26th. They issued a “buy” rating and a $380.00 target price on the stock. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Caterpillar presently has a consensus rating of “Hold” and a consensus target price of $336.31.

Insider Buying and Selling

In other Caterpillar news, insider Cheryl H. Johnson sold 2,975 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the sale, the insider now owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Gerald Johnson acquired 100 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was bought at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the transaction, the director now owns 2,842 shares of the company’s stock, valued at $962,272.78. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Cheryl H. Johnson sold 2,975 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the transaction, the insider now directly owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,668 shares of company stock valued at $2,665,760. Company insiders own 0.33% of the company’s stock.

Caterpillar Trading Down 1.0 %

NYSE:CAT opened at $333.50 on Friday. Caterpillar Inc. has a 12 month low of $223.76 and a 12 month high of $382.01. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. The firm’s 50 day moving average is $339.94 and its 200 day moving average is $343.18. The stock has a market capitalization of $163.10 billion, a PE ratio of 15.06, a price-to-earnings-growth ratio of 1.66 and a beta of 1.12.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, topping the consensus estimate of $5.53 by $0.46. The company had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.55 EPS. Sell-side analysts expect that Caterpillar Inc. will post 21.87 earnings per share for the current year.

Caterpillar Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Monday, July 22nd were paid a dividend of $1.41 per share. This is a boost from Caterpillar’s previous quarterly dividend of $1.30. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend was Monday, July 22nd. Caterpillar’s dividend payout ratio is presently 25.46%.

Caterpillar announced that its Board of Directors has initiated a share buyback program on Wednesday, June 12th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 12.7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

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.