Achmea Investment Management B.V. Boosts Holdings in Caterpillar Inc. $CAT

Achmea Investment Management B.V. raised its position in shares of Caterpillar Inc. (NYSE:CAT) by 5.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 127,903 shares of the industrial products company’s stock after purchasing an additional 6,769 shares during the quarter. Achmea Investment Management B.V.’s holdings in Caterpillar were worth $49,653,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mid American Wealth Advisory Group Inc. bought a new stake in shares of Caterpillar in the 2nd quarter valued at approximately $28,000. Compass Financial Services Inc increased its holdings in Caterpillar by 49.2% during the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 31 shares during the period. Family Legacy Financial Solutions LLC purchased a new position in Caterpillar during the 2nd quarter worth $32,000. Harbor Asset Planning Inc. purchased a new position in Caterpillar during the 2nd quarter worth $34,000. Finally, Total Wealth Planning & Management Inc. purchased a new position in Caterpillar during the 2nd quarter worth $38,000. 70.98% of the stock is owned by institutional investors.

Insider Buying and Selling at Caterpillar

In other news, Chairman Donald J. Umpleby III sold 17,168 shares of Caterpillar stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan C. Schwab sold 2,324 shares of Caterpillar stock in a transaction on Friday, August 15th. The stock was sold at an average price of $410.00, for a total transaction of $952,840.00. Following the sale, the director owned 6,917 shares in the company, valued at $2,835,970. This represents a 25.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 55,985 shares of company stock valued at $25,559,300 in the last 90 days. Company insiders own 0.33% of the company’s stock.

Caterpillar Stock Performance

CAT opened at $569.33 on Thursday. The firm has a market capitalization of $266.72 billion, a PE ratio of 29.23, a PEG ratio of 3.33 and a beta of 1.51. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 1.34. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $596.21. The firm’s 50-day moving average price is $486.22 and its 200 day moving average price is $414.84.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $4.95 EPS for the quarter, beating the consensus estimate of $4.52 by $0.43. The firm had revenue of $17.64 billion during the quarter, compared to analysts’ expectations of $16.72 billion. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the firm earned $5.17 earnings per share. As a group, sell-side analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be given a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s payout ratio is currently 31.01%.

Analyst Upgrades and Downgrades

CAT has been the topic of several research reports. DA Davidson raised their price objective on Caterpillar from $408.00 to $569.00 and gave the stock a “neutral” rating in a report on Monday. Erste Group Bank upgraded Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Truist Financial reiterated a “buy” rating and set a $729.00 price objective (up previously from $582.00) on shares of Caterpillar in a research note on Thursday, October 30th. JPMorgan Chase & Co. lifted their price objective on Caterpillar from $650.00 to $730.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Finally, Jefferies Financial Group lifted their price target on Caterpillar from $500.00 to $570.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $588.94.

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.