Somerville Kurt F Sells 50 Shares of Caterpillar Inc. $CAT

Somerville Kurt F reduced its position in Caterpillar Inc. (NYSE:CAT) by 1.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,665 shares of the industrial products company’s stock after selling 50 shares during the quarter. Somerville Kurt F’s holdings in Caterpillar were worth $1,035,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Family Legacy Financial Solutions LLC bought a new position in Caterpillar in the second quarter worth about $32,000. Compass Financial Services Inc raised its holdings in Caterpillar by 49.2% in the first 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. Redmont Wealth Advisors LLC bought a new position in Caterpillar in the first quarter worth about $33,000. Maseco LLP bought a new position in Caterpillar in the second quarter worth about $45,000. Finally, Park Place Capital Corp raised its holdings in Caterpillar by 47.6% in the second quarter. Park Place Capital Corp now owns 124 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 40 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Chairman Donald J. Umpleby III sold 17,166 shares of the stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $462.65, for a total transaction of $7,941,849.90. Following the transaction, the chairman owned 465,339 shares in the company, valued at $215,289,088.35. This trade represents a 3.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Susan C. Schwab sold 2,324 shares of the stock in a transaction that occurred 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 transaction, the director owned 6,917 shares in the company, valued at $2,835,970. This trade represents a 25.15% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,819 shares of company stock worth $16,885,492. Corporate insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

CAT has been the subject of a number of recent research reports. Erste Group Bank upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Oppenheimer upped their price objective on shares of Caterpillar from $480.00 to $513.00 and gave the company an “outperform” rating in a report on Monday, September 29th. JPMorgan Chase & Co. upped their price objective on shares of Caterpillar from $475.00 to $520.00 and gave the company an “overweight” rating in a report on Wednesday, August 6th. Evercore ISI upgraded shares of Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price target on the stock in a report on Tuesday, August 19th. Finally, Truist Financial increased their price target on shares of Caterpillar from $414.00 to $507.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $466.53.

Caterpillar Trading Down 1.7%

Caterpillar stock opened at $486.86 on Wednesday. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $505.59. The stock’s 50 day simple moving average is $439.39 and its two-hundred day simple moving average is $380.92. The firm has a market cap of $228.09 billion, a PE ratio of 24.76, a P/E/G ratio of 3.01 and a beta of 1.46.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing the consensus estimate of $4.88 by ($0.16). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The company had revenue of $16.57 billion during the quarter, compared to analysts’ expectations of $16.14 billion. During the same quarter in the prior year, the company posted $5.99 EPS. The company’s revenue for the quarter was down .7% on a year-over-year basis. Analysts anticipate 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 given a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.2%. The ex-dividend date is Monday, October 20th. Caterpillar’s dividend payout ratio is currently 30.72%.

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.