IFC Advisors LLC grew its stake in Caterpillar Inc. (NYSE:CAT – Free Report) by 2.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,186 shares of the industrial products company’s stock after acquiring an additional 119 shares during the quarter. IFC Advisors LLC’s holdings in Caterpillar were worth $2,013,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the business. GSB Wealth Management LLC increased its stake in Caterpillar by 1.2% in the second quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company’s stock valued at $832,000 after purchasing an additional 26 shares during the last quarter. Verum Partners LLC increased its stake in Caterpillar by 2.5% in the second quarter. Verum Partners LLC now owns 1,059 shares of the industrial products company’s stock valued at $411,000 after purchasing an additional 26 shares during the last quarter. Vanguard Capital Wealth Advisors increased its stake in Caterpillar by 0.8% in the second quarter. Vanguard Capital Wealth Advisors now owns 3,575 shares of the industrial products company’s stock valued at $1,388,000 after purchasing an additional 27 shares during the last quarter. InTrack Investment Management Inc increased its stake in Caterpillar by 0.6% in the second quarter. InTrack Investment Management Inc now owns 4,683 shares of the industrial products company’s stock valued at $1,818,000 after purchasing an additional 27 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in Caterpillar by 2.4% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,216 shares of the industrial products company’s stock worth $472,000 after acquiring an additional 29 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.
Caterpillar Price Performance
Shares of NYSE CAT opened at $505.11 on Tuesday. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $511.50. The business has a 50-day moving average of $444.65 and a 200-day moving average of $385.71. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. The company has a market capitalization of $236.64 billion, a price-to-earnings ratio of 25.69, a PEG ratio of 3.01 and a beta of 1.46.
Caterpillar Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be issued a $1.51 dividend. The ex-dividend date of this dividend is Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a yield of 1.2%. Caterpillar’s dividend payout ratio is currently 30.72%.
Insider Activity at Caterpillar
In related news, Chairman Donald J. Umpleby III sold 17,168 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total value of $7,088,152.16. Following the completion of the transaction, the chairman owned 482,505 shares of the company’s stock, valued at approximately $199,211,839.35. This represents a 3.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Susan C. Schwab sold 2,324 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $410.00, for a total value of $952,840.00. Following the completion of the transaction, the director directly owned 6,917 shares of the company’s stock, valued at $2,835,970. This represents a 25.15% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,819 shares of company stock valued at $16,885,492. Insiders own 0.33% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have commented on CAT shares. DA Davidson upped their price target on Caterpillar from $331.00 to $388.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 22nd. Erste Group Bank upgraded Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Bank of America upped their price target on Caterpillar from $495.00 to $517.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Melius upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price target for the company in a research note on Wednesday, July 9th. Finally, Citigroup upped their price target on Caterpillar from $540.00 to $570.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Caterpillar has a consensus rating of “Moderate Buy” and an average price target of $488.13.
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.
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