Abel Hall LLC Takes $637,000 Position in Caterpillar Inc. $CAT

Abel Hall LLC acquired a new stake in shares of Caterpillar Inc. (NYSE:CAT) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,641 shares of the industrial products company’s stock, valued at approximately $637,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CAT. Valeo Financial Advisors LLC lifted its holdings in Caterpillar by 36,842.1% during the 2nd quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock valued at $2,833,836,000 after buying an additional 7,279,991 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in Caterpillar by 2,723.1% during the 1st quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company’s stock valued at $466,430,000 after buying an additional 1,364,183 shares in the last quarter. Nuveen LLC bought a new stake in Caterpillar during the 1st quarter valued at about $391,788,000. Assenagon Asset Management S.A. lifted its holdings in Caterpillar by 546.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 843,093 shares of the industrial products company’s stock valued at $327,297,000 after buying an additional 712,711 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Caterpillar by 9.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company’s stock valued at $1,064,951,000 after buying an additional 268,300 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Down 1.7%

Shares of Caterpillar stock opened at $486.86 on Wednesday. The firm’s 50 day moving average price is $439.39 and its 200-day moving average price is $380.92. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $505.59. The company has a market cap of $228.09 billion, a P/E ratio of 24.76, a PEG ratio of 3.01 and a beta of 1.46.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.88 by ($0.16). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The firm had revenue of $16.57 billion during the quarter, compared to analysts’ expectations of $16.14 billion. During the same period in the previous year, the firm earned $5.99 EPS. The firm’s quarterly revenue was down .7% on a year-over-year basis. On average, sell-side analysts predict that Caterpillar Inc. will post 19.86 EPS 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 $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 dividend yield of 1.2%. Caterpillar’s payout ratio is presently 30.72%.

Insider Transactions at Caterpillar

In other news, insider Jason Kaiser sold 2,161 shares of Caterpillar 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 transaction, the insider owned 8,632 shares of the company’s stock, valued at $3,605,586.40. The trade was a 20.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Susan C. Schwab sold 2,324 shares of Caterpillar stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the transaction, the director directly owned 6,917 shares in the company, valued at approximately $2,835,970. The trade was a 25.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,819 shares of company stock valued at $16,885,492 in the last 90 days. Insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Melius Research upgraded shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price objective for the company in a report on Wednesday, July 9th. Jefferies Financial Group reissued a “buy” rating and set a $500.00 target price on shares of Caterpillar in a research report on Friday, August 29th. Truist Financial raised their target price on shares of Caterpillar from $414.00 to $507.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Robert W. Baird raised their target price on shares of Caterpillar from $495.00 to $540.00 and gave the company an “outperform” rating in a research report on Wednesday, September 17th. Finally, JPMorgan Chase & Co. raised their target price on shares of Caterpillar from $475.00 to $520.00 and gave the company an “overweight” rating in a research report on Wednesday, August 6th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $466.53.

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.