Future Fund LLC Sells 357 Shares of Caterpillar Inc. $CAT

Future Fund LLC lowered its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 14.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,089 shares of the industrial products company’s stock after selling 357 shares during the quarter. Future Fund LLC’s holdings in Caterpillar were worth $811,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Pacific Point Advisors LLC bought a new position in Caterpillar in the 4th quarter worth about $579,000. Brighton Jones LLC raised its stake in shares of 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 acquiring an additional 2,519 shares in the last quarter. TruNorth Capital Management LLC boosted its holdings in shares of Caterpillar by 40.7% in the first quarter. TruNorth Capital Management LLC now owns 204 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 59 shares during the period. Schear Investment Advisers LLC grew its stake in Caterpillar by 1.7% in the first quarter. Schear Investment Advisers LLC now owns 6,981 shares of the industrial products company’s stock worth $2,302,000 after purchasing an additional 117 shares in the last quarter. Finally, Hughes Financial Services LLC purchased a new position in Caterpillar during the 1st quarter worth $73,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Transactions at Caterpillar

In other Caterpillar news, CAO William E. Schaupp sold 1,200 shares of the firm’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $572.22, for a total value of $686,664.00. Following the completion of the transaction, the chief accounting officer owned 1,323 shares of the company’s stock, valued at approximately $757,047.06. This trade represents a 47.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Lange Bob De sold 14,638 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $562.36, for a total transaction of $8,231,825.68. Following the sale, the insider directly owned 80,209 shares in the company, valued at $45,106,333.24. This trade represents a 15.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 69,662 shares of company stock worth $33,575,140 over the last ninety days. 0.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. HSBC upgraded Caterpillar from a “hold” rating to a “buy” rating and upped their target price for the stock from $405.00 to $660.00 in a report on Wednesday. JPMorgan Chase & Co. lifted their price objective on Caterpillar from $650.00 to $730.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Robert W. Baird increased their target price on shares of Caterpillar from $612.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Truist Financial reissued a “buy” rating and set a $729.00 target price (up previously from $582.00) on shares of Caterpillar in a research report on Thursday, October 30th. Finally, Bank of America upped their price target on shares of Caterpillar from $594.00 to $650.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Three analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $596.59.

Caterpillar Price Performance

Shares of CAT opened at $562.82 on Monday. The company has a 50 day moving average of $491.77 and a two-hundred day moving average of $419.59. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 1.34. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $596.21. The company has a market cap of $263.39 billion, a price-to-earnings ratio of 28.89, a price-to-earnings-growth ratio of 3.33 and a beta of 1.51.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $4.95 EPS for the quarter, beating the consensus estimate of $4.52 by $0.43. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The firm had revenue of $17.64 billion during the quarter, compared to analyst estimates of $16.72 billion. During the same quarter in the prior year, the business posted $5.17 EPS. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. As a group, analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

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 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 dividend yield of 1.1%. Caterpillar’s payout ratio is presently 31.01%.

Caterpillar 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.