IFC Advisors LLC Buys 119 Shares of Caterpillar Inc. $CAT

IFC Advisors LLC lifted its holdings in Caterpillar Inc. (NYSE:CAT) by 2.3% during the second quarter, HoldingsChannel reports. The firm owned 5,186 shares of the industrial products company’s stock after purchasing an additional 119 shares during the period. IFC Advisors LLC’s holdings in Caterpillar were worth $2,013,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in CAT. Trivium Point Advisory LLC boosted its holdings in Caterpillar by 132.9% during the second 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. raised its position in Caterpillar by 9.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company’s stock worth $26,037,000 after purchasing an additional 7,125 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in shares of Caterpillar by 11.2% during 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 valued at $5,557,000 after acquiring an additional 1,440 shares during the last quarter. Ransom Advisory Ltd bought a new stake in shares of Caterpillar during the 1st quarter valued at $427,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Caterpillar by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company’s stock valued at $1,089,798,000 after acquiring an additional 15,347 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Truist Financial boosted their price target on shares of Caterpillar from $507.00 to $582.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. JPMorgan Chase & Co. increased their price objective on shares of Caterpillar from $475.00 to $520.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 6th. Oppenheimer upped their target price on shares of Caterpillar from $480.00 to $513.00 and gave the company an “outperform” rating in a report on Monday, September 29th. Melius Research raised shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price target on the stock in a report on Wednesday, July 9th. Finally, Bank of America increased their target price on shares of Caterpillar from $495.00 to $517.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $488.13.

Caterpillar Trading Up 2.8%

CAT opened at $505.11 on Tuesday. The company has a market cap of $236.64 billion, a P/E ratio of 25.69, a price-to-earnings-growth ratio of 3.01 and a beta of 1.46. The company has a fifty day moving average price of $444.65 and a two-hundred day moving average price of $385.71. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $511.50. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing the consensus estimate of $4.88 by ($0.16). The firm had revenue of $16.57 billion for the quarter, compared to analysts’ expectations of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter last year, the firm posted $5.99 earnings per share. Analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s payout ratio is currently 30.72%.

Insiders Place Their Bets

In other Caterpillar news, Chairman Donald J. Umpleby III sold 17,168 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the completion of the sale, the chairman owned 482,505 shares of the company’s stock, valued at $199,211,839.35. This represents a 3.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Susan C. Schwab sold 2,324 shares of Caterpillar stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $410.00, for a total transaction of $952,840.00. Following the sale, the director directly owned 6,917 shares in the company, valued at $2,835,970. The trade was a 25.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,819 shares of company stock valued at $16,885,492 in the last quarter. Corporate insiders own 0.33% of the company’s stock.

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.