Oak Associates Ltd. OH Invests $225,000 in Caterpillar Inc. $CAT

Oak Associates Ltd. OH acquired a new stake in Caterpillar Inc. (NYSE:CAT) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 579 shares of the industrial products company’s stock, valued at approximately $225,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Caterpillar in the second quarter worth about $28,000. Family Legacy Financial Solutions LLC purchased a new position in Caterpillar in the 2nd quarter worth approximately $32,000. Harbor Asset Planning Inc. acquired a new position in shares of Caterpillar during the 2nd quarter worth approximately $34,000. Compass Financial Services Inc grew its position in shares of Caterpillar by 49.2% in the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 31 shares in the last quarter. Finally, Maseco LLP acquired a new stake in shares of Caterpillar in the second quarter valued at approximately $45,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CAT shares. Robert W. Baird raised their target price on Caterpillar from $612.00 to $680.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Wells Fargo & Company assumed coverage on shares of Caterpillar in a research report on Thursday, November 13th. They set an “overweight” rating and a $675.00 price objective for the company. Evercore ISI boosted their target price on shares of Caterpillar from $476.00 to $630.00 and gave the company an “outperform” rating in a report on Monday, November 17th. UBS Group raised 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. Finally, Argus upped their price objective on Caterpillar from $460.00 to $625.00 and gave the company a “buy” rating in a report on Wednesday, November 19th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Caterpillar has a consensus rating of “Moderate Buy” and a consensus target price of $610.32.

Insider Buying and Selling at Caterpillar

In other news, insider Jason Kaiser sold 10,707 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $563.60, for a total value of $6,034,465.20. Following the completion of the transaction, the insider owned 8,649 shares of the company’s stock, valued at approximately $4,874,576.40. This trade represents a 55.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Lange Bob De sold 14,638 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The stock was 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 approximately $45,106,333.24. The trade was a 15.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 86,229 shares of company stock valued at $43,323,118. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Stock Performance

NYSE:CAT opened at $560.05 on Tuesday. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $596.21. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.81 and a current ratio of 1.38. The company has a 50 day moving average price of $521.18 and a 200 day moving average price of $438.34. The stock has a market capitalization of $262.09 billion, a P/E ratio of 28.75, a PEG ratio of 3.33 and a beta of 1.51.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $4.95 EPS for the quarter, topping analysts’ consensus estimates of $4.52 by $0.43. The company had revenue of $17.64 billion for the quarter, compared to analysts’ expectations of $16.72 billion. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The firm’s revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.17 earnings per share. Equities research analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Monday, October 20th were paid a dividend of $1.51 per share. The ex-dividend date was Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a yield of 1.1%. Caterpillar’s dividend payout ratio is 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.