Caterpillar Inc. (NYSE:CAT) Shares Bought by AAFMAA Wealth Management & Trust LLC

AAFMAA Wealth Management & Trust LLC increased its position in shares of Caterpillar Inc. (NYSE:CAT) by 1.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,192 shares of the industrial products company’s stock after purchasing an additional 77 shares during the quarter. Caterpillar accounts for 1.2% of AAFMAA Wealth Management & Trust LLC’s investment portfolio, making the stock its 21st biggest holding. AAFMAA Wealth Management & Trust LLC’s holdings in Caterpillar were worth $2,396,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CAT. Milestone Asset Management LLC purchased a new position in Caterpillar during the 2nd quarter valued at about $1,120,000. Apollon Wealth Management LLC raised its position in shares of Caterpillar by 8.0% during the 2nd quarter. Apollon Wealth Management LLC now owns 22,661 shares of the industrial products company’s stock worth $7,548,000 after purchasing an additional 1,673 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Caterpillar by 5.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 161,125 shares of the industrial products company’s stock valued at $53,671,000 after buying an additional 8,064 shares in the last quarter. Zhang Financial LLC increased its position in Caterpillar by 2.2% during the second quarter. Zhang Financial LLC now owns 8,195 shares of the industrial products company’s stock worth $2,730,000 after buying an additional 176 shares in the last quarter. Finally, MONECO Advisors LLC raised its holdings in shares of Caterpillar by 14.3% in the second quarter. MONECO Advisors LLC now owns 4,570 shares of the industrial products company’s stock worth $1,522,000 after acquiring an additional 572 shares during the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Stock Up 0.4 %

NYSE:CAT traded up $1.21 during mid-day trading on Monday, hitting $344.69. The company had a trading volume of 2,252,628 shares, compared to its average volume of 2,729,413. The business has a fifty day simple moving average of $334.48 and a 200-day simple moving average of $340.83. The firm has a market capitalization of $168.57 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 1.72 and a beta of 1.12. Caterpillar Inc. has a 1 year low of $223.76 and a 1 year high of $382.01. The company has a current ratio of 1.35, a quick ratio of 0.83 and a debt-to-equity ratio of 1.41.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $16.91 billion. During the same quarter in the prior year, the business earned $5.55 EPS. Caterpillar’s quarterly revenue was down 3.6% compared to the same quarter last year. Equities analysts forecast that Caterpillar Inc. will post 21.57 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd will be paid a dividend of $1.41 per share. The ex-dividend date is Monday, July 22nd. This is an increase from Caterpillar’s previous quarterly dividend of $1.30. This represents a $5.64 annualized dividend and a dividend yield of 1.64%. Caterpillar’s dividend payout ratio (DPR) is currently 25.46%.

Caterpillar declared that its Board of Directors has initiated a share repurchase program on Wednesday, June 12th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the industrial products company to repurchase up to 12.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

CAT has been the subject of several analyst reports. Barclays boosted their target price on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Bank of America decreased their target price on shares of Caterpillar from $385.00 to $376.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Citigroup initiated coverage on Caterpillar in a research note on Wednesday, June 26th. They set a “buy” rating and a $380.00 price target on the stock. StockNews.com upgraded Caterpillar from a “hold” rating to a “buy” rating in a research note on Saturday, August 10th. Finally, UBS Group raised their price target on Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $336.31.

Insider Transactions at Caterpillar

In related news, insider Cheryl H. Johnson sold 1,508 shares of Caterpillar stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $340.00, for a total value of $512,720.00. Following the completion of the transaction, the insider now directly owns 20,023 shares in the company, valued at $6,807,820. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Caterpillar 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.