Live Oak Investment Partners Makes New $1.31 Million Investment in Caterpillar Inc. $CAT

Live Oak Investment Partners bought a new stake in Caterpillar Inc. (NYSE:CAT) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 2,737 shares of the industrial products company’s stock, valued at approximately $1,306,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Abacus Planning Group Inc. grew its stake in Caterpillar by 0.6% in the 3rd quarter. Abacus Planning Group Inc. now owns 3,214 shares of the industrial products company’s stock valued at $1,534,000 after acquiring an additional 20 shares during the last quarter. Coastwise Capital Group LLC grew its position in shares of Caterpillar by 1.8% in the third quarter. Coastwise Capital Group LLC now owns 1,168 shares of the industrial products company’s stock valued at $557,000 after purchasing an additional 21 shares during the last quarter. Live Oak Private Wealth LLC increased its stake in shares of Caterpillar by 0.7% during the 3rd quarter. Live Oak Private Wealth LLC now owns 3,525 shares of the industrial products company’s stock worth $1,682,000 after purchasing an additional 23 shares in the last quarter. Syntegra Private Wealth Group LLC increased its stake in shares of Caterpillar by 2.4% during the 3rd quarter. Syntegra Private Wealth Group LLC now owns 1,037 shares of the industrial products company’s stock worth $495,000 after purchasing an additional 24 shares in the last quarter. Finally, Coastline Trust Co raised its position in shares of Caterpillar by 0.4% during the 3rd quarter. Coastline Trust Co now owns 6,530 shares of the industrial products company’s stock worth $3,116,000 after purchasing an additional 24 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wolfe Research raised their price target on Caterpillar from $470.00 to $670.00 and gave the stock an “outperform” rating in a research report on Friday, January 2nd. Wells Fargo & Company initiated coverage on Caterpillar in a research note on Thursday, November 13th. They set an “overweight” rating and a $675.00 price objective on the stock. UBS Group lifted their price objective on Caterpillar from $506.00 to $581.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. Oppenheimer upped their target price on shares of Caterpillar from $513.00 to $645.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Finally, Truist Financial reiterated a “buy” rating and issued a $729.00 price target (up from $582.00) on shares of Caterpillar in a report on Thursday, October 30th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $623.10.

Insider Activity

In related news, Director David Maclennan bought 300 shares of the firm’s stock in a transaction dated Thursday, November 6th. The stock was bought at an average price of $568.86 per share, with a total value of $170,658.00. Following the completion of the transaction, the director directly owned 7,947 shares of the company’s stock, valued at approximately $4,520,730.42. This represents a 3.92% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lange Bob De sold 14,638 shares of the stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $562.36, for a total value of $8,231,825.68. Following the completion of the sale, the insider owned 80,209 shares of the company’s stock, valued at approximately $45,106,333.24. This trade represents a 15.43% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 54,729 shares of company stock worth $31,084,308 in the last quarter. Insiders own 0.33% of the company’s stock.

Caterpillar Stock Down 0.0%

Shares of NYSE CAT opened at $646.95 on Tuesday. The stock has a market capitalization of $302.76 billion, a PE ratio of 33.21, a P/E/G ratio of 2.50 and a beta of 1.57. The company has a quick ratio of 0.86, a current ratio of 1.38 and a debt-to-equity ratio of 1.34. The firm has a fifty day moving average of $588.42 and a 200-day moving average of $505.37. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $655.68.

Caterpillar (NYSE:CAT) last posted its earnings results on Monday, November 3rd. The industrial products company reported $4.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.52 by $0.43. The firm had revenue of $17.64 billion during the quarter, compared to the consensus estimate of $16.72 billion. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The company’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.17 EPS. On average, analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Tuesday, January 20th will be issued a dividend of $1.51 per share. The ex-dividend date is Tuesday, January 20th. This represents a $6.04 annualized dividend and a dividend yield of 0.9%. Caterpillar’s payout ratio is presently 31.01%.

About Caterpillar

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.