Callan Family Office LLC Acquires 12,765 Shares of Caterpillar Inc. $CAT

Callan Family Office LLC grew its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 279.3% during the second quarter, HoldingsChannel reports. The institutional investor owned 17,335 shares of the industrial products company’s stock after buying an additional 12,765 shares during the period. Callan Family Office LLC’s holdings in Caterpillar were worth $6,730,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Trivium Point Advisory LLC grew its stake in Caterpillar by 132.9% in the second quarter. Trivium Point Advisory LLC now owns 1,926 shares of the industrial products company’s stock worth $748,000 after purchasing an additional 1,099 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Caterpillar by 9.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company’s stock worth $26,037,000 after purchasing an additional 7,125 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in Caterpillar by 11.2% in the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,315 shares of the industrial products company’s stock worth $5,557,000 after purchasing an additional 1,440 shares in the last quarter. Ransom Advisory Ltd bought a new position in Caterpillar in the first quarter worth approximately $427,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Caterpillar by 0.5% in the first 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 purchasing an additional 15,347 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CAT. Sanford C. Bernstein reissued a “market perform” rating on shares of Caterpillar in a research note on Monday, July 14th. Melius raised Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price objective on the stock in a research note on Wednesday, July 9th. Evercore ISI upgraded Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 target price for the company in a report on Tuesday, August 19th. Robert W. Baird upped their target price on Caterpillar from $495.00 to $540.00 and gave the stock an “outperform” rating in a report on Wednesday, September 17th. Finally, JPMorgan Chase & Co. upped their target price on Caterpillar from $475.00 to $520.00 and gave the stock an “overweight” rating in a report on Wednesday, August 6th. Two equities research 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 company. According to MarketBeat.com, Caterpillar currently has a consensus rating of “Moderate Buy” and a consensus target price of $478.20.

Caterpillar Stock Performance

Shares of CAT opened at $500.10 on Friday. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $509.48. The stock has a fifty day moving average price of $441.97 and a 200-day moving average price of $382.85. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. The firm has a market cap of $234.29 billion, a PE ratio of 25.44, a P/E/G ratio of 3.05 and a beta of 1.46.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data 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). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The business had revenue of $16.57 billion for the quarter, compared to analysts’ expectations of $16.14 billion. During the same quarter in the prior year, the company posted $5.99 EPS. The business’s revenue for the quarter was down .7% on a year-over-year basis. Equities research analysts predict 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. 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 currently 30.72%.

Insider Activity

In other news, Chairman Donald J. Umpleby III sold 17,166 shares of the stock in a transaction on Monday, September 22nd. The stock was 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 in the company, valued at approximately $215,289,088.35. This represents a 3.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jason Kaiser sold 2,161 shares of the firm’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of the transaction, the insider owned 8,632 shares of the company’s stock, valued at $3,605,586.40. This trade represents a 20.02% 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.

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.