Jacobsen Capital Management Purchases New Holdings in Caterpillar Inc. $CAT

Jacobsen Capital Management acquired a new position in shares of Caterpillar Inc. (NYSE:CAT) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 831 shares of the industrial products company’s stock, valued at approximately $323,000.

Other institutional investors have also recently modified their holdings of the company. Trivium Point Advisory LLC boosted its position in shares of 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 acquiring an additional 1,099 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Caterpillar by 9.9% in the 1st 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 acquiring an additional 7,125 shares during the last quarter. Palmer Knight Co acquired a new position in shares of Caterpillar in the second quarter valued at approximately $5,884,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in Caterpillar by 11.2% in the 2nd 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 acquiring an additional 1,440 shares during the period. Finally, Ransom Advisory Ltd acquired a new position in Caterpillar during the 1st quarter worth about $427,000. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Stock Down 1.2%

Shares of CAT opened at $524.95 on Wednesday. The firm has a market cap of $245.93 billion, a P/E ratio of 26.70, a P/E/G ratio of 3.02 and a beta of 1.46. The stock has a 50 day simple moving average of $458.10 and a two-hundred day simple moving average of $394.14. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $544.99. 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 released its quarterly earnings data 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). The company had revenue of $16.57 billion for the quarter, compared to analysts’ expectations of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The business’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the company posted $5.99 EPS. On average, analysts forecast 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. Shareholders of record on Monday, October 20th will be issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Monday, October 20th. Caterpillar’s dividend payout ratio is 30.72%.

Insider Buying and Selling at Caterpillar

In other news, insider Jason Kaiser sold 2,161 shares of the 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 sale, the insider directly owned 8,632 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through this link. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the completion of the transaction, the chairman owned 482,505 shares of the company’s stock, valued at approximately $199,211,839.35. The trade was a 3.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,985 shares of company stock worth $25,559,300. 0.33% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CAT has been the topic of a number of analyst reports. Erste Group Bank raised shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Truist Financial increased their target price on Caterpillar from $507.00 to $582.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Melius raised Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price objective for the company in a research note on Wednesday, July 9th. Bank of America boosted their price target on shares of Caterpillar from $517.00 to $594.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Finally, UBS Group raised their target price on Caterpillar from $450.00 to $506.00 and gave the company a “neutral” rating in a research report on Monday, October 13th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Caterpillar has an average rating of “Moderate Buy” and an average price target of $515.40.

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.