535 Shares in Caterpillar Inc. $CAT Bought by Darden Wealth Group Inc

Darden Wealth Group Inc purchased a new position in shares of Caterpillar Inc. (NYSE:CAT) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 535 shares of the industrial products company’s stock, valued at approximately $208,000.

Other hedge funds have also bought and sold shares of the company. Trivium Point Advisory LLC increased its position in Caterpillar by 132.9% during the second quarter. Trivium Point Advisory LLC now owns 1,926 shares of the industrial products company’s stock worth $748,000 after purchasing an additional 1,099 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Caterpillar by 9.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company’s stock valued at $26,037,000 after acquiring an additional 7,125 shares during the last quarter. Palmer Knight Co acquired a new position in Caterpillar in the second quarter valued at approximately $5,884,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in Caterpillar by 11.2% during the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,315 shares of the industrial products company’s stock worth $5,557,000 after acquiring an additional 1,440 shares during the last quarter. Finally, Ransom Advisory Ltd purchased a new stake in Caterpillar in the first quarter valued at $427,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

NYSE:CAT opened at $522.13 on Friday. The company has a market cap of $244.61 billion, a price-to-earnings ratio of 26.56, a price-to-earnings-growth ratio of 2.98 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 Inc. has a 52 week low of $267.30 and a 52 week high of $544.99. The company has a fifty day simple moving average of $464.46 and a two-hundred day simple moving average of $399.24.

Caterpillar (NYSE:CAT) last released its 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 company had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. During the same period in the previous year, the firm earned $5.99 earnings per share. The company’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, 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 announced a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be issued a $1.51 dividend. 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 dividend payout ratio (DPR) is 30.72%.

Insider Buying and Selling

In related news, insider Jason Kaiser sold 2,161 shares of the 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 owned 8,632 shares of the company’s stock, valued at $3,605,586.40. This represents a 20.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the firm’s 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 sale, the chairman owned 482,505 shares in the company, valued at approximately $199,211,839.35. This represents a 3.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,985 shares of company stock worth $25,559,300 over the last 90 days. 0.33% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CAT has been the subject of a number of recent analyst reports. Bank of America raised their price objective on Caterpillar from $517.00 to $594.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Evercore ISI upgraded shares of Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price target for the company in a research report on Tuesday, August 19th. Truist Financial upped their price objective on shares of Caterpillar from $507.00 to $582.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Melius Research upgraded shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 target price for the company in a report on Wednesday, July 9th. Finally, Citigroup upped their price target on Caterpillar from $540.00 to $570.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $518.19.

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.