Caterpillar Inc. (NYSE:CAT) Shares Acquired by Cwm LLC

Cwm LLC lifted its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 27.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 69,599 shares of the industrial products company’s stock after purchasing an additional 14,937 shares during the quarter. Cwm LLC’s holdings in Caterpillar were worth $23,183,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in CAT. Partnership Wealth Management LLC acquired a new stake in shares of Caterpillar during the fourth quarter worth about $26,000. Richardson Financial Services Inc. purchased a new stake in shares of Caterpillar during the fourth quarter worth approximately $27,000. Thompson Investment Management Inc. purchased a new stake in shares of Caterpillar during the first quarter worth approximately $27,000. Fairman Group LLC purchased a new stake in shares of Caterpillar during the first quarter worth approximately $29,000. Finally, Vima LLC purchased a new stake in shares of Caterpillar during the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Bank of America cut their target price on shares of Caterpillar from $385.00 to $376.00 and set a “buy” rating on the stock in a research note on Wednesday. Barclays increased their price target on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday. Raymond James assumed coverage on shares of Caterpillar in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. Truist Financial reiterated a “buy” rating and issued a $399.00 price target (up from $390.00) on shares of Caterpillar in a research note on Wednesday. Finally, Citigroup assumed coverage on shares of Caterpillar in a research note on Wednesday, June 26th. They issued a “buy” rating and a $380.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $337.38.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Cheryl H. Johnson sold 1,508 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $350.00, for a total value of $527,800.00. Following the completion of the sale, the insider now owns 18,515 shares of the company’s stock, valued at $6,480,250. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Lange Bob De sold 21,847 shares of Caterpillar stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $356.90, for a total transaction of $7,797,194.30. Following the completion of the sale, the insider now owns 71,115 shares in the company, valued at approximately $25,380,943.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Cheryl H. Johnson sold 1,508 shares of Caterpillar stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $350.00, for a total value of $527,800.00. Following the sale, the insider now owns 18,515 shares of the company’s stock, valued at approximately $6,480,250. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,863 shares of company stock valued at $8,837,714. 0.33% of the stock is owned by company insiders.

Caterpillar Stock Performance

Shares of NYSE CAT traded down $0.64 during mid-day trading on Wednesday, hitting $325.80. 3,008,424 shares of the company were exchanged, compared to its average volume of 2,760,452. The company has a quick ratio of 0.83, a current ratio of 1.35 and a debt-to-equity ratio of 1.41. The stock has a 50 day simple moving average of $333.67 and a 200-day simple moving average of $338.54. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $382.01. The firm has a market cap of $159.33 billion, a price-to-earnings ratio of 14.86, a price-to-earnings-growth ratio of 1.72 and a beta of 1.12.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, topping the consensus estimate of $5.53 by $0.46. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. The firm had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $16.91 billion. During the same period last year, the company earned $5.55 earnings per share. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, sell-side analysts forecast that Caterpillar Inc. will post 21.57 EPS for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd will be issued a $1.41 dividend. The ex-dividend date of this dividend is Monday, July 22nd. This represents a $5.64 dividend on an annualized basis and a yield of 1.73%. This is an increase from Caterpillar’s previous quarterly dividend of $1.30. Caterpillar’s dividend payout ratio (DPR) is 25.46%.

Caterpillar announced that its board has approved a share repurchase program on Wednesday, June 12th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the industrial products company to buy up to 12.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

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.