Purkiss Capital Advisors LLC Purchases 150 Shares of Caterpillar Inc. $CAT

Purkiss Capital Advisors LLC raised its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 8.7% in the 2nd quarter, Holdings Channel.com reports. The fund owned 1,866 shares of the industrial products company’s stock after buying an additional 150 shares during the period. Purkiss Capital Advisors LLC’s holdings in Caterpillar were worth $724,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Pacific Point Advisors LLC bought a new position in shares of Caterpillar in the 4th quarter valued at about $579,000. Brighton Jones LLC boosted its position in Caterpillar by 51.5% during the fourth 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 during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Caterpillar by 26.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 133,397 shares of the industrial products company’s stock valued at $44,097,000 after purchasing an additional 27,623 shares in the last quarter. Golden State Wealth Management LLC raised its stake in shares of Caterpillar by 7.0% during the 1st quarter. Golden State Wealth Management LLC now owns 3,558 shares of the industrial products company’s stock worth $1,174,000 after purchasing an additional 232 shares in the last quarter. Finally, Hills Bank & Trust Co boosted its holdings in shares of Caterpillar by 8.9% in the 1st quarter. Hills Bank & Trust Co now owns 1,249 shares of the industrial products company’s stock valued at $412,000 after buying an additional 102 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

CAT has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Caterpillar from $505.00 to $650.00 and gave the stock an “overweight” rating in a report on Tuesday, October 14th. 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. Jefferies Financial Group lifted their price target on Caterpillar from $500.00 to $570.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Sanford C. Bernstein upped their price objective on Caterpillar from $447.00 to $502.00 and gave the company a “market perform” rating in a research note on Tuesday, October 14th. Finally, Truist Financial lifted their target price on Caterpillar from $507.00 to $582.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $518.19.

Caterpillar Trading Up 0.8%

Shares of NYSE:CAT opened at $527.12 on Tuesday. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $544.99. The business has a 50 day moving average of $466.75 and a 200-day moving average of $401.50. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. The stock has a market cap of $246.95 billion, a PE ratio of 26.81, a P/E/G ratio of 2.98 and a beta of 1.46.

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 analyst estimates of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the previous year, the business posted $5.99 earnings per share. As a group, equities research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be given a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s payout ratio is presently 30.72%.

Insider Activity at Caterpillar

In related news, Director Susan C. Schwab sold 2,324 shares of the firm’s 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 transaction, the director directly owned 6,917 shares of the company’s stock, valued at approximately $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jason Kaiser sold 2,161 shares of the business’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the sale, the insider directly owned 8,632 shares of the company’s stock, valued at $3,605,586.40. This represents a 20.02% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,985 shares of company stock worth $25,559,300. 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.