Caterpillar Inc. $CAT Shares Sold by Keeler Thomas Management LLC

Keeler Thomas Management LLC reduced its position in Caterpillar Inc. (NYSE:CAT) by 86.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,165 shares of the industrial products company’s stock after selling 7,158 shares during the period. Keeler Thomas Management LLC’s holdings in Caterpillar were worth $452,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Valeo Financial Advisors LLC raised its holdings in shares of Caterpillar by 36,842.1% during the 2nd quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock valued at $2,833,836,000 after buying an additional 7,279,991 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Caterpillar by 2,723.1% during the 1st quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company’s stock valued at $466,430,000 after buying an additional 1,364,183 shares during the period. Nuveen LLC purchased a new stake in shares of Caterpillar during the 1st quarter valued at about $391,788,000. Assenagon Asset Management S.A. raised its holdings in shares of Caterpillar by 546.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 843,093 shares of the industrial products company’s stock valued at $327,297,000 after buying an additional 712,711 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Caterpillar by 9.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company’s stock valued at $1,064,951,000 after buying an additional 268,300 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Price Performance

Shares of NYSE CAT opened at $522.13 on Friday. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $544.99. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $244.61 billion, a price-to-earnings ratio of 26.56, a price-to-earnings-growth ratio of 2.96 and a beta of 1.46. The business has a 50 day simple moving average of $464.46 and a 200-day simple moving average of $398.36.

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

Caterpillar Dividend Announcement

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

Insider Activity at Caterpillar

In related news, Director Susan C. Schwab sold 2,324 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the transaction, the director owned 6,917 shares in the company, valued at $2,835,970. The trade was a 25.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the business’s stock in a transaction that occurred 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 transaction, 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 disclosure for this sale can be found here. Insiders sold 55,985 shares of company stock worth $25,559,300 in the last 90 days. 0.33% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CAT shares. Evercore ISI upgraded Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 target price on the stock in a report on Tuesday, August 19th. UBS Group raised their target price on Caterpillar from $450.00 to $506.00 and gave the company a “neutral” rating in a report on Monday, October 13th. Truist Financial lifted their price objective on Caterpillar from $507.00 to $582.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Erste Group Bank upgraded Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Finally, Melius Research upgraded Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price objective on the stock in a report on Wednesday, July 9th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $518.19.

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.