Empowered Funds LLC Acquires 18,436 Shares of Caterpillar Inc. $CAT

Empowered Funds LLC increased its holdings in Caterpillar Inc. (NYSE:CAT) by 32.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 75,933 shares of the industrial products company’s stock after purchasing an additional 18,436 shares during the quarter. Empowered Funds LLC’s holdings in Caterpillar were worth $29,478,000 at the end of the most recent reporting period.

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

Caterpillar Stock Performance

Shares of Caterpillar stock opened at $550.87 on Tuesday. The business has a 50-day simple moving average of $508.83 and a 200 day simple moving average of $430.29. Caterpillar Inc. has a one year low of $267.30 and a one year high of $596.21. 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 has a market capitalization of $257.80 billion, a price-to-earnings ratio of 28.28, a PEG ratio of 3.33 and a beta of 1.51.

Caterpillar (NYSE:CAT) last announced 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 firm had revenue of $17.64 billion during the quarter, compared to analysts’ expectations of $16.72 billion. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter last year, the firm posted $5.17 earnings per share. On average, research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be given a dividend of $1.51 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $6.04 annualized dividend and a dividend yield of 1.1%. Caterpillar’s dividend payout ratio (DPR) is currently 31.01%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CAT shares. DA Davidson increased their price objective on shares of Caterpillar from $408.00 to $569.00 and gave the stock a “neutral” rating in a research report on Monday, November 3rd. Morgan Stanley increased their price target on Caterpillar from $350.00 to $380.00 and gave the stock an “underweight” rating in a report on Thursday, October 30th. Sanford C. Bernstein reissued a “market perform” rating on shares of Caterpillar in a research note on Wednesday, November 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Caterpillar in a research note on Tuesday, November 11th. Finally, Hsbc Global Res raised Caterpillar from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Three 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, Caterpillar has a consensus rating of “Moderate Buy” and an average target price of $600.94.

Insider Activity at Caterpillar

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