Caterpillar Inc. $CAT Stock Position Lifted by Fusion Capital LLC

Fusion Capital LLC boosted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 2.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 23,998 shares of the industrial products company’s stock after buying an additional 666 shares during the quarter. Caterpillar accounts for 3.2% of Fusion Capital LLC’s portfolio, making the stock its 10th biggest position. Fusion Capital LLC’s holdings in Caterpillar were worth $9,316,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of CAT. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Caterpillar during the second quarter valued at approximately $28,000. Family Legacy Financial Solutions LLC bought a new stake in Caterpillar during the 2nd quarter valued at $32,000. Harbor Asset Planning Inc. purchased a new stake in Caterpillar during the 2nd quarter valued at $34,000. Compass Financial Services Inc grew its holdings in Caterpillar by 49.2% in the 1st 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. Finally, Maseco LLP purchased a new position in shares of Caterpillar in the second quarter valued at about $45,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Hsbc Global Res raised Caterpillar from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. UBS Group increased their price objective on Caterpillar from $506.00 to $581.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. Bank of America upped their target price on Caterpillar from $594.00 to $650.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Erste Group Bank upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Finally, Truist Financial restated a “buy” rating and issued a $729.00 price objective (up from $582.00) on shares of Caterpillar in a report on Thursday, October 30th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Caterpillar currently has an average rating of “Moderate Buy” and a consensus target price of $600.94.

Caterpillar Stock Down 0.1%

NYSE:CAT opened at $552.74 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.38 and a quick ratio of 0.81. The firm’s 50-day moving average price is $506.27 and its 200-day moving average price is $426.95. The company has a market capitalization of $258.67 billion, a PE ratio of 28.37, a P/E/G ratio of 3.33 and a beta of 1.51. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $596.21.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $4.95 EPS for the quarter, topping the consensus estimate of $4.52 by $0.43. The business had revenue of $17.64 billion for the quarter, compared to analyst estimates 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 previous year, the firm posted $5.17 earnings per share. On average, equities analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be paid a dividend of $1.51 per share. 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 (DPR) is currently 31.01%.

Insider Buying and Selling

In related news, insider Jason Kaiser sold 10,707 shares of Caterpillar stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $563.60, for a total value of $6,034,465.20. Following the completion of the sale, the insider directly owned 8,649 shares in the company, valued at approximately $4,874,576.40. This trade represents a 55.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO William E. Schaupp sold 1,200 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $572.22, for a total transaction of $686,664.00. Following the sale, the chief accounting officer owned 1,323 shares of the company’s stock, valued at approximately $757,047.06. This represents a 47.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 86,229 shares of company stock worth $43,323,118 in the last three months. 0.33% of the stock is currently owned by company insiders.

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.