Lmcg Investments LLC Trims Position in Caterpillar Inc. $CAT

Lmcg Investments LLC cut its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 4.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 26,756 shares of the industrial products company’s stock after selling 1,291 shares during the quarter. Lmcg Investments LLC’s holdings in Caterpillar were worth $10,387,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Compass Financial Services Inc raised its position in 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 buying an additional 31 shares during the last quarter. Family Legacy Financial Solutions LLC purchased a new position in Caterpillar during the 2nd quarter worth approximately $32,000. Redmont Wealth Advisors LLC purchased a new position in Caterpillar during the 1st quarter worth approximately $33,000. Total Wealth Planning & Management Inc. purchased a new position in Caterpillar during the 2nd quarter worth approximately $38,000. Finally, Fiduciary Wealth Partners LLC purchased a new position in Caterpillar during the 1st quarter worth approximately $45,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Caterpillar news, Chairman Donald J. Umpleby III sold 17,166 shares of Caterpillar stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $462.65, for a total transaction of $7,941,849.90. Following the sale, the chairman owned 465,339 shares of the company’s stock, valued at $215,289,088.35. The trade was a 3.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of Caterpillar stock in a transaction on Friday, August 15th. The stock was sold at an average price of $410.00, for a total transaction of $952,840.00. Following the sale, the director directly owned 6,917 shares in the company, valued at approximately $2,835,970. This trade represents a 25.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,819 shares of company stock valued at $16,885,492 in the last 90 days. 0.33% of the stock is owned by insiders.

Caterpillar Stock Down 1.7%

CAT stock opened at $491.67 on Friday. The stock has a market capitalization of $230.34 billion, a P/E ratio of 25.01, a P/E/G ratio of 3.04 and a beta of 1.46. The firm has a 50-day simple moving average of $443.23 and a 200-day simple moving average of $383.88. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $511.50.

Caterpillar (NYSE:CAT) last announced its 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). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The business had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. During the same period last year, the firm earned $5.99 EPS. The company’s revenue for the quarter was down .7% compared to the same quarter last year. Equities analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

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

Analysts Set New Price Targets

CAT has been the topic of a number of analyst reports. Truist Financial raised their price objective on shares of Caterpillar from $507.00 to $582.00 and gave the stock a “buy” rating in a research note on Wednesday. Barclays raised their price objective on shares of Caterpillar from $383.00 to $425.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. Citigroup raised their price objective on shares of Caterpillar from $540.00 to $570.00 and gave the stock a “buy” rating in a research note on Tuesday. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Caterpillar in a research note on Monday, July 14th. Finally, Evercore ISI raised shares of Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price target on the stock in a research note on Tuesday, August 19th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $478.20.

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.