Caterpillar Inc. $CAT Shares Bought by Sage Mountain Advisors LLC

Sage Mountain Advisors LLC raised its stake in Caterpillar Inc. (NYSE:CAT) by 2.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,137 shares of the industrial products company’s stock after purchasing an additional 85 shares during the period. Sage Mountain Advisors LLC’s holdings in Caterpillar were worth $1,218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Caterpillar in the 2nd quarter valued at about $28,000. Family Legacy Financial Solutions LLC purchased a new position in shares of Caterpillar in the 2nd quarter valued at approximately $32,000. Harbor Asset Planning Inc. purchased a new position in shares of Caterpillar in the 2nd quarter valued at approximately $34,000. Compass Financial Services Inc grew its stake in shares of Caterpillar by 49.2% in the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 31 shares during the last quarter. Finally, Redmont Wealth Advisors LLC purchased a new position in shares of Caterpillar in the 1st quarter valued at approximately $33,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analysts Set New Price Targets

CAT has been the topic of several analyst reports. Evercore ISI upgraded Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 target price on the stock in a research note on Tuesday, August 19th. Erste Group Bank upgraded Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Royal Bank Of Canada initiated coverage on Caterpillar in a research note on Wednesday. They issued a “sector perform” rating and a $560.00 target price on the stock. Melius upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 target price on the stock in a research note on Wednesday, July 9th. Finally, DA Davidson lifted their target price on Caterpillar from $331.00 to $388.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $518.19.

Insider Buying and Selling

In related news, Chairman Donald J. Umpleby III sold 17,168 shares of Caterpillar stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the completion of the transaction, the chairman directly owned 482,505 shares of the company’s stock, valued at approximately $199,211,839.35. The trade was a 3.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 transaction, the insider directly owned 8,632 shares of the company’s stock, valued at approximately $3,605,586.40. This represents a 20.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,985 shares of company stock valued at $25,559,300. 0.33% of the stock is owned by insiders.

Caterpillar Stock Up 0.3%

CAT opened at $522.13 on Friday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. The business has a 50 day simple moving average of $464.46 and a 200-day simple moving average of $398.36. The stock has a market capitalization of $244.61 billion, a P/E ratio of 26.56, a P/E/G ratio of 2.96 and a beta of 1.46. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $544.99.

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

Caterpillar Announces Dividend

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