Callan Family Office LLC Buys 12,765 Shares of Caterpillar Inc. $CAT

Callan Family Office LLC raised its stake in shares of Caterpillar Inc. (NYSE:CAT) by 279.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 17,335 shares of the industrial products company’s stock after purchasing an additional 12,765 shares during the period. Callan Family Office LLC’s holdings in Caterpillar were worth $6,730,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Valeo Financial Advisors LLC grew its holdings in Caterpillar by 36,842.1% during the second 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 purchasing an additional 7,279,991 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Caterpillar by 6.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,204,445 shares of the industrial products company’s stock valued at $1,386,626,000 after acquiring an additional 264,054 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Caterpillar by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company’s stock valued at $1,089,798,000 after acquiring an additional 15,347 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Caterpillar by 9.1% in the first 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 acquiring an additional 268,300 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Caterpillar by 5.0% in the first quarter. Invesco Ltd. now owns 3,141,936 shares of the industrial products company’s stock valued at $1,036,211,000 after acquiring an additional 150,533 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Melius upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price objective on the stock in a research report on Wednesday, July 9th. Weiss Ratings restated a “buy (b-)” rating on shares of Caterpillar in a research report on Saturday, September 27th. Robert W. Baird boosted their price objective on Caterpillar from $495.00 to $540.00 and gave the company an “outperform” rating in a research report on Wednesday, September 17th. Bank of America boosted their price objective on Caterpillar from $495.00 to $517.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Finally, Jefferies Financial Group boosted their target price on Caterpillar from $500.00 to $570.00 and gave the stock a “buy” rating in a research report on Wednesday. Two 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $478.20.

Insiders Place Their Bets

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the sale, the insider directly owned 8,632 shares of the company’s stock, valued at $3,605,586.40. The trade was a 20.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Susan C. Schwab sold 2,324 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the sale, the director directly owned 6,917 shares in the company, valued at $2,835,970. The trade was a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,819 shares of company stock valued at $16,885,492 over the last ninety days. 0.33% of the stock is owned by insiders.

Caterpillar Price Performance

NYSE:CAT opened at $500.10 on Friday. The business’s 50-day moving average is $441.97 and its 200 day moving average is $382.85. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $509.48. The company has a market capitalization of $234.29 billion, a P/E ratio of 25.44, a P/E/G ratio of 3.05 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 for the quarter, missing the consensus estimate of $4.88 by ($0.16). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.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 previous year, the firm earned $5.99 earnings per share. The company’s revenue was down .7% compared to the same quarter last year. On average, equities research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders 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 yield of 1.2%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s payout ratio is presently 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.