Tema Etfs LLC Sells 7,008 Shares of Caterpillar Inc. $CAT

Tema Etfs LLC reduced its position in shares of Caterpillar Inc. (NYSE:CAT) by 35.1% in the second quarter, HoldingsChannel reports. The firm owned 12,950 shares of the industrial products company’s stock after selling 7,008 shares during the quarter. Caterpillar makes up 1.3% of Tema Etfs LLC’s investment portfolio, making the stock its 24th largest position. Tema Etfs LLC’s holdings in Caterpillar were worth $5,027,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CAT. Kilter Group LLC bought a new stake in Caterpillar during the second quarter valued at approximately $27,000. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Caterpillar during the 2nd quarter worth $28,000. Compass Financial Services Inc boosted its stake in shares of 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 acquiring an additional 31 shares during the last quarter. Family Legacy Financial Solutions LLC bought a new stake in shares of Caterpillar during the 2nd quarter valued at $32,000. Finally, RiverPark Advisors LLC purchased a new stake in shares of Caterpillar in the 2nd quarter worth $32,000. Institutional investors own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

CAT has been the subject of several recent research reports. Barclays boosted their price target on Caterpillar from $485.00 to $555.00 and gave the company an “equal weight” rating in a report on Thursday, October 30th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Caterpillar in a research report on Wednesday, November 5th. Argus increased their target price on shares of Caterpillar from $460.00 to $625.00 and gave the stock a “buy” rating in a report on Wednesday, November 19th. Wells Fargo & Company initiated coverage on shares of Caterpillar in a research note on Thursday, November 13th. They set an “overweight” rating and a $675.00 target price on the stock. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Caterpillar in a research report on Monday. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Caterpillar currently has an average rating of “Moderate Buy” and an average price target of $610.32.

Caterpillar Trading Up 1.3%

Caterpillar stock opened at $598.89 on Friday. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $602.72. The firm’s 50 day moving average price is $539.70 and its 200-day moving average price is $450.00. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.38 and a quick ratio of 0.86. The stock has a market cap of $280.27 billion, a P/E ratio of 30.74, a PEG ratio of 2.79 and a beta of 1.57.

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

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, October 20th were issued a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, October 20th. Caterpillar’s payout ratio is 31.01%.

Insider Buying and Selling

In other news, Director David Maclennan acquired 300 shares of the firm’s stock in a transaction dated Thursday, November 6th. The shares were acquired at an average cost of $568.86 per share, with a total value of $170,658.00. Following the acquisition, the director directly owned 7,947 shares of the company’s stock, valued at approximately $4,520,730.42. The trade was a 3.92% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jason Kaiser sold 10,707 shares of the stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $563.60, for a total value of $6,034,465.20. Following the transaction, the insider owned 8,649 shares of the company’s stock, valued at $4,874,576.40. This represents a 55.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 79,061 shares of company stock valued at $41,949,366 in the last ninety days. Company insiders own 0.33% of the company’s stock.

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.