Shelton Capital Management Buys 7,422 Shares of Caterpillar Inc. $CAT

Shelton Capital Management increased its position in Caterpillar Inc. (NYSE:CAT) by 21.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,445 shares of the industrial products company’s stock after purchasing an additional 7,422 shares during the quarter. Shelton Capital Management’s holdings in Caterpillar were worth $16,478,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mid American Wealth Advisory Group Inc. bought a new position in shares of Caterpillar during the 2nd quarter worth $28,000. Family Legacy Financial Solutions LLC purchased a new position in Caterpillar during the 2nd quarter valued at about $32,000. RiverPark Advisors LLC bought a new stake in shares of Caterpillar in the 2nd quarter valued at about $32,000. Harbor Asset Planning Inc. purchased a new stake in shares of Caterpillar in the 2nd quarter worth approximately $34,000. Finally, Vermillion & White Wealth Management Group LLC increased its holdings in Caterpillar by 107.0% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 89 shares of the industrial products company’s stock valued at $35,000 after buying an additional 46 shares during the period. 70.98% of the stock is owned by institutional investors.

Caterpillar Trading Up 0.5%

NYSE:CAT opened at $576.76 on Monday. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 1.34. The firm has a fifty day simple moving average of $530.44 and a 200-day simple moving average of $444.81. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $596.21. The company has a market capitalization of $269.91 billion, a P/E ratio of 29.61, a PEG ratio of 3.33 and a beta of 1.51.

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

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, October 20th were issued a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, October 20th. Caterpillar’s dividend payout ratio is 31.01%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Jefferies Financial Group lifted their price target on Caterpillar from $570.00 to $700.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Oppenheimer boosted their target price on shares of Caterpillar from $513.00 to $645.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Royal Bank Of Canada started coverage on shares of Caterpillar in a report on Wednesday, October 22nd. They issued a “sector perform” rating and a $560.00 price target on the stock. Truist Financial reissued a “buy” rating and set a $729.00 target price (up previously from $582.00) on shares of Caterpillar in a research report on Thursday, October 30th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Caterpillar in a report on Wednesday, November 5th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $610.32.

Insider Transactions at Caterpillar

In related news, insider Jason Kaiser sold 10,707 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider owned 8,649 shares of the company’s stock, valued at $4,874,576.40. This trade represents a 55.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David Maclennan purchased 300 shares of the stock in a transaction on Thursday, November 6th. The stock was acquired at an average cost of $568.86 per share, for a total transaction of $170,658.00. Following the completion of the acquisition, the director owned 7,947 shares of the company’s stock, valued at $4,520,730.42. The trade was a 3.92% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have sold 86,229 shares of company stock valued at $43,323,118. 0.33% of the stock is owned by corporate insiders.

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.