1,089 Shares in Caterpillar Inc. $CAT Bought by Richmond Investment Services LLC

Richmond Investment Services LLC purchased a new stake in shares of Caterpillar Inc. (NYSE:CAT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 1,089 shares of the industrial products company’s stock, valued at approximately $423,000.

Other hedge funds have also recently modified their holdings of the company. Trivium Point Advisory LLC boosted its stake 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 valued at $748,000 after purchasing an additional 1,099 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Caterpillar by 9.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company’s stock worth $26,037,000 after buying an additional 7,125 shares during the period. Palmer Knight Co purchased a new position in shares of Caterpillar during the 2nd quarter worth approximately $5,884,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in shares of 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 worth $5,557,000 after acquiring an additional 1,440 shares in the last quarter. Finally, Ransom Advisory Ltd purchased a new position in shares of Caterpillar in the 1st quarter valued at approximately $427,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Activity

In related news, insider Lange Bob De sold 14,638 shares of Caterpillar stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $562.36, for a total value of $8,231,825.68. Following the completion of the sale, the insider directly owned 80,209 shares in the company, valued at approximately $45,106,333.24. This trade represents a 15.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO William E. Schaupp sold 1,200 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was 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 of the company’s stock, valued at approximately $757,047.06. This trade represents a 47.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 86,229 shares of company stock valued at $43,323,118. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Stock Up 1.1%

Shares of Caterpillar stock opened at $572.56 on Thursday. The company has a 50-day simple moving average of $526.14 and a two-hundred day simple moving average of $440.97. The stock has a market capitalization of $267.95 billion, a PE ratio of 29.39, a price-to-earnings-growth ratio of 3.33 and a beta of 1.51. 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.

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

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, October 20th were paid a $1.51 dividend. The ex-dividend date was Monday, October 20th. This represents a $6.04 annualized dividend and a dividend yield of 1.1%. Caterpillar’s payout ratio is currently 31.01%.

Analyst Upgrades and Downgrades

CAT has been the topic of several recent research reports. Bank of America upped their price target on Caterpillar from $594.00 to $650.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Evercore ISI upped their target price on shares of Caterpillar from $476.00 to $630.00 and gave the stock an “outperform” rating in a research report on Monday, November 17th. Truist Financial reissued a “buy” rating and set a $729.00 price target (up from $582.00) on shares of Caterpillar in a research report on Thursday, October 30th. JPMorgan Chase & Co. boosted their price objective on shares of Caterpillar from $650.00 to $730.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Finally, Morgan Stanley raised their target price on shares of Caterpillar from $350.00 to $380.00 and gave the company an “underweight” rating in a research note on Thursday, October 30th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Caterpillar currently has a consensus rating of “Moderate Buy” and a consensus price target of $610.32.

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.