Caterpillar Inc. $CAT Stock: Strategy Asset Managers LLC Grows Stake

Strategy Asset Managers LLC grew its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 376.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,172 shares of the industrial products company’s stock after purchasing an additional 926 shares during the quarter. Strategy Asset Managers LLC’s holdings in Caterpillar were worth $951,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Diversify Advisory Services LLC bought a new stake in shares of Caterpillar during the 2nd quarter valued at $5,372,000. D.B. Root & Company LLC bought a new position in Caterpillar in the 2nd quarter worth $850,000. Dearborn Partners LLC bought a new position in Caterpillar in the 2nd quarter worth $20,293,000. B. Metzler seel. Sohn & Co. AG raised its holdings in Caterpillar by 4.3% in the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 62,731 shares of the industrial products company’s stock worth $66,802,000 after purchasing an additional 2,590 shares during the period. Finally, Van Hulzen Asset Management LLC lifted its position in Caterpillar by 85.3% during the second quarter. Van Hulzen Asset Management LLC now owns 2,809 shares of the industrial products company’s stock valued at $2,991,000 after purchasing an additional 1,293 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

More Caterpillar News

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Oppenheimer maintained an “outperform” rating and still sees substantial upside, although it lowered its price target to $1,009 from $1,118. Oppenheimer Caterpillar price-target update
• Positive Sentiment: Caterpillar maintained its quarterly dividend at $1.63 per share, payable November 19 to shareholders of record October 19. The company has paid annual cash dividends since its founding and quarterly dividends since 1933. Caterpillar Inc. Maintains Dividend

Caterpillar Trading Down 3.3%

CAT stock opened at $747.18 on Thursday. The firm has a fifty day moving average price of $816.99 and a 200 day moving average price of $855.96. Caterpillar Inc. has a fifty-two week low of $510.21 and a fifty-two week high of $1,073.46. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.85 and a current ratio of 1.37. The firm has a market cap of $343.46 billion, a PE ratio of 32.15, a price-to-earnings-growth ratio of 1.33 and a beta of 1.58.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, August 4th. The industrial products company reported $8.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.22 by $1.95. The company had revenue of $20.54 billion for the quarter, compared to the consensus estimate of $19.34 billion. Caterpillar had a net margin of 14.51% and a return on equity of 55.53%. Caterpillar’s revenue was up 23.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.72 earnings per share. Sell-side analysts anticipate that Caterpillar Inc. will post 27.49 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Monday, October 19th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, October 19th. Caterpillar’s dividend payout ratio (DPR) is presently 28.06%.

Insider Buying and Selling at Caterpillar

In other news, CEO Joseph E. Creed sold 32,401 shares of the business’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $808.98, for a total value of $26,211,760.98. Following the sale, the chief executive officer directly owned 34,555 shares in the company, valued at $27,954,303.90. The trade was a 48.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.33% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CAT has been the subject of several recent research reports. UBS Group boosted their price target on Caterpillar from $900.00 to $925.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. JPMorgan Chase & Co. upped their price target on Caterpillar from $1,125.00 to $1,165.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 17th. Truist Financial reduced their target price on shares of Caterpillar from $1,225.00 to $1,100.00 and set a “buy” rating for the company in a report on Monday, October 5th. Robert W. Baird set a $970.00 price target on shares of Caterpillar in a research report on Wednesday, August 5th. Finally, Royal Bank Of Canada upped their target price on shares of Caterpillar from $877.00 to $897.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 5th. Fifteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $967.83.

About Caterpillar

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. Its products are used in infrastructure development, construction, mining, energy production, transportation, agriculture, forestry, and other industrial applications.

The company markets equipment and related services through a worldwide network of independent dealers. Its operations are generally organized around Construction Industries, Resource Industries, and Energy & Transportation.