Caterpillar Inc. $CAT Shares Purchased by Solstein Capital LLC

Solstein Capital LLC boosted its holdings in Caterpillar Inc. (NYSE:CAT) by 2.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,324 shares of the industrial products company’s stock after purchasing an additional 110 shares during the quarter. Caterpillar makes up 0.8% of Solstein Capital LLC’s portfolio, making the stock its 26th biggest holding. Solstein Capital LLC’s holdings in Caterpillar were worth $1,679,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Mid American Wealth Advisory Group Inc. acquired a new stake in Caterpillar during the second quarter worth about $28,000. Compass Financial Services Inc increased its stake in Caterpillar by 49.2% during the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 31 shares during the last quarter. Family Legacy Financial Solutions LLC acquired a new stake in Caterpillar during the second quarter worth about $32,000. Redmont Wealth Advisors LLC acquired a new stake in Caterpillar during the first quarter worth about $33,000. Finally, Harbor Asset Planning Inc. acquired a new stake in Caterpillar during the second quarter worth about $34,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Trading Up 0.3%

Shares of CAT opened at $522.13 on Monday. The company has a market capitalization of $244.60 billion, a P/E ratio of 26.56, a P/E/G ratio of 2.98 and a beta of 1.46. Caterpillar Inc. has a one year low of $267.30 and a one year high of $544.99. 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 stock has a 50-day moving average price of $464.46 and a 200 day moving average price of $399.92.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results 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). The business had revenue of $16.57 billion during the quarter, compared to analysts’ expectations of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The company’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the prior year, the company posted $5.99 EPS. Sell-side analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be issued a $1.51 dividend. 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 is currently 30.72%.

Insider Activity at Caterpillar

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $410.00, for a total transaction of $952,840.00. Following the transaction, the director owned 6,917 shares of the company’s stock, valued at $2,835,970. This trade represents a 25.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total value of $7,088,152.16. Following the transaction, the chairman directly owned 482,505 shares in the company, valued at approximately $199,211,839.35. This represents a 3.44% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,985 shares of company stock valued at $25,559,300. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Truist Financial upped their price target on Caterpillar from $507.00 to $582.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Caterpillar in a research note on Tuesday, October 14th. Oppenheimer increased their target price on Caterpillar from $480.00 to $513.00 and gave the company an “outperform” rating in a research note on Monday, September 29th. Erste Group Bank upgraded Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Finally, Robert W. Baird increased their target price on Caterpillar from $540.00 to $612.00 in a research note on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $518.19.

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.