Caterpillar Inc. $CAT Shares Sold by Studio Investment Management LLC

Studio Investment Management LLC trimmed its holdings in Caterpillar Inc. (NYSE:CAT) by 6.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,739 shares of the industrial products company’s stock after selling 932 shares during the period. Caterpillar comprises approximately 1.0% of Studio Investment Management LLC’s holdings, making the stock its 25th largest holding. Studio Investment Management LLC’s holdings in Caterpillar were worth $4,945,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in CAT. Pacific Point Advisors LLC acquired a new position in shares of Caterpillar in the 4th quarter valued at approximately $579,000. Brighton Jones LLC raised its position in shares of Caterpillar by 51.5% in the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock valued at $2,688,000 after purchasing an additional 2,519 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Caterpillar by 32.0% in the 1st quarter. GAMMA Investing LLC now owns 11,311 shares of the industrial products company’s stock valued at $3,730,000 after acquiring an additional 2,745 shares during the last quarter. Valmark Advisers Inc. increased its holdings in shares of Caterpillar by 2.6% in the 1st quarter. Valmark Advisers Inc. now owns 3,413 shares of the industrial products company’s stock valued at $1,126,000 after acquiring an additional 86 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings in shares of Caterpillar by 2.7% in the 1st quarter. Asset Management One Co. Ltd. now owns 318,875 shares of the industrial products company’s stock valued at $105,165,000 after acquiring an additional 8,271 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Price Performance

Shares of CAT opened at $524.95 on Wednesday. The company has a market cap of $245.93 billion, a P/E ratio of 26.70, a PEG ratio of 3.02 and a beta of 1.46. The stock has a fifty day moving average price of $458.10 and a 200 day moving average price of $394.14. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $544.99.

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

Caterpillar Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Erste Group Bank upgraded Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Bank of America boosted their price target on Caterpillar from $517.00 to $594.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Truist Financial boosted their price target on Caterpillar from $507.00 to $582.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Robert W. Baird boosted their price target on Caterpillar from $540.00 to $612.00 in a report on Monday. Finally, Sanford C. Bernstein boosted their price target on Caterpillar from $447.00 to $502.00 and gave the company a “market perform” rating in a report on Tuesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $515.40.

Insider Transactions at Caterpillar

In other news, insider Jason Kaiser sold 2,161 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of the transaction, the insider owned 8,632 shares of the company’s stock, valued at approximately $3,605,586.40. This represents a 20.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total value of $7,088,152.16. Following the completion of the sale, the chairman owned 482,505 shares of the company’s stock, valued at approximately $199,211,839.35. This trade represents a 3.44% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,985 shares of company stock valued at $25,559,300. 0.33% of the stock is currently owned by corporate insiders.

About Caterpillar

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.