Vest Financial LLC grew its stake in shares of Caterpillar Inc. (NYSE:CAT – Free Report) by 34.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 190,846 shares of the industrial products company’s stock after acquiring an additional 49,076 shares during the period. Caterpillar comprises 1.0% of Vest Financial LLC’s investment portfolio, making the stock its 8th biggest position. Vest Financial LLC’s holdings in Caterpillar were worth $74,088,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Valeo Financial Advisors LLC grew its position in shares of Caterpillar by 36,842.1% during the 2nd quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock valued at $2,833,836,000 after acquiring an additional 7,279,991 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Caterpillar by 6.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,204,445 shares of the industrial products company’s stock worth $1,386,626,000 after buying an additional 264,054 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Caterpillar by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company’s stock worth $1,089,798,000 after buying an additional 15,347 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Caterpillar by 9.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company’s stock worth $1,064,951,000 after buying an additional 268,300 shares during the period. Finally, Invesco Ltd. boosted its holdings in Caterpillar by 5.0% in the 1st quarter. Invesco Ltd. now owns 3,141,936 shares of the industrial products company’s stock worth $1,036,211,000 after buying an additional 150,533 shares during the period. 70.98% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several research firms recently commented on CAT. DA Davidson raised their price objective on shares of Caterpillar from $331.00 to $388.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Barclays raised their price objective on shares of Caterpillar from $383.00 to $425.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. Melius raised shares of Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price objective for the company in a report on Wednesday, July 9th. Jefferies Financial Group raised their price objective on shares of Caterpillar from $500.00 to $570.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Finally, Evercore ISI raised shares of Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price target for the company in a report on Tuesday, August 19th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Caterpillar currently has an average rating of “Moderate Buy” and an average target price of $478.20.
Insider Activity
In other news, insider Jason Kaiser sold 2,161 shares of the firm’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the sale, the insider owned 8,632 shares in the company, valued at approximately $3,605,586.40. This trade represents a 20.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Susan C. Schwab sold 2,324 shares of the firm’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $410.00, for a total transaction of $952,840.00. Following the sale, the director owned 6,917 shares in the company, valued at approximately $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 quarter, insiders have sold 38,819 shares of company stock worth $16,885,492. 0.33% of the stock is currently owned by corporate insiders.
Caterpillar Stock Down 1.7%
Shares of NYSE:CAT opened at $491.67 on Monday. The firm has a fifty day moving average price of $443.23 and a two-hundred day moving average price of $384.49. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. Caterpillar Inc. has a one year low of $267.30 and a one year high of $511.50. The company has a market cap of $230.34 billion, a price-to-earnings ratio of 25.01, a PEG ratio of 3.01 and a beta of 1.46.
Caterpillar (NYSE:CAT – Get Free Report) last announced its quarterly earnings results 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). The firm had revenue of $16.57 billion during the quarter, compared to the consensus estimate of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The firm’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the previous year, the business earned $5.99 earnings per share. Analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.
Caterpillar Dividend Announcement
The business also recently disclosed 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 is Monday, October 20th. This represents a $6.04 annualized dividend and a dividend yield of 1.2%. Caterpillar’s dividend payout ratio (DPR) is 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.
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