Caterpillar Inc. $CAT Stock Holdings Lowered by Malaga Cove Capital LLC

Malaga Cove Capital LLC trimmed its holdings in Caterpillar Inc. (NYSE:CAT) by 1.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,314 shares of the industrial products company’s stock after selling 251 shares during the quarter. Caterpillar accounts for approximately 2.2% of Malaga Cove Capital LLC’s investment portfolio, making the stock its 8th biggest holding. Malaga Cove Capital LLC’s holdings in Caterpillar were worth $5,557,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Caterpillar in the second quarter worth about $28,000. Compass Financial Services Inc increased its holdings in shares of Caterpillar by 49.2% during the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 31 shares in the last quarter. Family Legacy Financial Solutions LLC acquired a new position in shares of Caterpillar in the 2nd quarter valued at $32,000. Harbor Asset Planning Inc. purchased a new stake in Caterpillar during the second quarter worth $34,000. Finally, Total Wealth Planning & Management Inc. acquired a new position in shares of Caterpillar in the second quarter worth about $38,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Truist Financial reaffirmed a “buy” rating and issued a $729.00 price target (up previously from $582.00) on shares of Caterpillar in a report on Thursday, October 30th. Robert W. Baird upped their target price on Caterpillar from $612.00 to $680.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Royal Bank Of Canada assumed coverage on shares of Caterpillar in a report on Wednesday, October 22nd. They issued a “sector perform” rating and a $560.00 price target for the company. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Caterpillar in a report on Wednesday. Finally, Hsbc Global Res raised shares of Caterpillar from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Three research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Caterpillar presently has an average rating of “Moderate Buy” and an average price target of $588.94.

Caterpillar Price Performance

Shares of NYSE CAT opened at $569.51 on Friday. The firm has a 50-day simple moving average of $488.91 and a 200-day simple moving average of $415.91. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $266.80 billion, a price-to-earnings ratio of 29.24, a price-to-earnings-growth ratio of 3.33 and a beta of 1.51. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $596.21.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $4.95 EPS for the quarter, beating analysts’ consensus estimates of $4.52 by $0.43. The company had revenue of $17.64 billion during the quarter, compared to the consensus estimate of $16.72 billion. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. Caterpillar’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.17 EPS. On average, equities analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be issued a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, October 20th. Caterpillar’s dividend payout ratio is presently 31.01%.

Insiders Place Their Bets

In other news, insider Jason Kaiser sold 2,161 shares of the business’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the transaction, the insider owned 8,632 shares of the company’s stock, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David Maclennan acquired 300 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The stock was purchased at an average cost of $568.86 per share, with a total value of $170,658.00. Following the acquisition, the director directly owned 7,947 shares of the company’s stock, valued at $4,520,730.42. This trade represents a 3.92% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders sold 57,185 shares of company stock worth $26,245,964. 0.33% of the stock is currently owned by company insiders.

About Caterpillar

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.