WNY Asset Management LLC Purchases New Position in Caterpillar Inc. $CAT

WNY Asset Management LLC acquired a new position in shares of Caterpillar Inc. (NYSE:CAT) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 938 shares of the industrial products company’s stock, valued at approximately $999,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Decker Retirement Planning Inc. boosted its stake in Caterpillar by 440.0% in the 2nd quarter. Decker Retirement Planning Inc. now owns 27 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 22 shares during the period. Matrix Trust Co increased its position in Caterpillar by 93.8% during the 2nd quarter. Matrix Trust Co now owns 31 shares of the industrial products company’s stock worth $33,000 after buying an additional 15 shares during the period. Axiom Investment Management LLC acquired a new stake in shares of Caterpillar during the second quarter worth $36,000. Lam Group Inc. bought a new stake in shares of Caterpillar in the first quarter valued at about $26,000. Finally, Tacita Capital Inc acquired a new position in shares of Caterpillar in the second quarter valued at about $47,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Joseph E. Creed sold 32,401 shares of the business’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $808.98, for a total transaction of $26,211,760.98. Following the sale, the chief executive officer owned 34,555 shares in the company, valued at $27,954,303.90. The trade was a 48.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.33% of the stock is owned by corporate insiders.

Caterpillar Trading Down 0.1%

Shares of Caterpillar stock opened at $813.51 on Tuesday. The firm’s 50 day moving average is $868.12 and its 200 day moving average is $839.26. The firm has a market capitalization of $373.95 billion, a PE ratio of 35.00, a price-to-earnings-growth ratio of 1.41 and a beta of 1.60. Caterpillar Inc. has a 1 year low of $416.44 and a 1 year high of $1,073.46. The company has a current ratio of 1.37, a quick ratio of 0.85 and a debt-to-equity ratio of 1.65.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, August 4th. The industrial products company reported $8.17 EPS for the quarter, beating the consensus estimate of $6.22 by $1.95. The business had revenue of $20.54 billion during the quarter, compared to the consensus estimate of $19.34 billion. Caterpillar had a net margin of 14.51% and a return on equity of 55.53%. The firm’s revenue was up 23.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.72 EPS. Equities research analysts forecast that Caterpillar Inc. will post 27.34 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Monday, July 20th were issued a dividend of $1.63 per share. This is a positive change from Caterpillar’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend was Monday, July 20th. This represents a $6.52 annualized dividend and a dividend yield of 0.8%. Caterpillar’s dividend payout ratio (DPR) is 28.06%.

Wall Street Analysts Forecast Growth

CAT has been the subject of a number of recent research reports. Barclays boosted their price objective on shares of Caterpillar from $800.00 to $900.00 and gave the company an “equal weight” rating in a report on Thursday, August 6th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $1,002.00 price target on shares of Caterpillar in a research report on Wednesday, August 5th. Citigroup boosted their price target on Caterpillar from $1,020.00 to $1,100.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Truist Financial set a $980.00 price objective on Caterpillar in a research note on Wednesday, August 5th. Finally, Royal Bank Of Canada upped their target price on Caterpillar from $877.00 to $897.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $995.52.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.