Hazlett Burt & Watson Inc. Acquires 569 Shares of Caterpillar Inc. $CAT

Hazlett Burt & Watson Inc. raised its position in Caterpillar Inc. (NYSE:CAT) by 16.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,094 shares of the industrial products company’s stock after purchasing an additional 569 shares during the period. Hazlett Burt & Watson Inc.’s holdings in Caterpillar were worth $1,587,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its holdings in Caterpillar by 3.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 137,777 shares of the industrial products company’s stock worth $53,860,000 after purchasing an additional 4,380 shares during the last quarter. Almanack Investment Partners LLC. acquired a new position in Caterpillar during the second quarter worth $2,216,000. Yarger Wealth Strategies LLC acquired a new position in Caterpillar during the second quarter worth $244,000. CCG Wealth Management LLC acquired a new position in Caterpillar during the second quarter worth $259,000. Finally, Meritage Portfolio Management acquired a new position in Caterpillar during the second quarter worth $224,000. Institutional investors own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

CAT has been the subject of a number of recent analyst reports. Bank of America increased their price target on shares of Caterpillar from $495.00 to $517.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Robert W. Baird upped their price target on shares of Caterpillar from $495.00 to $540.00 and gave the company an “outperform” rating in a research note on Wednesday, September 17th. JPMorgan Chase & Co. raised their price objective on shares of Caterpillar from $475.00 to $520.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 6th. Melius Research upgraded shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price objective for the company in a research report on Wednesday, July 9th. Finally, Barclays raised their price target on shares of Caterpillar from $383.00 to $425.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $478.20.

Insider Activity

In other news, Chairman Donald J. Umpleby III sold 17,166 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $462.65, for a total value of $7,941,849.90. Following the sale, the chairman directly owned 465,339 shares in the company, valued at approximately $215,289,088.35. This trade represents a 3.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the sale, the insider 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. In the last three months, insiders have sold 38,819 shares of company stock worth $16,885,492. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Price Performance

CAT stock opened at $491.67 on Monday. The company’s 50-day moving average price is $443.23 and its two-hundred day moving average price is $384.49. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $511.50. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. The firm has a market cap of $230.34 billion, a P/E ratio of 25.01, a P/E/G ratio of 3.01 and a beta of 1.46.

Caterpillar (NYSE:CAT) last posted its quarterly 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 during the quarter, compared to analyst estimates of $16.14 billion. During the same quarter in the previous year, the business posted $5.99 earnings per share. The company’s revenue for the quarter was down .7% on a year-over-year basis. On average, analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal 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 paid 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 is Monday, October 20th. Caterpillar’s dividend payout ratio (DPR) 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.