Caterpillar Inc. $CAT Shares Bought by Fulton Breakefield Broenniman LLC

Fulton Breakefield Broenniman LLC raised its position in Caterpillar Inc. (NYSE:CAT) by 5.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,947 shares of the industrial products company’s stock after acquiring an additional 93 shares during the quarter. Fulton Breakefield Broenniman LLC’s holdings in Caterpillar were worth $756,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. InTrack Investment Management Inc increased its stake in Caterpillar by 0.6% in the 2nd quarter. InTrack Investment Management Inc now owns 4,683 shares of the industrial products company’s stock valued at $1,818,000 after buying an additional 27 shares during the period. Trifecta Capital Advisors LLC increased its stake in Caterpillar by 9.9% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 23,792 shares of the industrial products company’s stock valued at $9,236,000 after buying an additional 2,145 shares during the period. Morey & Quinn Wealth Partners LLC increased its stake in Caterpillar by 5.9% in the 2nd quarter. Morey & Quinn Wealth Partners LLC now owns 1,166 shares of the industrial products company’s stock valued at $453,000 after buying an additional 65 shares during the period. Optas LLC boosted its position in shares of Caterpillar by 8.5% during the 2nd quarter. Optas LLC now owns 1,174 shares of the industrial products company’s stock worth $456,000 after purchasing an additional 92 shares in the last quarter. Finally, Capital Management Associates Inc boosted its position in shares of Caterpillar by 5.9% during the 2nd quarter. Capital Management Associates Inc now owns 3,890 shares of the industrial products company’s stock worth $1,510,000 after purchasing an additional 216 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Robert W. Baird boosted their target price on shares of Caterpillar from $495.00 to $540.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 17th. Sanford C. Bernstein restated a “market perform” rating on shares of Caterpillar in a research report on Monday, July 14th. Melius upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 target price on the stock in a research report on Wednesday, July 9th. Oppenheimer boosted their target price on shares of Caterpillar from $480.00 to $513.00 and gave the stock an “outperform” rating in a research report on Monday, September 29th. Finally, Truist Financial boosted their price objective on shares of Caterpillar from $507.00 to $582.00 and gave the stock a “buy” rating in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $473.53.

Insider Transactions at Caterpillar

In related news, Director Susan C. Schwab sold 2,324 shares of the firm’s 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 approximately $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Donald J. Umpleby III sold 17,168 shares of Caterpillar stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the sale, the chairman owned 482,505 shares in the company, valued at $199,211,839.35. This represents a 3.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,819 shares of company stock worth $16,885,492 in the last three months. Company insiders own 0.33% of the company’s stock.

Caterpillar Price Performance

Caterpillar stock opened at $502.08 on Thursday. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $509.48. The stock has a market capitalization of $235.21 billion, a P/E ratio of 25.54, a P/E/G ratio of 2.96 and a beta of 1.46. The firm’s 50-day moving average is $440.73 and its two-hundred day moving average is $381.76. 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 (NYSE:CAT) last released its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (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 firm had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. During the same period in the prior year, the business earned $5.99 earnings per share. Caterpillar’s revenue for the quarter was down .7% on a year-over-year basis. Equities analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

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 issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Monday, October 20th. Caterpillar’s dividend payout ratio is presently 30.72%.

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.