Lmcg Investments LLC Trims Position in Caterpillar Inc. $CAT

Lmcg Investments LLC lessened its stake in shares of Caterpillar Inc. (NYSE:CAT) by 4.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,756 shares of the industrial products company’s stock after selling 1,291 shares during the period. Lmcg Investments LLC’s holdings in Caterpillar were worth $10,387,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Trivium Point Advisory LLC raised its holdings in Caterpillar by 132.9% in the 2nd quarter. Trivium Point Advisory LLC now owns 1,926 shares of the industrial products company’s stock valued at $748,000 after buying an additional 1,099 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Caterpillar by 9.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company’s stock valued at $26,037,000 after buying an additional 7,125 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in Caterpillar by 11.2% in the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,315 shares of the industrial products company’s stock valued at $5,557,000 after buying an additional 1,440 shares during the period. Ransom Advisory Ltd purchased a new stake in Caterpillar in the 1st quarter valued at about $427,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Caterpillar by 0.5% in the 1st 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 period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Down 1.7%

CAT stock opened at $491.67 on Friday. The company’s 50 day moving average price is $443.23 and its 200 day moving average price is $383.88. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $511.50. The firm has a market capitalization of $230.34 billion, a price-to-earnings ratio of 25.01, a PEG ratio of 3.04 and a beta of 1.46.

Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing analysts’ consensus estimates of $4.88 by ($0.16). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The firm had revenue of $16.57 billion for the quarter, compared to analysts’ expectations of $16.14 billion. During the same quarter in the previous year, the company posted $5.99 earnings per share. The firm’s quarterly revenue was down .7% on a year-over-year basis. On average, equities research analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Monday, October 20th. Caterpillar’s dividend payout ratio is presently 30.72%.

Analysts Set New Price Targets

Several brokerages recently issued reports on CAT. Oppenheimer boosted their price objective on shares of Caterpillar from $480.00 to $513.00 and gave the company an “outperform” rating in a report on Monday, September 29th. Truist Financial lifted their target price on Caterpillar from $507.00 to $582.00 and gave the company a “buy” rating in a research report on Wednesday. Jefferies Financial Group lifted their target price on Caterpillar from $500.00 to $570.00 and gave the company a “buy” rating in a research report on Wednesday. Citigroup lifted their target price on Caterpillar from $540.00 to $570.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Erste Group Bank raised Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Caterpillar has a consensus rating of “Moderate Buy” and a consensus target price of $478.20.

Insider Buying and Selling

In related news, insider Jason Kaiser sold 2,161 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the sale, the insider directly owned 8,632 shares in the company, valued at approximately $3,605,586.40. This represents a 20.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan C. Schwab sold 2,324 shares of the company’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $410.00, for a total value of $952,840.00. Following the completion of the transaction, the director directly owned 6,917 shares of the company’s stock, valued at $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,819 shares of company stock worth $16,885,492. Company insiders own 0.33% of the company’s stock.

About Caterpillar

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.