Joel Isaacson & Co. LLC Acquires 1,300 Shares of Caterpillar Inc. $CAT

Joel Isaacson & Co. LLC boosted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 46.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,076 shares of the industrial products company’s stock after buying an additional 1,300 shares during the period. Joel Isaacson & Co. LLC’s holdings in Caterpillar were worth $1,945,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new position in Caterpillar during the second quarter valued at $2,165,899,000. Groupe la Francaise lifted its stake in Caterpillar by 82.0% in the 2nd quarter. Groupe la Francaise now owns 27,246 shares of the industrial products company’s stock valued at $10,820,000 after buying an additional 12,278 shares in the last quarter. Trivium Point Advisory LLC boosted its holdings in Caterpillar by 132.9% in the 2nd quarter. Trivium Point Advisory LLC now owns 1,926 shares of the industrial products company’s stock worth $748,000 after buying an additional 1,099 shares during the last quarter. Union Bancaire Privee UBP SA increased its stake in Caterpillar by 155.9% during the 3rd quarter. Union Bancaire Privee UBP SA now owns 47,231 shares of the industrial products company’s stock worth $21,014,000 after buying an additional 28,773 shares in the last quarter. Finally, Palmer Knight Co acquired a new position in shares of Caterpillar during the second quarter valued at approximately $5,884,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Barclays increased their price objective on Caterpillar from $485.00 to $555.00 and gave the company an “equal weight” rating in a research note on Thursday, October 30th. Wells Fargo & Company started coverage on shares of Caterpillar in a research report on Thursday, November 13th. They set an “overweight” rating and a $675.00 price target on the stock. HSBC upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and increased their price objective for the company from $405.00 to $660.00 in a report on Wednesday, November 5th. DA Davidson upped their price target on Caterpillar from $408.00 to $569.00 and gave the company a “neutral” rating in a research report on Monday, November 3rd. Finally, Bank of America lifted their price objective on Caterpillar from $650.00 to $708.00 and gave the stock a “buy” rating in a research report on Wednesday, January 14th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Caterpillar currently has an average rating of “Moderate Buy” and an average price target of $625.85.

Insider Transactions at Caterpillar

In related news, insider Anthony D. Fassino sold 8,184 shares of Caterpillar stock in a transaction on Monday, November 10th. The stock was sold at an average price of $570.18, for a total value of $4,666,353.12. Following the completion of the transaction, the insider directly owned 41,512 shares in the company, valued at approximately $23,669,312.16. This trade represents a 16.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO William E. Schaupp sold 1,200 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were 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 approximately $757,047.06. This trade represents a 47.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 54,729 shares of company stock valued at $31,084,308 in the last 90 days. Insiders own 0.33% of the company’s stock.

Caterpillar Stock Down 2.8%

Shares of NYSE CAT opened at $628.61 on Wednesday. The business’s 50 day moving average is $589.63 and its two-hundred day moving average is $506.98. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $655.68. The company has a quick ratio of 0.86, a current ratio of 1.38 and a debt-to-equity ratio of 1.34. The firm has a market cap of $294.18 billion, a price-to-earnings ratio of 32.27, a PEG ratio of 2.50 and a beta of 1.57.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Monday, November 3rd. The industrial products company reported $4.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.52 by $0.43. The company had revenue of $17.64 billion for the quarter, compared to analyst estimates of $16.72 billion. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.17 earnings per share. Research analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Tuesday, January 20th will be given a dividend of $1.51 per share. The ex-dividend date of this dividend is Tuesday, January 20th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.0%. Caterpillar’s dividend payout ratio is currently 31.01%.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.