Almanack Investment Partners LLC. Makes New Investment in Caterpillar Inc. $CAT

Almanack Investment Partners LLC. acquired a new stake in shares of Caterpillar Inc. (NYSE:CAT) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,708 shares of the industrial products company’s stock, valued at approximately $2,216,000.

Other institutional investors have also recently made changes to their positions in the company. Compass Financial Services Inc grew its position in shares of Caterpillar by 49.2% during the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 31 shares in the last quarter. Family Legacy Financial Solutions LLC purchased a new position in shares of Caterpillar during the second quarter valued at about $32,000. Redmont Wealth Advisors LLC purchased a new position in shares of Caterpillar during the first quarter valued at about $33,000. Total Wealth Planning & Management Inc. bought a new position in shares of Caterpillar in the 2nd quarter valued at about $38,000. Finally, Fiduciary Wealth Partners LLC bought a new position in shares of Caterpillar in the 1st quarter valued at about $45,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analyst Ratings Changes

CAT has been the subject of a number of analyst reports. Oppenheimer increased their price target on shares of Caterpillar from $480.00 to $513.00 and gave the company an “outperform” rating in a report on Monday, September 29th. Truist Financial increased their price target on shares of Caterpillar from $507.00 to $582.00 and gave the company a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Caterpillar from $475.00 to $520.00 and gave the company an “overweight” rating in a report on Wednesday, August 6th. Jefferies Financial Group increased their price target on shares of Caterpillar from $500.00 to $570.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Finally, Erste Group Bank raised shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $478.20.

Caterpillar Stock Down 1.7%

Shares of NYSE CAT opened at $491.67 on Monday. The firm has a 50-day simple moving average of $443.23 and a two-hundred day simple moving average of $384.49. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $511.50. The company has a market cap of $230.34 billion, a P/E ratio of 25.01, a PEG ratio of 3.01 and a beta of 1.46.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing the consensus estimate of $4.88 by ($0.16). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The company had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $16.14 billion. During the same period in the prior year, the firm posted $5.99 EPS. The business’s revenue was down .7% on a year-over-year basis. Research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s payout ratio is currently 30.72%.

Insider Activity

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 transaction of $902,649.70. Following the completion of the sale, the insider owned 8,632 shares of the company’s stock, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 shares were sold at an average price of $410.00, for a total transaction of $952,840.00. Following the sale, 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 quarter, insiders sold 38,819 shares of company stock valued at $16,885,492. Corporate insiders own 0.33% of the company’s stock.

About Caterpillar

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.