Noesis Capital Mangement Corp Lowers Stake in Caterpillar Inc. $CAT

Noesis Capital Mangement Corp lowered its stake in shares of Caterpillar Inc. (NYSE:CAT) by 1.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,880 shares of the industrial products company’s stock after selling 581 shares during the quarter. Caterpillar accounts for 2.8% of Noesis Capital Mangement Corp’s investment portfolio, making the stock its 12th biggest position. Noesis Capital Mangement Corp’s holdings in Caterpillar were worth $15,870,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in CAT. Pacific Point Advisors LLC bought a new stake in shares of Caterpillar in the 4th quarter worth approximately $579,000. Brighton Jones LLC lifted its holdings in shares of Caterpillar by 51.5% in the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock worth $2,688,000 after acquiring an additional 2,519 shares during the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of Caterpillar by 7.0% in the 1st quarter. Golden State Wealth Management LLC now owns 3,558 shares of the industrial products company’s stock worth $1,174,000 after acquiring an additional 232 shares during the last quarter. JNBA Financial Advisors lifted its holdings in shares of Caterpillar by 41.8% in the 1st quarter. JNBA Financial Advisors now owns 339 shares of the industrial products company’s stock worth $112,000 after acquiring an additional 100 shares during the last quarter. Finally, Clear Creek Financial Management LLC lifted its holdings in shares of Caterpillar by 11.4% in the 1st quarter. Clear Creek Financial Management LLC now owns 1,269 shares of the industrial products company’s stock worth $419,000 after acquiring an additional 130 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Up 11.9%

NYSE:CAT opened at $586.77 on Thursday. The company has a fifty day moving average of $472.25 and a 200 day moving average of $405.20. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $596.21. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $274.89 billion, a P/E ratio of 29.85, a P/E/G ratio of 2.99 and a beta of 1.46.

Caterpillar (NYSE:CAT) last posted its quarterly 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. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The company had revenue of $17.64 billion during the quarter, compared to analyst estimates of $16.72 billion. During the same period in the prior year, the business posted $5.17 EPS. The firm’s revenue was up 9.5% compared to the same quarter last year. On average, research analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be issued a $1.51 dividend. The ex-dividend date is Monday, October 20th. This represents a $6.04 annualized dividend and a yield of 1.0%. Caterpillar’s dividend payout ratio is 30.72%.

Insiders Place Their Bets

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of the company’s stock in a transaction on 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 transaction, the director directly owned 6,917 shares in the company, valued at approximately $2,835,970. This represents a 25.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the company’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 $199,211,839.35. This trade represents a 3.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 55,985 shares of company stock worth $25,559,300. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CAT has been the subject of a number of recent research reports. Robert W. Baird boosted their price objective on shares of Caterpillar from $540.00 to $612.00 in a report on Monday, October 20th. Citigroup boosted their price objective on shares of Caterpillar from $540.00 to $570.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. JPMorgan Chase & Co. boosted their price objective on shares of Caterpillar from $505.00 to $650.00 and gave the stock an “overweight” rating in a report on Tuesday, October 14th. Erste Group Bank upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Finally, Truist Financial upped their price target on shares of Caterpillar from $507.00 to $582.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $518.19.

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.