Opinicus Capital Inc. Increases Stock Holdings in Caterpillar Inc. $CAT

Opinicus Capital Inc. increased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 162.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,663 shares of the industrial products company’s stock after buying an additional 1,030 shares during the quarter. Opinicus Capital Inc.’s holdings in Caterpillar were worth $645,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CAT. Aire Advisors LLC boosted its holdings in shares of Caterpillar by 0.3% in 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 last quarter. Dumont & Blake Investment Advisors LLC boosted its holdings in Caterpillar by 0.5% in the second quarter. Dumont & Blake Investment Advisors LLC now owns 4,954 shares of the industrial products company’s stock valued at $1,923,000 after acquiring an additional 25 shares during the last quarter. Redwood Wealth Management Group LLC grew its position in Caterpillar by 0.9% during the second quarter. Redwood Wealth Management Group LLC now owns 2,669 shares of the industrial products company’s stock valued at $1,036,000 after acquiring an additional 25 shares during the period. Tsfg LLC increased its stake in Caterpillar by 9.8% during the second quarter. Tsfg LLC now owns 279 shares of the industrial products company’s stock worth $108,000 after acquiring an additional 25 shares during the last quarter. Finally, GSB Wealth Management LLC raised its holdings in shares of Caterpillar by 1.2% in the 2nd quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company’s stock worth $832,000 after purchasing 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 $552.74 on Friday. The firm has a 50-day moving average of $506.27 and a two-hundred day moving average of $426.95. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.38 and a quick ratio of 0.81. The stock has a market cap of $258.67 billion, a P/E ratio of 28.37, a PEG ratio of 3.33 and a beta of 1.51. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $596.21.

Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, October 29th. 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 business had revenue of $17.64 billion for the quarter, compared to analyst estimates of $16.72 billion. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the previous year, the company earned $5.17 earnings per share. On average, research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CAT. HSBC raised shares of Caterpillar from a “hold” rating to a “buy” rating and increased their target price for the stock from $405.00 to $660.00 in a research report on Wednesday, November 5th. Morgan Stanley lifted their target price on shares of Caterpillar from $350.00 to $380.00 and gave the company an “underweight” rating in a report on Thursday, October 30th. Truist Financial reaffirmed a “buy” rating and set a $729.00 price target (up from $582.00) on shares of Caterpillar in a research report on Thursday, October 30th. Barclays raised their price objective on Caterpillar from $485.00 to $555.00 and gave the company an “equal weight” rating in a research report on Thursday, October 30th. Finally, Oppenheimer upped 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. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Caterpillar currently has a consensus rating of “Moderate Buy” and a consensus price target of $600.94.

Insiders Place Their Bets

In related news, Director David Maclennan purchased 300 shares of Caterpillar stock in a transaction dated Thursday, November 6th. The shares were acquired at an average price of $568.86 per share, with a total value of $170,658.00. Following the completion of the transaction, the director owned 7,947 shares of the company’s stock, valued at approximately $4,520,730.42. This trade represents a 3.92% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anthony D. Fassino sold 8,184 shares of the business’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $570.18, for a total value of $4,666,353.12. Following the completion of the sale, the insider directly owned 41,512 shares of the company’s stock, valued at approximately $23,669,312.16. This represents a 16.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 86,229 shares of company stock valued at $43,323,118. 0.33% of the stock is owned by insiders.

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.