Caterpillar Inc. $CAT Position Boosted by Vest Financial LLC

Vest Financial LLC increased its holdings in Caterpillar Inc. (NYSE:CAT) by 34.6% during the second quarter, Holdings Channel.com reports. The firm owned 190,846 shares of the industrial products company’s stock after acquiring an additional 49,076 shares during the quarter. Caterpillar accounts for 1.0% of Vest Financial LLC’s investment portfolio, making the stock its 8th largest holding. Vest Financial LLC’s holdings in Caterpillar were worth $74,088,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in CAT. Compass Financial Services Inc raised its position in Caterpillar by 49.2% in the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 31 shares during the period. Family Legacy Financial Solutions LLC bought a new stake in Caterpillar in the 2nd quarter worth $32,000. Redmont Wealth Advisors LLC bought a new stake in Caterpillar in the 1st quarter worth $33,000. Total Wealth Planning & Management Inc. bought a new stake in Caterpillar in the 2nd quarter worth $38,000. Finally, Fiduciary Wealth Partners LLC bought a new stake in Caterpillar in the 1st quarter worth $45,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Down 1.7%

Shares of CAT opened at $491.67 on Monday. The firm’s 50-day moving average price is $443.23 and its 200-day moving average price is $384.49. The firm has a market capitalization of $230.34 billion, a price-to-earnings ratio of 25.01, a PEG ratio of 3.01 and a beta of 1.46. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $511.50.

Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing analysts’ consensus estimates of $4.88 by ($0.16). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The company had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $16.14 billion. During the same period in the previous year, the firm posted $5.99 EPS. The company’s revenue for the quarter was down .7% on a year-over-year basis. Sell-side analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be given a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s payout ratio is currently 30.72%.

Insider Transactions at Caterpillar

In other news, Director Susan C. Schwab sold 2,324 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the sale, the director directly owned 6,917 shares of the company’s stock, valued at $2,835,970. The trade was a 25.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jason Kaiser sold 2,161 shares of the business’s stock in a transaction that occurred 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 sale, the insider directly owned 8,632 shares in the company, valued at approximately $3,605,586.40. This represents a 20.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,819 shares of company stock valued at $16,885,492 in the last ninety days. 0.33% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Caterpillar in a report on Saturday, September 27th. Truist Financial raised their price target on shares of Caterpillar from $507.00 to $582.00 and gave the stock a “buy” rating in a report on Wednesday. Melius Research raised shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price target on the stock in a report on Wednesday, July 9th. Erste Group Bank raised shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Finally, Robert W. Baird raised their price target on shares of Caterpillar from $495.00 to $540.00 and gave the stock an “outperform” rating in a report on Wednesday, September 17th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has an average 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.