KMG Fiduciary Partners LLC Has $1.63 Million Stock Holdings in Caterpillar Inc. $CAT

KMG Fiduciary Partners LLC lowered its position in shares of Caterpillar Inc. (NYSE:CAT) by 81.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,530 shares of the industrial products company’s stock after selling 6,568 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in Caterpillar were worth $1,630,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Diamant Asset Management Inc. increased its position in shares of Caterpillar by 68,427.2% in the 1st quarter. Diamant Asset Management Inc. now owns 3,140,603 shares of the industrial products company’s stock valued at $2,224,992,000 after buying an additional 3,136,020 shares in the last quarter. Capital International Investors bought a new position in Caterpillar during the fourth quarter worth about $1,225,317,000. Northwestern Mutual Wealth Management Co. grew its stake in Caterpillar by 573.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,504,612 shares of the industrial products company’s stock valued at $861,947,000 after acquiring an additional 1,281,087 shares during the period. Bank of America Corp DE increased its holdings in shares of Caterpillar by 16.0% in the fourth quarter. Bank of America Corp DE now owns 6,738,802 shares of the industrial products company’s stock worth $3,860,457,000 after acquiring an additional 928,974 shares in the last quarter. Finally, Cynosure Group LLC raised its position in shares of Caterpillar by 8,359.6% during the fourth quarter. Cynosure Group LLC now owns 513,754 shares of the industrial products company’s stock worth $294,314,000 after purchasing an additional 507,681 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CAT has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their price objective on Caterpillar from $1,125.00 to $1,165.00 and gave the company an “overweight” rating in a report on Wednesday, June 17th. Robert W. Baird set a $970.00 target price on shares of Caterpillar in a report on Wednesday, August 5th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $1,002.00 price target on shares of Caterpillar in a report on Wednesday, August 5th. Bank of America increased their price objective on shares of Caterpillar from $930.00 to $989.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Finally, Truist Financial set a $980.00 price objective on shares of Caterpillar in a report on Wednesday, August 5th. Thirteen analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, Caterpillar presently has an average rating of “Moderate Buy” and a consensus target price of $995.52.

Caterpillar Stock Down 0.7%

Caterpillar stock opened at $836.29 on Tuesday. The company has a current ratio of 1.37, a quick ratio of 0.85 and a debt-to-equity ratio of 1.65. Caterpillar Inc. has a 1-year low of $405.46 and a 1-year high of $1,073.46. The company has a fifty day simple moving average of $920.45 and a 200 day simple moving average of $821.82. The company has a market cap of $384.42 billion, a P/E ratio of 35.98, a price-to-earnings-growth ratio of 1.52 and a beta of 1.60.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, August 4th. The industrial products company reported $8.17 EPS for the quarter, topping the consensus estimate of $6.22 by $1.95. The firm had revenue of $20.54 billion for the quarter, compared to analysts’ expectations of $19.34 billion. Caterpillar had a net margin of 14.51% and a return on equity of 55.53%. The company’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same period in the previous year, the firm posted $4.72 EPS. Research analysts anticipate that Caterpillar Inc. will post 26.3 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Monday, July 20th will be paid a dividend of $1.63 per share. The ex-dividend date is Monday, July 20th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.8%. This is an increase from Caterpillar’s previous quarterly dividend of $1.51. Caterpillar’s dividend payout ratio (DPR) is currently 28.06%.

Insider Activity at Caterpillar

In other Caterpillar news, insider Denise C. Johnson sold 12,605 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $907.91, for a total value of $11,444,205.55. Following the completion of the sale, the insider owned 49,825 shares in the company, valued at $45,236,615.75. This trade represents a 20.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO William E. Schaupp sold 360 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $906.00, for a total transaction of $326,160.00. Following the transaction, the chief accounting officer owned 530 shares in the company, valued at $480,180. This represents a 40.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 19,161 shares of company stock valued at $17,407,424. 0.33% of the stock is currently owned by insiders.

Caterpillar Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.