CORDA Investment Management LLC. Purchases 324 Shares of Caterpillar Inc. $CAT

CORDA Investment Management LLC. increased its position in Caterpillar Inc. (NYSE:CAT) by 10.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,515 shares of the industrial products company’s stock after purchasing an additional 324 shares during the quarter. CORDA Investment Management LLC.’s holdings in Caterpillar were worth $1,365,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of CAT. Valeo Financial Advisors LLC raised its holdings in shares of Caterpillar by 36,842.1% in the 2nd quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock valued at $2,833,836,000 after purchasing an additional 7,279,991 shares during the period. Pacer Advisors Inc. raised its holdings in Caterpillar by 2,723.1% in the 1st quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company’s stock valued at $466,430,000 after acquiring an additional 1,364,183 shares during the period. Nuveen LLC bought a new position in Caterpillar in the 1st quarter valued at about $391,788,000. Assenagon Asset Management S.A. raised its holdings in Caterpillar by 546.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 843,093 shares of the industrial products company’s stock valued at $327,297,000 after acquiring an additional 712,711 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in 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 acquiring an additional 268,300 shares during the period. 70.98% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $417.70, for a total value of $902,649.70. Following the sale, the insider owned 8,632 shares in the company, valued at $3,605,586.40. This trade represents a 20.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Susan C. Schwab sold 2,324 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the sale, the director owned 6,917 shares in the company, valued at $2,835,970. This represents a 25.15% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,985 shares of company stock worth $25,559,300. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Stock Performance

NYSE CAT opened at $527.41 on Monday. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $247.08 billion, a price-to-earnings ratio of 26.83, a P/E/G ratio of 3.00 and a beta of 1.46. The firm’s 50 day simple moving average is $453.38 and its 200 day simple moving average is $391.52. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $544.99.

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

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors 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 (DPR) is currently 30.72%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CAT. 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 report on Tuesday, August 19th. UBS Group increased their price target on shares of Caterpillar from $450.00 to $506.00 and gave the company a “neutral” rating in a report on Monday, October 13th. Robert W. Baird increased their target price on shares of Caterpillar from $495.00 to $540.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 17th. Oppenheimer increased their target price on shares of Caterpillar from $480.00 to $513.00 and gave the stock an “outperform” rating in a research report on Monday, September 29th. Finally, Sanford C. Bernstein increased their target price on shares of Caterpillar from $447.00 to $502.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 14th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Caterpillar currently has a consensus rating of “Moderate Buy” and a consensus price target of $510.60.

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.