Future Fund LLC Sells 357 Shares of Caterpillar Inc. $CAT

Future Fund LLC cut its position in shares of Caterpillar Inc. (NYSE:CAT) by 14.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,089 shares of the industrial products company’s stock after selling 357 shares during the quarter. Future Fund LLC’s holdings in Caterpillar were worth $811,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of CAT. Valeo Financial Advisors LLC grew its stake 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 worth $2,833,836,000 after buying an additional 7,279,991 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Caterpillar by 6.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,204,445 shares of the industrial products company’s stock worth $1,386,626,000 after acquiring an additional 264,054 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Caterpillar by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company’s stock worth $1,089,798,000 after purchasing an additional 15,347 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Caterpillar by 9.1% during 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 purchasing an additional 268,300 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Caterpillar by 5.0% in the first quarter. Invesco Ltd. now owns 3,141,936 shares of the industrial products company’s stock worth $1,036,211,000 after buying an additional 150,533 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently 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 for the company in a research report on Tuesday, August 19th. DA Davidson lifted their price objective on Caterpillar from $408.00 to $569.00 and gave the stock a “neutral” rating in a report on Monday, November 3rd. Erste Group Bank upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. HSBC raised shares of Caterpillar from a “hold” rating to a “buy” rating and lifted their target price for the stock from $405.00 to $660.00 in a research report on Wednesday. Finally, Hsbc Global Res raised Caterpillar from a “hold” rating to a “strong-buy” rating in a report on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $596.59.

Insider Transactions at Caterpillar

In related news, Director David Maclennan bought 300 shares of the business’s stock in a transaction dated Thursday, November 6th. The shares were purchased at an average price of $568.86 per share, with a total value of $170,658.00. Following the transaction, the director owned 7,947 shares in the company, valued at $4,520,730.42. This trade represents a 3.92% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO William E. Schaupp sold 1,200 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $572.22, for a total value of $686,664.00. Following the completion of the sale, the chief accounting officer owned 1,323 shares of the company’s stock, valued at approximately $757,047.06. This represents a 47.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 69,662 shares of company stock worth $33,575,140. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Price Performance

CAT stock opened at $562.82 on Monday. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $596.21. The firm has a market capitalization of $263.39 billion, a P/E ratio of 28.89, a price-to-earnings-growth ratio of 3.33 and a beta of 1.51. The company has a fifty day simple moving average of $491.77 and a two-hundred day simple moving average of $419.59. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 1.34.

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

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be paid a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s dividend payout ratio (DPR) is presently 31.01%.

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.