Caterpillar Inc. $CAT Shares Purchased by Courier Capital LLC

Courier Capital LLC lifted its stake in Caterpillar Inc. (NYSE:CAT) by 3.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,391 shares of the industrial products company’s stock after purchasing an additional 129 shares during the quarter. Courier Capital LLC’s holdings in Caterpillar were worth $1,705,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Sagespring Wealth Partners LLC increased its holdings in shares of Caterpillar by 3.1% in the second quarter. Sagespring Wealth Partners LLC now owns 21,140 shares of the industrial products company’s stock valued at $8,207,000 after purchasing an additional 645 shares during the last quarter. IFC Advisors LLC increased its holdings in shares of Caterpillar by 2.3% in the second quarter. IFC Advisors LLC now owns 5,186 shares of the industrial products company’s stock valued at $2,013,000 after purchasing an additional 119 shares during the last quarter. Wilmington Savings Fund Society FSB increased its holdings in shares of Caterpillar by 1.2% in the second quarter. Wilmington Savings Fund Society FSB now owns 20,099 shares of the industrial products company’s stock valued at $7,803,000 after purchasing an additional 231 shares during the last quarter. RFG Advisory LLC increased its holdings in shares of Caterpillar by 16.6% in the second quarter. RFG Advisory LLC now owns 8,004 shares of the industrial products company’s stock valued at $3,107,000 after purchasing an additional 1,141 shares during the last quarter. Finally, Perfromance Wealth Partners LLC increased its holdings in shares of Caterpillar by 5.6% in the second quarter. Perfromance Wealth Partners LLC now owns 3,581 shares of the industrial products company’s stock valued at $1,390,000 after purchasing an additional 190 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CAT shares. Oppenheimer increased their price target on Caterpillar from $480.00 to $513.00 and gave the company an “outperform” rating in a report on Monday, September 29th. Erste Group Bank upgraded Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Bank of America increased their price objective on Caterpillar from $495.00 to $517.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Melius upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price objective for the company in a research report on Wednesday, July 9th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Caterpillar in a research report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $501.47.

Insider Activity at Caterpillar

In related news, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction on Monday, August 11th. The stock was sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of the transaction, the insider directly owned 8,632 shares in the company, valued at approximately $3,605,586.40. This trade represents a 20.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,168 shares of Caterpillar stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total value of $7,088,152.16. Following the completion of the transaction, the chairman owned 482,505 shares of the company’s stock, valued at approximately $199,211,839.35. This trade represents a 3.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,985 shares of company stock worth $25,559,300. Company insiders own 0.33% of the company’s stock.

Caterpillar Trading Up 4.8%

CAT opened at $528.75 on Wednesday. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $531.56. The business has a fifty day simple moving average of $446.55 and a 200-day simple moving average of $386.71. The firm has a market cap of $247.71 billion, a P/E ratio of 26.89, a P/E/G ratio of 3.09 and a beta of 1.46. 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 (NYSE:CAT) last released its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 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 firm had revenue of $16.57 billion for the quarter, compared to analysts’ expectations of $16.14 billion. During the same quarter in the prior year, the business earned $5.99 earnings per share. The company’s quarterly revenue was down .7% on a year-over-year basis. On average, equities analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Monday, October 20th. Caterpillar’s dividend payout ratio (DPR) is currently 30.72%.

Caterpillar Company 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.