Creekmur Asset Management LLC Has $8.92 Million Holdings in Caterpillar Inc. $CAT

Creekmur Asset Management LLC lifted its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 19.3% during the second quarter, Holdings Channel.com reports. The firm owned 22,980 shares of the industrial products company’s stock after acquiring an additional 3,722 shares during the quarter. Caterpillar makes up 1.6% of Creekmur Asset Management LLC’s investment portfolio, making the stock its 13th biggest holding. Creekmur Asset Management LLC’s holdings in Caterpillar were worth $8,921,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Trivium Point Advisory LLC lifted its holdings in Caterpillar by 132.9% in the second quarter. Trivium Point Advisory LLC now owns 1,926 shares of the industrial products company’s stock valued at $748,000 after buying an additional 1,099 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Caterpillar by 9.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company’s stock valued at $26,037,000 after buying an additional 7,125 shares during the period. Palmer Knight Co acquired a new position in Caterpillar in the second quarter valued at $5,884,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of Caterpillar by 11.2% during the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,315 shares of the industrial products company’s stock valued at $5,557,000 after purchasing an additional 1,440 shares during the period. Finally, Ransom Advisory Ltd acquired a new position in shares of Caterpillar during the first quarter valued at about $427,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Activity

In related news, insider Jason Kaiser sold 2,161 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of the transaction, the insider directly owned 8,632 shares of the company’s stock, valued at approximately $3,605,586.40. This trade represents a 20.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the completion of the transaction, the chairman directly owned 482,505 shares of the company’s stock, valued at approximately $199,211,839.35. This trade represents a 3.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 55,985 shares of company stock valued at $25,559,300 in the last three months. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Barclays upped their price objective on shares of Caterpillar from $485.00 to $555.00 and gave the company an “equal weight” rating in a report on Thursday. Sanford C. Bernstein upped their price objective on shares of Caterpillar from $502.00 to $557.00 and gave the company a “market perform” rating in a report on Thursday. Weiss Ratings reiterated a “buy (b)” rating on shares of Caterpillar in a report on Tuesday, October 14th. Morgan Stanley lifted their price target on shares of Caterpillar from $350.00 to $380.00 and gave the company an “underweight” rating in a research report on Thursday. Finally, Truist Financial reissued a “buy” rating and issued a $729.00 price target (up previously from $582.00) on shares of Caterpillar in a research report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $562.25.

Caterpillar Trading Down 0.5%

CAT opened at $582.30 on Friday. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $596.21. 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 company’s 50-day moving average is $475.55 and its 200 day moving average is $406.43. The firm has a market capitalization of $272.80 billion, a PE ratio of 29.89, a P/E/G ratio of 3.33 and a beta of 1.46.

Caterpillar (NYSE:CAT) last issued 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 business 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 quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.17 EPS. As a group, research analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business also recently announced 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. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s dividend payout ratio is currently 30.72%.

Caterpillar 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.