Intech Investment Management LLC Sells 51,385 Shares of Caterpillar Inc. $CAT

Intech Investment Management LLC decreased its stake in Caterpillar Inc. (NYSE:CAT) by 32.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 107,304 shares of the industrial products company’s stock after selling 51,385 shares during the period. Intech Investment Management LLC’s holdings in Caterpillar were worth $41,656,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Mid American Wealth Advisory Group Inc. purchased a new stake in Caterpillar during the second quarter valued at about $28,000. Family Legacy Financial Solutions LLC bought a new position in shares of Caterpillar during the 2nd quarter valued at about $32,000. Harbor Asset Planning Inc. purchased a new position in shares of Caterpillar during the 2nd quarter valued at about $34,000. Compass Financial Services Inc lifted its position 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 buying an additional 31 shares during the last quarter. Finally, Maseco LLP purchased a new stake in Caterpillar in the second quarter worth approximately $45,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Caterpillar news, Chairman Donald J. Umpleby III sold 17,168 shares of the firm’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 transaction, the chairman owned 482,505 shares of the company’s stock, valued at approximately $199,211,839.35. This trade represents a 3.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO William E. Schaupp sold 1,200 shares of the company’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $572.22, for a total transaction of $686,664.00. Following the completion of the sale, the chief accounting officer directly owned 1,323 shares in the company, valued at $757,047.06. This represents a 47.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 86,229 shares of company stock valued at $43,323,118 over the last quarter. 0.33% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CAT has been the topic of several research reports. UBS Group lifted their price target on shares of Caterpillar from $506.00 to $581.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 4th. DA Davidson boosted their price target 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. Robert W. Baird raised their price objective on Caterpillar from $612.00 to $680.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Erste Group Bank upgraded Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Finally, Truist Financial reaffirmed a “buy” rating and issued a $729.00 price target (up from $582.00) on shares of Caterpillar in a research note on Thursday, October 30th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $600.94.

Caterpillar Trading Down 0.1%

NYSE CAT opened at $552.74 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.81 and a current ratio of 1.38. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $596.21. The stock has a market cap of $258.67 billion, a P/E ratio of 28.37, a price-to-earnings-growth ratio of 3.33 and a beta of 1.51. The stock has a 50 day simple moving average of $506.27 and a two-hundred day simple moving average of $426.95.

Caterpillar (NYSE:CAT) last announced its earnings results 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 company had revenue of $17.64 billion during the quarter, compared to the consensus estimate of $16.72 billion. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.17 earnings per share. On average, analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

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

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.