Caterpillar Inc. $CAT Shares Bought by Gilliland Jeter Wealth Management LLC

Gilliland Jeter Wealth Management LLC increased its holdings in Caterpillar Inc. (NYSE:CAT) by 0.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 12,819 shares of the industrial products company’s stock after buying an additional 40 shares during the period. Caterpillar accounts for about 1.6% of Gilliland Jeter Wealth Management LLC’s portfolio, making the stock its 11th biggest position. Gilliland Jeter Wealth Management LLC’s holdings in Caterpillar were worth $4,976,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Valeo Financial Advisors LLC grew its stake in shares of 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 worth $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 grew its stake in shares of Caterpillar by 6.7% during the 1st 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 worth $1,386,626,000 after purchasing an additional 264,054 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Caterpillar by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company’s stock worth $1,089,798,000 after purchasing an additional 15,347 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of 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 worth $1,064,951,000 after purchasing an additional 268,300 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Caterpillar by 5.0% during the 1st quarter. Invesco Ltd. now owns 3,141,936 shares of the industrial products company’s stock worth $1,036,211,000 after purchasing an additional 150,533 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Trading Down 0.4%

Shares of CAT stock opened at $500.10 on Friday. The stock’s fifty day moving average is $441.97 and its two-hundred day moving average is $382.85. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. The firm has a market capitalization of $234.29 billion, a P/E ratio of 25.44, a PEG ratio of 3.05 and a beta of 1.46. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $509.48.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 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 company had revenue of $16.57 billion for the quarter, compared to analysts’ expectations of $16.14 billion. During the same quarter in the prior year, the firm earned $5.99 EPS. The firm’s revenue was down .7% on a year-over-year basis. Research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal 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 issued 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 is Monday, October 20th. Caterpillar’s payout ratio is currently 30.72%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CAT. Weiss Ratings reiterated a “buy (b-)” rating on shares of Caterpillar in a research report on Saturday, September 27th. JPMorgan Chase & Co. increased 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. Truist Financial increased their target price on Caterpillar from $507.00 to $582.00 and gave the company a “buy” rating in a research report on Wednesday. Bank of America increased their target price on Caterpillar from $495.00 to $517.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Finally, Erste Group Bank upgraded Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Caterpillar has a consensus rating of “Moderate Buy” and an average price target of $478.20.

Insider Transactions at Caterpillar

In other news, Chairman Donald J. Umpleby III sold 17,168 shares of Caterpillar stock in a transaction 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 transaction, the chairman owned 482,505 shares in the company, valued at $199,211,839.35. The trade was a 3.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of Caterpillar stock in a transaction 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 transaction, the director owned 6,917 shares in the company, valued at approximately $2,835,970. This represents 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 worth $16,885,492 in the last quarter. Company insiders own 0.33% of the company’s stock.

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.