Caterpillar Inc. (NYSE:CAT) Shares Purchased by Certuity LLC

Certuity LLC boosted its position in shares of Caterpillar Inc. (NYSE:CAT) by 6.2% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 3,734 shares of the industrial products company’s stock after acquiring an additional 218 shares during the quarter. Certuity LLC’s holdings in Caterpillar were worth $1,244,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in CAT. Acadian Asset Management LLC boosted its position in Caterpillar by 17.2% in the first quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock valued at $3,308,000 after buying an additional 1,327 shares during the last quarter. Diversify Advisory Services LLC purchased a new stake in shares of Caterpillar in the 1st quarter valued at $926,000. Natixis Advisors LLC increased its stake in shares of Caterpillar by 3.5% in the second quarter. Natixis Advisors LLC now owns 278,259 shares of the industrial products company’s stock worth $92,688,000 after acquiring an additional 9,321 shares during the period. Aigen Investment Management LP purchased a new position in shares of Caterpillar during the fourth quarter worth $222,000. Finally, Olistico Wealth LLC lifted its position in Caterpillar by 3.4% during the fourth quarter. Olistico Wealth LLC now owns 2,130 shares of the industrial products company’s stock valued at $630,000 after purchasing an additional 70 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

NYSE CAT opened at $329.36 on Friday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78. The stock’s 50 day simple moving average is $339.86 and its 200-day simple moving average is $343.44. The company has a market cap of $161.07 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 1.66 and a beta of 1.10. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $382.01.

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

Caterpillar Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd were paid a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend was Monday, July 22nd. This is a positive change from Caterpillar’s previous quarterly dividend of $1.30. Caterpillar’s dividend payout ratio (DPR) is 25.46%.

Caterpillar announced that its Board of Directors has authorized a stock buyback program on Wednesday, June 12th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to buy up to 12.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Bank of America reduced their price objective on Caterpillar from $385.00 to $376.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Truist Financial reissued a “buy” rating and issued a $399.00 price target (up from $390.00) on shares of Caterpillar in a report on Wednesday, August 7th. Raymond James initiated coverage on shares of Caterpillar in a research note on Friday, June 28th. They set a “market perform” rating on the stock. Barclays increased their price target on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Finally, Evercore ISI cut their price objective on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $336.31.

Insider Transactions at Caterpillar

In other news, Director Gerald Johnson acquired 100 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was acquired at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the purchase, the director now owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Caterpillar news, Director Gerald Johnson purchased 100 shares of Caterpillar stock in a transaction dated Wednesday, September 4th. The shares were acquired at an average price of $338.59 per share, with a total value 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Cheryl H. Johnson sold 1,508 shares of Caterpillar stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total transaction of $527,800.00. Following the completion of the transaction, the insider now owns 18,515 shares of the company’s stock, valued at approximately $6,480,250. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,668 shares of company stock worth $2,665,760. 0.33% of the stock is currently owned by insiders.

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.