Caterpillar Inc. $CAT Shares Acquired by Quadrant Capital Group LLC

Quadrant Capital Group LLC raised its stake in Caterpillar Inc. (NYSE:CAT) by 12.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 13,203 shares of the industrial products company’s stock after buying an additional 1,464 shares during the quarter. Quadrant Capital Group LLC’s holdings in Caterpillar were worth $5,125,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Valeo Financial Advisors LLC increased its stake in shares of Caterpillar by 36,842.1% in the second quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock valued at $2,833,836,000 after purchasing an additional 7,279,991 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Caterpillar by 6.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,204,445 shares of the industrial products company’s stock valued at $1,386,626,000 after purchasing an additional 264,054 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Caterpillar by 1.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,337,915 shares of the industrial products company’s stock valued at $1,295,432,000 after purchasing an additional 33,467 shares during the period. Goldman Sachs Group Inc. increased its stake in Caterpillar by 9.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company’s stock worth $1,064,951,000 after purchasing an additional 268,300 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Caterpillar by 5.0% during the 1st quarter. Invesco Ltd. now owns 3,141,936 shares of the industrial products company’s stock worth $1,036,211,000 after buying an additional 150,533 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Trading Up 1.1%

Caterpillar stock opened at $572.56 on Thursday. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 1.34. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $596.21. The company’s fifty day simple moving average is $526.14 and its 200-day simple moving average is $440.97. The stock has a market cap of $267.95 billion, a P/E ratio of 29.39, a P/E/G ratio of 3.33 and a beta of 1.51.

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

Caterpillar Dividend Announcement

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

Insider Activity at Caterpillar

In other news, insider Lange Bob De sold 14,638 shares of the stock in a transaction dated 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 transaction, the insider owned 80,209 shares of the company’s stock, valued at approximately $45,106,333.24. This represents a 15.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David Maclennan bought 300 shares of Caterpillar stock in a transaction that occurred on Thursday, November 6th. The stock was bought at an average price of $568.86 per share, with a total value of $170,658.00. Following the completion of the acquisition, the director owned 7,947 shares in the company, valued at approximately $4,520,730.42. The trade was a 3.92% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 86,229 shares of company stock worth $43,323,118 in the last 90 days. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

CAT has been the subject of several recent analyst reports. Argus raised their target price on shares of Caterpillar from $460.00 to $625.00 and gave the stock a “buy” rating in a report on Wednesday, November 19th. DA Davidson upped their price target on shares of Caterpillar from $408.00 to $569.00 and gave the company a “neutral” rating in a research report on Monday, November 3rd. Truist Financial reiterated a “buy” rating and set a $729.00 price objective (up from $582.00) on shares of Caterpillar in a research report on Thursday, October 30th. Sanford C. Bernstein restated a “market perform” rating on shares of Caterpillar in a report on Wednesday, November 5th. Finally, UBS Group lifted their price target on Caterpillar from $506.00 to $581.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.