SilverOak Wealth Management LLC Purchases Shares of 744 Caterpillar Inc. $CAT

SilverOak Wealth Management LLC purchased a new stake in shares of Caterpillar Inc. (NYSE:CAT) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 744 shares of the industrial products company’s stock, valued at approximately $289,000.

Several other large investors have also added to or reduced their stakes in CAT. Valeo Financial Advisors LLC lifted its holdings in shares of Caterpillar by 36,842.1% in the 2nd quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock valued at $2,833,836,000 after buying an additional 7,279,991 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Caterpillar by 6.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,204,445 shares of the industrial products company’s stock valued at $1,386,626,000 after buying an additional 264,054 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Caterpillar by 0.5% in 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 buying an additional 15,347 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Caterpillar by 9.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company’s stock valued at $1,064,951,000 after buying an additional 268,300 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Caterpillar by 5.0% in the 1st quarter. Invesco Ltd. now owns 3,141,936 shares of the industrial products company’s stock valued at $1,036,211,000 after buying an additional 150,533 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

Shares of Caterpillar stock opened at $541.28 on Friday. The business has a 50 day simple moving average of $451.16 and a two-hundred day simple moving average of $389.18. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $544.99. The stock has a market capitalization of $253.58 billion, a P/E ratio of 27.53, a PEG ratio of 3.27 and a beta of 1.46. 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 announced its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 EPS 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 firm had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. During the same period in the previous year, the company earned $5.99 EPS. Caterpillar’s revenue was down .7% compared to the same quarter last year. As a group, analysts predict that Caterpillar Inc. will post 19.86 EPS 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 given a $1.51 dividend. The ex-dividend date is Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.1%. Caterpillar’s dividend payout ratio is 30.72%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CAT. Oppenheimer boosted their price objective on Caterpillar from $480.00 to $513.00 and gave the company an “outperform” rating in a report on Monday, September 29th. Melius raised Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price target for the company in a report on Wednesday, July 9th. Melius Research raised 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. Truist Financial upped their price target on Caterpillar from $507.00 to $582.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Finally, Jefferies Financial Group upped their price target on Caterpillar from $500.00 to $570.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Two 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 company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $506.60.

Insider Activity

In other news, insider Jason Kaiser sold 2,161 shares of the company’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 $3,605,586.40. This represents a 20.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Susan C. Schwab sold 2,324 shares of the company’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 completion of 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. Insiders sold 55,985 shares of company stock worth $25,559,300 over the last ninety days. Corporate insiders own 0.33% of the company’s stock.

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.