JGP Wealth Management LLC Takes $235,000 Position in Caterpillar Inc. $CAT

JGP Wealth Management LLC bought a new stake in shares of Caterpillar Inc. (NYSE:CAT) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 605 shares of the industrial products company’s stock, valued at approximately $235,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Valeo Financial Advisors LLC lifted its position in Caterpillar by 36,842.1% in the second quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock worth $2,833,836,000 after buying an additional 7,279,991 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Caterpillar by 6.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,204,445 shares of the industrial products company’s stock worth $1,386,626,000 after buying an additional 264,054 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Caterpillar by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company’s stock worth $1,089,798,000 after buying an additional 15,347 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Caterpillar by 9.1% in the first quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company’s stock worth $1,064,951,000 after buying an additional 268,300 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Caterpillar by 5.0% in the first quarter. Invesco Ltd. now owns 3,141,936 shares of the industrial products company’s stock worth $1,036,211,000 after buying an additional 150,533 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Caterpillar

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

Caterpillar Stock Performance

Shares of Caterpillar stock opened at $528.75 on Wednesday. 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 current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $531.56. The stock’s fifty day moving average price is $446.55 and its 200-day moving average price is $386.71.

Caterpillar (NYSE:CAT) last announced 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). The firm had revenue of $16.57 billion for the quarter, compared to analysts’ expectations of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The business’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.99 EPS. On average, equities research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business 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 $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, October 20th. Caterpillar’s payout ratio is 30.72%.

Analyst Ratings Changes

CAT has been the subject of a number of analyst reports. UBS Group raised their price target on Caterpillar from $450.00 to $506.00 and gave the stock a “neutral” rating in a research report on Monday. Weiss Ratings reiterated a “buy (b)” rating on shares of Caterpillar in a research note on Tuesday. JPMorgan Chase & Co. boosted their target price on shares of Caterpillar from $505.00 to $650.00 and gave the company an “overweight” rating in a research note on Tuesday. Melius upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price target on the stock in a report on Wednesday, July 9th. Finally, Truist Financial upped their price target on shares of Caterpillar from $507.00 to $582.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. 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, the company has an average rating of “Moderate Buy” and an average price target of $501.47.

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.