Evelyn Partners Investment Management LLP Boosts Stock Position in Caterpillar Inc. $CAT

Evelyn Partners Investment Management LLP grew its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 36.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,158 shares of the industrial products company’s stock after purchasing an additional 2,172 shares during the quarter. Evelyn Partners Investment Management LLP’s holdings in Caterpillar were worth $3,167,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CAT. AXQ Capital LP boosted its stake in Caterpillar by 55.8% in the second quarter. AXQ Capital LP now owns 1,560 shares of the industrial products company’s stock valued at $606,000 after acquiring an additional 559 shares during the last quarter. Journey Strategic Wealth LLC grew its holdings in Caterpillar by 41.5% during the second quarter. Journey Strategic Wealth LLC now owns 5,148 shares of the industrial products company’s stock valued at $1,999,000 after purchasing an additional 1,509 shares during the period. CFC Planning Co LLC raised its stake in shares of Caterpillar by 15.1% in the second quarter. CFC Planning Co LLC now owns 5,982 shares of the industrial products company’s stock valued at $2,322,000 after buying an additional 784 shares during the period. Mediolanum International Funds Ltd lifted its position in shares of Caterpillar by 0.3% during the 2nd quarter. Mediolanum International Funds Ltd now owns 90,255 shares of the industrial products company’s stock valued at $34,722,000 after buying an additional 274 shares during the last quarter. Finally, Brandywine Global Investment Management LLC increased its holdings in Caterpillar by 4.5% in the 2nd quarter. Brandywine Global Investment Management LLC now owns 624,360 shares of the industrial products company’s stock worth $242,383,000 after acquiring an additional 27,111 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on CAT. HSBC upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and lifted their target price for the stock from $405.00 to $660.00 in a research note on Wednesday, November 5th. Royal Bank Of Canada initiated coverage on shares of Caterpillar in a report on Wednesday, October 22nd. They set a “sector perform” rating and a $560.00 target price on the stock. Wells Fargo & Company initiated coverage on Caterpillar in a report on Thursday, November 13th. They issued an “overweight” rating and a $675.00 price target for the company. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Caterpillar in a report on Wednesday, November 5th. Finally, Evercore ISI boosted their price objective on shares of Caterpillar from $476.00 to $630.00 and gave the company an “outperform” rating in a research note on Monday, November 17th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $610.32.

Caterpillar Stock Up 0.8%

CAT stock opened at $550.74 on Friday. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $596.21. The stock has a market cap of $257.74 billion, a price-to-earnings ratio of 28.27, a price-to-earnings-growth ratio of 3.33 and a beta of 1.51. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 1.34. The company’s 50 day moving average is $518.69 and its 200 day moving average is $435.07.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $4.95 EPS for the quarter, topping analysts’ consensus estimates of $4.52 by $0.43. The business had revenue of $17.64 billion during the quarter, compared to analysts’ expectations of $16.72 billion. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.17 EPS. Sell-side analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, October 20th were given a dividend of $1.51 per share. The ex-dividend date was Monday, October 20th. This represents a $6.04 annualized dividend and a dividend yield of 1.1%. Caterpillar’s dividend payout ratio is 31.01%.

Insider Buying and Selling at Caterpillar

In related news, insider Lange Bob De sold 14,638 shares of the stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $562.36, for a total transaction of $8,231,825.68. Following the transaction, the insider owned 80,209 shares of the company’s stock, valued at approximately $45,106,333.24. This trade represents a 15.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the business’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the completion of the sale, the chairman directly owned 482,505 shares of the company’s stock, valued at $199,211,839.35. This represents a 3.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 86,229 shares of company stock valued at $43,323,118. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Company 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.