ProShare Advisors LLC Purchases 121,024 Shares of Caterpillar Inc. $CAT

ProShare Advisors LLC lifted its position in Caterpillar Inc. (NYSE:CAT) by 20.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 725,166 shares of the industrial products company’s stock after purchasing an additional 121,024 shares during the period. Caterpillar comprises 0.6% of ProShare Advisors LLC’s portfolio, making the stock its 26th largest holding. ProShare Advisors LLC owned approximately 0.15% of Caterpillar worth $281,517,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CAT. Mid American Wealth Advisory Group Inc. bought a new stake in Caterpillar during the second quarter valued at about $28,000. Compass Financial Services Inc raised its stake in Caterpillar by 49.2% during the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 31 shares during the period. Family Legacy Financial Solutions LLC purchased a new position in Caterpillar in the 2nd quarter worth approximately $32,000. Harbor Asset Planning Inc. bought a new position in Caterpillar in the 2nd quarter worth approximately $34,000. Finally, Total Wealth Planning & Management Inc. purchased a new stake in Caterpillar during the 2nd quarter valued at approximately $38,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Down 1.2%

Shares of NYSE CAT opened at $562.82 on Monday. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 1.34. The business has a fifty day simple moving average of $491.77 and a two-hundred day simple moving average of $419.59. The firm has a market cap of $263.39 billion, a PE ratio of 28.89, a price-to-earnings-growth ratio of 3.33 and a beta of 1.51. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $596.21.

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

Caterpillar Announces Dividend

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. This represents a $6.04 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s dividend payout ratio (DPR) is 31.01%.

Insiders Place Their Bets

In other Caterpillar news, CAO William E. Schaupp sold 1,200 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $572.22, for a total value of $686,664.00. Following the completion of the transaction, the chief accounting officer directly owned 1,323 shares in the company, valued at approximately $757,047.06. The trade was a 47.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Donald J. Umpleby III sold 17,168 shares of Caterpillar 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 directly owned 482,505 shares in the company, valued at approximately $199,211,839.35. The trade was a 3.44% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 69,662 shares of company stock worth $33,575,140. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

CAT has been the topic of several research analyst reports. UBS Group boosted their target price on shares of Caterpillar from $506.00 to $581.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. Citigroup increased their price objective on shares of Caterpillar from $570.00 to $670.00 and gave the company a “buy” rating in a report on Friday, October 31st. Truist Financial reaffirmed a “buy” rating and issued a $729.00 target price (up from $582.00) on shares of Caterpillar in a report on Thursday, October 30th. Erste Group Bank raised Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Finally, Robert W. Baird lifted their price objective on Caterpillar from $612.00 to $680.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Caterpillar has a consensus rating of “Moderate Buy” and an average price target of $596.59.

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.