Empirical Finance LLC Grows Stake in Caterpillar Inc. $CAT

Empirical Finance LLC raised its position in shares of Caterpillar Inc. (NYSE:CAT) by 0.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,807 shares of the industrial products company’s stock after purchasing an additional 102 shares during the period. Empirical Finance LLC’s holdings in Caterpillar were worth $6,913,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Mid American Wealth Advisory Group Inc. purchased a new stake in Caterpillar in the 2nd quarter worth about $28,000. Compass Financial Services Inc lifted its holdings in Caterpillar by 49.2% during the first 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. Family Legacy Financial Solutions LLC bought a new position in Caterpillar during the second quarter worth about $32,000. Harbor Asset Planning Inc. purchased a new position in shares of Caterpillar in the second quarter worth about $34,000. Finally, Total Wealth Planning & Management Inc. bought a new stake in shares of Caterpillar in the second quarter valued at approximately $38,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $546.75 on Wednesday. The company’s fifty day moving average price is $511.40 and its 200-day moving average price is $431.86. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.38 and a quick ratio of 0.81. The firm has a market capitalization of $255.87 billion, a price-to-earnings ratio of 28.07, a PEG ratio of 3.33 and a beta of 1.51. Caterpillar Inc. has a one year low of $267.30 and a one year high of $596.21.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.52 by $0.43. The company had revenue of $17.64 billion during the quarter, compared to the consensus estimate of $16.72 billion. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The firm’s revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.17 EPS. 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 disclosed 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 is Monday, October 20th. This represents a $6.04 annualized dividend and a dividend yield of 1.1%. Caterpillar’s dividend payout ratio is 31.01%.

Insider Activity at Caterpillar

In other Caterpillar news, insider Lange Bob De sold 14,638 shares of Caterpillar stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $562.36, for a total transaction of $8,231,825.68. Following the transaction, the insider directly owned 80,209 shares of the company’s stock, valued at approximately $45,106,333.24. This trade represents a 15.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Anthony D. Fassino sold 8,184 shares of the company’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $570.18, for a total transaction of $4,666,353.12. Following the completion of the sale, the insider directly owned 41,512 shares of the company’s stock, valued at $23,669,312.16. This trade represents a 16.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 86,229 shares of company stock worth $43,323,118 in the last quarter. 0.33% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CAT. Hsbc Global Res raised shares of Caterpillar from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Royal Bank Of Canada began coverage on Caterpillar in a research report on Wednesday, October 22nd. They issued a “sector perform” rating and a $560.00 price target for the company. UBS Group increased their price objective on Caterpillar from $506.00 to $581.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. JPMorgan Chase & Co. lifted their target price on Caterpillar from $650.00 to $730.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Finally, Citigroup upped their price target on Caterpillar from $570.00 to $670.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Three analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Caterpillar currently has a consensus rating of “Moderate Buy” and an average price target of $600.94.

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.