FUKOKU MUTUAL LIFE INSURANCE Co Decreases Holdings in Caterpillar Inc. $CAT

FUKOKU MUTUAL LIFE INSURANCE Co lessened its stake in shares of Caterpillar Inc. (NYSE:CAT) by 21.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,973 shares of the industrial products company’s stock after selling 551 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Caterpillar were worth $766,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CAT. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Caterpillar in the 2nd quarter worth $28,000. Compass Financial Services Inc boosted its holdings in Caterpillar by 49.2% in the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 31 shares in the last quarter. Family Legacy Financial Solutions LLC purchased a new stake in shares of Caterpillar during the second quarter worth about $32,000. Harbor Asset Planning Inc. acquired a new position in Caterpillar during the 2nd quarter valued at approximately $34,000. Finally, Total Wealth Planning & Management Inc. acquired a new position in shares of Caterpillar in the 2nd quarter valued at $38,000. Institutional investors own 70.98% of the company’s stock.

Insider Activity at Caterpillar

In related news, insider Lange Bob De sold 14,638 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $562.36, for a total transaction of $8,231,825.68. Following the sale, the insider owned 80,209 shares of the company’s stock, valued at $45,106,333.24. This trade represents a 15.43% 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, insider Jason Kaiser sold 10,707 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $563.60, for a total transaction of $6,034,465.20. Following the transaction, the insider directly owned 8,649 shares in the company, valued at $4,874,576.40. The trade was a 55.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 86,229 shares of company stock valued at $43,323,118 in the last ninety days. 0.33% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Truist Financial reiterated a “buy” rating and issued a $729.00 price target (up previously from $582.00) on shares of Caterpillar in a report on Thursday, October 30th. Barclays upped their price target on Caterpillar from $485.00 to $555.00 and gave the stock an “equal weight” rating in a report on Thursday, October 30th. JPMorgan Chase & Co. increased their price objective on shares of Caterpillar from $650.00 to $730.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. UBS Group raised their price target on shares of Caterpillar from $506.00 to $581.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. Finally, Bank of America raised their price objective on Caterpillar from $594.00 to $650.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Caterpillar presently has an average rating of “Moderate Buy” and an average price target of $610.32.

Caterpillar Stock Up 1.1%

CAT stock opened at $553.04 on Thursday. The stock has a market cap of $258.81 billion, a P/E ratio of 28.39, a PEG ratio of 3.33 and a beta of 1.51. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 1.34. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $596.21. The company’s 50 day moving average is $514.01 and its two-hundred day moving average is $432.71.

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

Caterpillar Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 1.1%. Caterpillar’s dividend payout ratio is currently 31.01%.

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.