Cwm LLC Lowers Position in Caterpillar Inc. $CAT

Cwm LLC lessened its stake in Caterpillar Inc. (NYSE:CAT) by 0.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 90,633 shares of the industrial products company’s stock after selling 63 shares during the quarter. Cwm LLC’s holdings in Caterpillar were worth $35,185,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Family Legacy Financial Solutions LLC bought a new stake in Caterpillar in the second quarter worth $32,000. Compass Financial Services Inc increased its position in Caterpillar by 49.2% in the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 31 shares during the last quarter. Redmont Wealth Advisors LLC bought a new stake in Caterpillar in the first quarter worth $33,000. Maseco LLP bought a new stake in Caterpillar in the second quarter worth $45,000. Finally, Richardson Financial Services Inc. increased its position in Caterpillar by 109.1% in the second quarter. Richardson Financial Services Inc. now owns 115 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 60 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Down 1.7%

Shares of CAT opened at $491.67 on Monday. The firm has a market capitalization of $230.34 billion, a P/E ratio of 25.01, a P/E/G ratio of 3.01 and a beta of 1.46. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $511.50. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. The firm has a fifty day moving average price of $443.23 and a 200-day moving average price of $384.49.

Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.88 by ($0.16). The company had revenue of $16.57 billion for 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 firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.99 earnings per share. Equities research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s payout ratio is currently 30.72%.

Insider Activity

In other news, Chairman Donald J. Umpleby III sold 17,166 shares of the business’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $462.65, for a total transaction of $7,941,849.90. Following the completion of the sale, the chairman directly owned 465,339 shares of the company’s stock, valued at approximately $215,289,088.35. The trade was a 3.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Susan C. Schwab sold 2,324 shares of the company’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the sale, the director directly owned 6,917 shares of the company’s stock, valued at approximately $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,819 shares of company stock valued at $16,885,492. 0.33% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Truist Financial boosted their price target on shares of Caterpillar from $507.00 to $582.00 and gave the stock a “buy” rating in a research report on Wednesday. Oppenheimer boosted their price objective on shares of Caterpillar from $480.00 to $513.00 and gave the company an “outperform” rating in a research report on Monday, September 29th. Melius upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price objective on the stock in a research report on Wednesday, July 9th. Barclays boosted their price objective on shares of Caterpillar from $383.00 to $425.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 6th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Caterpillar in a research report on Saturday, September 27th. Two equities 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 stock. According to data from MarketBeat, Caterpillar presently has an average rating of “Moderate Buy” and an average price target of $478.20.

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.