Midland Wealth Advisors LLC Has $1.52 Million Stake in Caterpillar Inc. $CAT

Midland Wealth Advisors LLC reduced its position in Caterpillar Inc. (NYSE:CAT) by 6.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,905 shares of the industrial products company’s stock after selling 268 shares during the period. Midland Wealth Advisors LLC’s holdings in Caterpillar were worth $1,516,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Caterpillar during the second quarter valued at about $28,000. Family Legacy Financial Solutions LLC bought a new position in Caterpillar in the 2nd quarter valued at about $32,000. Harbor Asset Planning Inc. acquired a new position in Caterpillar during the 2nd quarter valued at about $34,000. Compass Financial Services Inc increased 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 in the last quarter. Finally, Maseco LLP purchased a new stake in shares of Caterpillar in the second quarter worth approximately $45,000. Institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

CAT opened at $562.82 on Monday. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $596.21. The firm has a 50-day moving average of $491.77 and a 200 day moving average of $419.59. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.81 and a current ratio of 1.38. The firm has a market cap of $263.39 billion, a P/E ratio of 28.89, 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, topping the consensus estimate of $4.52 by $0.43. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The business had revenue of $17.64 billion for the quarter, compared to analyst estimates of $16.72 billion. During the same quarter in the previous year, the firm posted $5.17 earnings per share. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, research analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

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

Wall Street Analyst Weigh In

CAT has been the topic of several analyst reports. Robert W. Baird lifted their target price on Caterpillar from $612.00 to $680.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Truist Financial restated a “buy” rating and set a $729.00 price objective (up from $582.00) on shares of Caterpillar in a research note on Thursday, October 30th. Hsbc Global Res upgraded shares of Caterpillar from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Erste Group Bank upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Finally, 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 report on Monday, November 3rd. Three research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Caterpillar currently has an average rating of “Moderate Buy” and a consensus target price of $596.59.

Insider Buying and Selling at Caterpillar

In other news, CAO William E. Schaupp sold 1,200 shares of the stock in a transaction on 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 transaction, the chief accounting officer owned 1,323 shares in the company, valued at approximately $757,047.06. This represents a 47.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of the business’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $410.00, for a total value of $952,840.00. Following the completion of the sale, the director owned 6,917 shares in the company, valued at $2,835,970. This represents a 25.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 69,662 shares of company stock valued at $33,575,140 in the last quarter. Insiders own 0.33% of the company’s stock.

About Caterpillar

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.