Caterpillar Inc. $CAT Stock Holdings Lifted by Jag Capital Management LLC

Jag Capital Management LLC lifted its position in Caterpillar Inc. (NYSE:CAT) by 38.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,079 shares of the industrial products company’s stock after buying an additional 297 shares during the quarter. Jag Capital Management LLC’s holdings in Caterpillar were worth $419,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Trivium Point Advisory LLC grew its position in Caterpillar by 132.9% during the 2nd 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 holdings in shares of Caterpillar by 9.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company’s stock valued at $26,037,000 after buying an additional 7,125 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in shares of Caterpillar by 11.2% during 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 valued at $5,557,000 after buying an additional 1,440 shares in the last quarter. Ransom Advisory Ltd purchased a new position in Caterpillar during the 1st quarter valued at about $427,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Caterpillar by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company’s stock valued at $1,089,798,000 after acquiring an additional 15,347 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the company’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the sale, the insider directly owned 8,632 shares in the company, valued at $3,605,586.40. This represents a 20.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Susan C. Schwab sold 2,324 shares of the company’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $410.00, for a total transaction of $952,840.00. Following the sale, the director owned 6,917 shares of the company’s stock, valued at $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 38,819 shares of company stock valued at $16,885,492. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Melius Research upgraded shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price target for the company in a report on Wednesday, July 9th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Caterpillar in a research report on Monday, July 14th. Bank of America boosted their price target on shares of Caterpillar from $495.00 to $517.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Jefferies Financial Group boosted their price target on shares of Caterpillar from $500.00 to $570.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Finally, Evercore ISI upgraded shares of Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price target on the stock in a report on Tuesday, August 19th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $488.13.

Caterpillar Trading Up 2.8%

Shares of NYSE:CAT opened at $505.11 on Tuesday. The stock has a market capitalization of $236.64 billion, a PE ratio of 25.69, a P/E/G ratio of 3.01 and a beta of 1.46. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $511.50. The firm has a fifty day moving average price of $444.65 and a 200 day moving average price of $385.71. 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 (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). The company had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The business’s revenue was down .7% compared to the same quarter last year. During the same quarter last year, the company posted $5.99 EPS. Analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Dividend Announcement

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

Caterpillar Company 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.