Capital Investment Counsel Inc Has $5.23 Million Stock Holdings in Caterpillar Inc. $CAT

Capital Investment Counsel Inc trimmed its holdings in Caterpillar Inc. (NYSE:CAT) by 1.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,474 shares of the industrial products company’s stock after selling 262 shares during the period. Caterpillar comprises about 0.7% of Capital Investment Counsel Inc’s holdings, making the stock its 26th largest position. Capital Investment Counsel Inc’s holdings in Caterpillar were worth $5,231,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Valeo Financial Advisors LLC boosted its stake in 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 purchasing an additional 7,279,991 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Caterpillar by 6.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,204,445 shares of the industrial products company’s stock valued at $1,386,626,000 after purchasing an additional 264,054 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Caterpillar by 0.5% during the first 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 buying an additional 15,347 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Caterpillar by 9.1% during the first quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company’s stock worth $1,064,951,000 after buying an additional 268,300 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Caterpillar by 5.0% during the first quarter. Invesco Ltd. now owns 3,141,936 shares of the industrial products company’s stock worth $1,036,211,000 after buying an additional 150,533 shares in the last quarter. 70.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

CAT has been the topic of several recent analyst reports. Royal Bank Of Canada assumed coverage on Caterpillar in a research note on Wednesday, October 22nd. They set a “sector perform” rating and a $560.00 price objective on the stock. Truist Financial reissued a “buy” rating and set a $729.00 price target (up from $582.00) on shares of Caterpillar in a research report on Thursday, October 30th. UBS Group boosted their price target on shares of Caterpillar from $506.00 to $581.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. Erste Group Bank upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Finally, HSBC raised shares of Caterpillar from a “hold” rating to a “buy” rating and lifted their target price for the stock from $405.00 to $660.00 in a research report on Wednesday, November 5th. Three analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $596.59.

Insider Buying and Selling at Caterpillar

In related news, insider Anthony D. Fassino sold 8,184 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $570.18, for a total transaction of $4,666,353.12. Following the sale, the insider directly owned 41,512 shares in the company, valued at approximately $23,669,312.16. This represents a 16.47% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO William E. Schaupp sold 1,200 shares of Caterpillar stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $572.22, for a total transaction 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 $757,047.06. This represents a 47.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 77,846 shares of company stock valued at $38,241,493. Insiders own 0.33% of the company’s stock.

Caterpillar Trading Up 0.9%

Shares of CAT stock opened at $573.22 on Thursday. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 1.34. The firm has a market cap of $268.25 billion, a P/E ratio of 29.43, a PEG ratio of 3.33 and a beta of 1.51. The company has a 50 day moving average of $501.01 and a 200-day moving average of $424.34. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $596.21.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share 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 business had revenue of $17.64 billion during the quarter, compared to analyst estimates of $16.72 billion. During the same period in the prior year, the company earned $5.17 earnings per share. Caterpillar’s revenue was up 9.5% compared to the same quarter last year. Sell-side analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors 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 1.1%. The ex-dividend date is Monday, October 20th. Caterpillar’s payout ratio is currently 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.