J. W. Coons Advisors LLC Sells 500 Shares of Caterpillar Inc. $CAT

J. W. Coons Advisors LLC reduced its holdings in Caterpillar Inc. (NYSE:CAT) by 14.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,880 shares of the industrial products company’s stock after selling 500 shares during the quarter. J. W. Coons Advisors LLC’s holdings in Caterpillar were worth $1,118,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CAT. Aire Advisors LLC raised its stake in Caterpillar by 0.3% during the second quarter. Aire Advisors LLC now owns 9,042 shares of the industrial products company’s stock valued at $3,510,000 after buying an additional 25 shares during the last quarter. Dumont & Blake Investment Advisors LLC raised its stake in shares of Caterpillar by 0.5% in the second quarter. Dumont & Blake Investment Advisors LLC now owns 4,954 shares of the industrial products company’s stock worth $1,923,000 after purchasing an additional 25 shares during the last quarter. Redwood Wealth Management Group LLC raised its stake in shares of Caterpillar by 0.9% in the second quarter. Redwood Wealth Management Group LLC now owns 2,669 shares of the industrial products company’s stock worth $1,036,000 after purchasing an additional 25 shares during the last quarter. Tsfg LLC raised its stake in shares of Caterpillar by 9.8% in the second quarter. Tsfg LLC now owns 279 shares of the industrial products company’s stock worth $108,000 after purchasing an additional 25 shares during the last quarter. Finally, GSB Wealth Management LLC raised its stake in shares of Caterpillar by 1.2% in the second quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company’s stock worth $832,000 after purchasing an additional 26 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

NYSE:CAT opened at $570.03 on Tuesday. The stock has a 50-day simple moving average of $481.17 and a two-hundred day simple moving average of $411.96. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $596.21. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.81 and a current ratio of 1.38. The firm has a market capitalization of $267.05 billion, a PE ratio of 29.26, a P/E/G ratio of 3.33 and a beta of 1.46.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.52 by $0.43. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The business had revenue of $17.64 billion during the quarter, compared to analyst estimates of $16.72 billion. During the same quarter in the previous year, the company posted $5.17 earnings per share. Caterpillar’s revenue for the quarter was up 9.5% on a year-over-year basis. Analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Monday, October 20th. Caterpillar’s payout ratio is presently 31.01%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. DA Davidson boosted their price target on Caterpillar from $408.00 to $569.00 and gave the stock a “neutral” rating in a research note on Monday. Truist Financial restated a “buy” rating and issued a $729.00 price target (up previously from $582.00) on shares of Caterpillar in a research note on Thursday, October 30th. JPMorgan Chase & Co. lifted their price objective on Caterpillar from $650.00 to $730.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Erste Group Bank raised Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Finally, UBS Group lifted their price objective on Caterpillar from $450.00 to $506.00 and gave the stock a “neutral” rating in a report on Monday, October 13th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Caterpillar presently has a consensus rating of “Moderate Buy” and a consensus target price of $579.81.

Insider Activity

In related news, Chairman Donald J. Umpleby III sold 17,168 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total value of $7,088,152.16. Following the sale, the chairman directly owned 482,505 shares in the company, valued at approximately $199,211,839.35. The trade was a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jason Kaiser sold 2,161 shares of the business’s stock in a transaction dated 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 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have 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 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.