Yousif Capital Management LLC Lowers Holdings in Caterpillar Inc. $CAT

Yousif Capital Management LLC trimmed its holdings in Caterpillar Inc. (NYSE:CAT) by 1.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 85,085 shares of the industrial products company’s stock after selling 1,095 shares during the quarter. Yousif Capital Management LLC’s holdings in Caterpillar were worth $33,031,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CAT. Valeo Financial Advisors LLC boosted its holdings in Caterpillar by 36,842.1% in the second 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 purchasing an additional 7,279,991 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Caterpillar by 2,723.1% in the first quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company’s stock valued at $466,430,000 after purchasing an additional 1,364,183 shares during the last quarter. Nuveen LLC purchased a new stake in Caterpillar in the first quarter valued at $391,788,000. Assenagon Asset Management S.A. boosted its holdings in Caterpillar by 546.6% in the second quarter. Assenagon Asset Management S.A. now owns 843,093 shares of the industrial products company’s stock valued at $327,297,000 after purchasing an additional 712,711 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Caterpillar by 9.1% in the first quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company’s stock valued at $1,064,951,000 after purchasing an additional 268,300 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Stock Down 1.7%

CAT opened at $491.67 on Monday. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $511.50. 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 company has a 50-day moving average price of $443.23 and a 200 day moving average price of $384.49. The company has a market cap of $230.34 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 3.01 and a beta of 1.46.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share 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 for the quarter, compared to analyst estimates of $16.14 billion. During the same quarter last year, the company earned $5.99 EPS. The firm’s revenue for the quarter was down .7% on a year-over-year basis. Sell-side analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 1.2%. Caterpillar’s dividend payout ratio is presently 30.72%.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of the 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 approximately $2,835,970. This represents a 25.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Donald J. Umpleby III sold 17,166 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $462.65, for a total transaction of $7,941,849.90. Following the completion of the sale, the chairman owned 465,339 shares of the company’s stock, valued at approximately $215,289,088.35. The trade was a 3.56% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,819 shares of company stock worth $16,885,492. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Caterpillar in a research note on Saturday, September 27th. Robert W. Baird increased their target price on shares of Caterpillar from $495.00 to $540.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 17th. Truist Financial increased their target price on shares of Caterpillar from $507.00 to $582.00 and gave the stock a “buy” rating in a research note on Wednesday. Evercore ISI raised shares of Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 target price on the stock in a research note on Tuesday, August 19th. Finally, Citigroup increased their target price on shares of Caterpillar from $540.00 to $570.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $478.20.

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.