Great Diamond Partners LLC Purchases New Position in Caterpillar Inc. $CAT

Great Diamond Partners LLC acquired a new stake in Caterpillar Inc. (NYSE:CAT) in the second quarter, according to its most recent filing with the SEC. The fund acquired 930 shares of the industrial products company’s stock, valued at approximately $361,000.

Several other institutional investors have also recently made changes to their positions in the stock. Aire Advisors LLC raised its stake in shares of Caterpillar by 0.3% during the 2nd quarter. Aire Advisors LLC now owns 9,042 shares of the industrial products company’s stock valued at $3,510,000 after purchasing an additional 25 shares during the period. Dumont & Blake Investment Advisors LLC grew its holdings in Caterpillar by 0.5% during the 2nd quarter. Dumont & Blake Investment Advisors LLC now owns 4,954 shares of the industrial products company’s stock valued at $1,923,000 after buying an additional 25 shares in the last quarter. Redwood Wealth Management Group LLC grew its holdings in Caterpillar by 0.9% during the 2nd quarter. Redwood Wealth Management Group LLC now owns 2,669 shares of the industrial products company’s stock valued at $1,036,000 after buying an additional 25 shares in the last quarter. Tsfg LLC increased its position in shares of Caterpillar by 9.8% during the second quarter. Tsfg LLC now owns 279 shares of the industrial products company’s stock valued at $108,000 after buying an additional 25 shares during the period. Finally, GSB Wealth Management LLC boosted its position in shares of Caterpillar by 1.2% in the second quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company’s stock valued at $832,000 after acquiring an additional 26 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

NYSE:CAT opened at $598.89 on Friday. The company has a market capitalization of $280.27 billion, a price-to-earnings ratio of 30.74, a PEG ratio of 2.79 and a beta of 1.57. The business has a 50 day moving average of $539.70 and a 200 day moving average of $450.00. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.38 and a quick ratio of 0.86. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $602.72.

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

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Monday, October 20th were given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.0%. The ex-dividend date was Monday, October 20th. Caterpillar’s dividend payout ratio is presently 31.01%.

Insider Transactions at Caterpillar

In other Caterpillar news, insider Lange Bob De sold 14,638 shares of Caterpillar stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $562.36, for a total value of $8,231,825.68. Following the transaction, the insider directly owned 80,209 shares of the company’s stock, valued at $45,106,333.24. The trade was a 15.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jason Kaiser sold 10,707 shares of the stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $563.60, for a total value of $6,034,465.20. Following the sale, the insider directly owned 8,649 shares of the company’s stock, valued at approximately $4,874,576.40. This trade represents a 55.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 79,061 shares of company stock valued at $41,949,366. 0.33% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on CAT shares. DA Davidson increased their target price on shares of Caterpillar from $408.00 to $569.00 and gave the stock a “neutral” rating in a research note on Monday, November 3rd. Wells Fargo & Company assumed coverage on shares of Caterpillar in a report on Thursday, November 13th. They issued an “overweight” rating and a $675.00 price target on the stock. Oppenheimer boosted their target price on Caterpillar from $513.00 to $645.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Argus upped their target price on Caterpillar from $460.00 to $625.00 and gave the stock a “buy” rating in a research note on Wednesday, November 19th. Finally, JPMorgan Chase & Co. lifted their price target on Caterpillar from $650.00 to $730.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Three 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 assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $610.32.

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.