Caterpillar Inc. $CAT Shares Acquired by Fulton Breakefield Broenniman LLC

Fulton Breakefield Broenniman LLC raised its stake in shares of Caterpillar Inc. (NYSE:CAT) by 5.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,947 shares of the industrial products company’s stock after purchasing an additional 93 shares during the quarter. Fulton Breakefield Broenniman LLC’s holdings in Caterpillar were worth $756,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Family Legacy Financial Solutions LLC acquired a new position in Caterpillar during the 2nd quarter valued at approximately $32,000. Compass Financial Services Inc boosted its holdings in shares of Caterpillar by 49.2% in the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 31 shares during the last quarter. Redmont Wealth Advisors LLC purchased a new stake in shares of Caterpillar in the 1st quarter valued at $33,000. Maseco LLP purchased a new stake in shares of Caterpillar in the 2nd quarter valued at $45,000. Finally, Park Place Capital Corp boosted its holdings in shares of Caterpillar by 47.6% in the 2nd quarter. Park Place Capital Corp now owns 124 shares of the industrial products company’s stock valued at $48,000 after acquiring an additional 40 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CAT. Jefferies Financial Group reaffirmed a “buy” rating and issued a $500.00 price objective on shares of Caterpillar in a report on Friday, August 29th. Evercore ISI raised shares of Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price objective on the stock in a report on Tuesday, August 19th. Citigroup increased their price target on shares of Caterpillar from $540.00 to $570.00 and gave the stock a “buy” rating in a report on Tuesday. Sanford C. Bernstein reissued a “market perform” rating on shares of Caterpillar in a report on Monday, July 14th. Finally, Truist Financial increased their price target on shares of Caterpillar from $507.00 to $582.00 and gave the stock a “buy” rating in a report on Wednesday. Two investment 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’s stock. According to MarketBeat, Caterpillar has an average rating of “Moderate Buy” and an average target price of $473.53.

Insiders Place Their Bets

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of the firm’s 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 owned 6,917 shares of the company’s stock, valued at approximately $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Donald J. Umpleby III sold 17,166 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $462.65, for a total transaction of $7,941,849.90. Following the sale, the chairman directly owned 465,339 shares in the company, valued at approximately $215,289,088.35. The trade was a 3.56% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,819 shares of company stock valued at $16,885,492. 0.33% of the stock is owned by corporate insiders.

Caterpillar Price Performance

Shares of NYSE CAT opened at $502.08 on Thursday. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $509.48. The stock has a market capitalization of $235.21 billion, a price-to-earnings ratio of 25.54, a price-to-earnings-growth ratio of 2.96 and a beta of 1.46. The firm has a 50-day simple moving average of $440.73 and a 200-day simple moving average of $381.76. 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 (NYSE:CAT) last released its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) 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 firm had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. During the same quarter in the previous year, the business posted $5.99 earnings per share. Caterpillar’s revenue for the quarter was down .7% on a year-over-year basis. On average, equities analysts predict 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 issued a dividend of $1.51 per share. 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 (DPR) 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.