Caterpillar Inc. $CAT Shares Acquired by Jag Capital Management LLC

Jag Capital Management LLC lifted its position in shares of Caterpillar Inc. (NYSE:CAT) by 38.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,079 shares of the industrial products company’s stock after acquiring an additional 297 shares during the period. Jag Capital Management LLC’s holdings in Caterpillar were worth $419,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. GSB Wealth Management LLC raised its stake in Caterpillar by 1.2% during the second quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company’s stock worth $832,000 after acquiring an additional 26 shares during the period. Verum Partners LLC raised its position in shares of Caterpillar by 2.5% during the 2nd quarter. Verum Partners LLC now owns 1,059 shares of the industrial products company’s stock worth $411,000 after purchasing an additional 26 shares during the period. Vanguard Capital Wealth Advisors raised its position in shares of Caterpillar by 0.8% during the 2nd quarter. Vanguard Capital Wealth Advisors now owns 3,575 shares of the industrial products company’s stock worth $1,388,000 after purchasing an additional 27 shares during the period. InTrack Investment Management Inc raised its position in shares of Caterpillar by 0.6% during the 2nd quarter. InTrack Investment Management Inc now owns 4,683 shares of the industrial products company’s stock worth $1,818,000 after purchasing an additional 27 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in Caterpillar by 2.4% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,216 shares of the industrial products company’s stock worth $472,000 after buying an additional 29 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Price Performance

NYSE CAT opened at $505.11 on Tuesday. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $511.50. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. The firm has a market capitalization of $236.64 billion, a PE ratio of 25.69, a P/E/G ratio of 3.01 and a beta of 1.46. The company’s 50 day simple moving average is $444.65 and its 200 day simple moving average is $385.71.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $16.14 billion. During the same quarter in the prior year, the business earned $5.99 EPS. Caterpillar’s revenue was down .7% compared to the same quarter last year. As a group, equities research analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis 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%.

Analysts Set New Price Targets

Several brokerages have weighed in on CAT. Evercore ISI raised Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 target price on the stock in a research report on Tuesday, August 19th. Jefferies Financial Group increased their price objective on shares of Caterpillar from $500.00 to $570.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. DA Davidson raised their price target on shares of Caterpillar from $331.00 to $388.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Truist Financial raised their price target on shares of Caterpillar from $507.00 to $582.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. raised their target price on Caterpillar from $475.00 to $520.00 and gave the company an “overweight” rating in a research report on Wednesday, August 6th. 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. According to data from MarketBeat, Caterpillar presently has an average rating of “Moderate Buy” and a consensus target price of $488.13.

Insider Buying and Selling

In related news, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Donald J. Umpleby III sold 17,168 shares of Caterpillar 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 in the company, valued at $199,211,839.35. This represents a 3.44% 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 over the last three months. Company insiders own 0.33% of the company’s stock.

Caterpillar Company 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.