Caterpillar Inc. $CAT Shares Acquired by Harbour Investments Inc.

Harbour Investments Inc. boosted its position in shares of Caterpillar Inc. (NYSE:CAT) by 18.6% in the second quarter, Holdings Channel.com reports. The firm owned 7,642 shares of the industrial products company’s stock after acquiring an additional 1,200 shares during the period. Harbour Investments Inc.’s holdings in Caterpillar were worth $2,967,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in CAT. Valeo Financial Advisors LLC increased its position in shares of Caterpillar by 36,842.1% during 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 acquiring an additional 7,279,991 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Caterpillar by 6.7% during the 1st 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 valued at $1,386,626,000 after purchasing an additional 264,054 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Caterpillar by 0.5% during the 1st 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 purchasing an additional 15,347 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Caterpillar by 9.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company’s stock valued at $1,064,951,000 after purchasing an additional 268,300 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Caterpillar by 5.0% during the 1st quarter. Invesco Ltd. now owns 3,141,936 shares of the industrial products company’s stock valued at $1,036,211,000 after buying an additional 150,533 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Performance

Shares of CAT stock opened at $534.40 on Thursday. The company has a market cap of $250.35 billion, a P/E ratio of 27.18, a PEG ratio of 3.23 and a beta of 1.46. The business has a 50 day moving average of $448.68 and a two-hundred day moving average of $387.73. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $538.45. 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 announced its quarterly 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 company had revenue of $16.57 billion during the quarter, compared to the consensus estimate of $16.14 billion. During the same period last year, the business posted $5.99 EPS. The company’s revenue for the quarter was down .7% on a year-over-year basis. As a group, analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

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

Insider Buying and Selling

In related news, Director Susan C. Schwab sold 2,324 shares of Caterpillar stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $410.00, for a total value of $952,840.00. Following the sale, the director directly owned 6,917 shares in the company, valued at $2,835,970. This trade represents a 25.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,166 shares of the company’s stock in a transaction dated Friday, October 10th. The stock was sold at an average price of $505.29, for a total transaction of $8,673,808.14. Following the completion of the transaction, the chairman owned 448,173 shares of the company’s stock, valued at approximately $226,457,335.17. This trade represents a 3.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,985 shares of company stock valued at $25,559,300 in the last quarter. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

CAT has been the topic of several recent analyst reports. Bank of America upped their price target on shares of Caterpillar from $517.00 to $594.00 and gave the company a “buy” rating in a report on Wednesday. DA Davidson boosted their target price on shares of Caterpillar from $331.00 to $388.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Erste Group Bank raised shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Truist Financial boosted their price objective on Caterpillar from $507.00 to $582.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Finally, Evercore ISI raised Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 target price on the stock in a report on Tuesday, August 19th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $506.60.

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.