Boyd Watterson Asset Management LLC OH Grows Stock Position in Caterpillar Inc. $CAT

Boyd Watterson Asset Management LLC OH boosted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 0.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 10,762 shares of the industrial products company’s stock after buying an additional 33 shares during the quarter. Caterpillar makes up approximately 1.3% of Boyd Watterson Asset Management LLC OH’s investment portfolio, making the stock its 20th biggest holding. Boyd Watterson Asset Management LLC OH’s holdings in Caterpillar were worth $4,178,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Aire Advisors LLC raised its holdings in Caterpillar by 0.3% during the 2nd quarter. Aire Advisors LLC now owns 9,042 shares of the industrial products company’s stock valued at $3,510,000 after buying an additional 25 shares during the period. Dumont & Blake Investment Advisors LLC raised its holdings in Caterpillar by 0.5% during the 2nd quarter. Dumont & Blake Investment Advisors LLC now owns 4,954 shares of the industrial products company’s stock valued at $1,923,000 after buying an additional 25 shares during the period. GSB Wealth Management LLC raised its holdings in Caterpillar by 1.2% during the 2nd quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company’s stock valued at $832,000 after buying an additional 26 shares during the period. Verum Partners LLC raised its holdings in Caterpillar by 2.5% during the 2nd quarter. Verum Partners LLC now owns 1,059 shares of the industrial products company’s stock valued at $411,000 after buying an additional 26 shares during the period. Finally, Vanguard Capital Wealth Advisors raised its holdings in Caterpillar by 0.8% during the 2nd quarter. Vanguard Capital Wealth Advisors now owns 3,575 shares of the industrial products company’s stock valued at $1,388,000 after buying an additional 27 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

CAT opened at $527.12 on Tuesday. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $544.99. 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 business’s fifty day simple moving average is $466.75 and its 200-day simple moving average is $401.50. The company has a market capitalization of $246.95 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 2.98 and a beta of 1.46.

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 analysts’ consensus estimates of $4.88 by ($0.16). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The firm had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $16.14 billion. During the same period in the previous year, the company posted $5.99 EPS. Caterpillar’s quarterly revenue was down .7% compared to the same quarter last year. On average, equities research analysts anticipate 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. Stockholders of record on Monday, October 20th will be given a dividend of $1.51 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.1%. Caterpillar’s dividend payout ratio is presently 30.72%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CAT. Melius Research upgraded Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price target on the stock in a report on Wednesday, July 9th. Sanford C. Bernstein upped their price objective on Caterpillar from $447.00 to $502.00 and gave the company a “market perform” rating in a research report on Tuesday, October 14th. Evercore ISI raised Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price objective on the stock in a research report on Tuesday, August 19th. Oppenheimer upped their price objective on Caterpillar from $480.00 to $513.00 and gave the company an “outperform” rating in a research report on Monday, September 29th. Finally, Truist Financial upped their price objective on Caterpillar from $507.00 to $582.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Caterpillar has a consensus rating of “Moderate Buy” and an average price target of $518.19.

Insider Transactions at Caterpillar

In other news, Chairman Donald J. Umpleby III sold 17,168 shares of the 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 transaction, the chairman owned 482,505 shares of the company’s stock, valued at approximately $199,211,839.35. This represents a 3.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Susan C. Schwab sold 2,324 shares of the company’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the sale, the director owned 6,917 shares of the company’s stock, valued at $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,985 shares of company stock valued at $25,559,300. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar 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.