Birmingham Capital Management Co. Inc. AL Has $15.52 Million Stock Position in Caterpillar Inc. $CAT

Birmingham Capital Management Co. Inc. AL decreased its holdings in Caterpillar Inc. (NYSE:CAT) by 3.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 39,980 shares of the industrial products company’s stock after selling 1,545 shares during the quarter. Caterpillar accounts for approximately 6.9% of Birmingham Capital Management Co. Inc. AL’s holdings, making the stock its 2nd largest position. Birmingham Capital Management Co. Inc. AL’s holdings in Caterpillar were worth $15,521,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of CAT. Trivium Point Advisory LLC lifted its holdings in shares of Caterpillar by 132.9% in the second 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. lifted its holdings in shares of Caterpillar by 9.9% in the first 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 lifted its holdings in shares of Caterpillar by 11.2% in the second 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 acquired a new stake in shares of Caterpillar in the first quarter valued at $427,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Caterpillar by 0.5% in 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 period. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Down 2.5%

NYSE:CAT opened at $527.41 on Monday. The firm has a market capitalization of $247.08 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 3.00 and a beta of 1.46. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $544.99. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. The business’s fifty day moving average price is $453.38 and its 200 day moving average price is $391.52.

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

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s payout ratio is presently 30.72%.

Insider Activity at Caterpillar

In related news, Chairman Donald J. Umpleby III sold 17,168 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the transaction, the chairman directly owned 482,505 shares of the company’s stock, valued at approximately $199,211,839.35. The trade was a 3.44% 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 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 transaction, the director directly owned 6,917 shares in the company, valued at $2,835,970. The trade was 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 55,985 shares of company stock valued at $25,559,300. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on CAT shares. Erste Group Bank upgraded Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. UBS Group upped their price objective on Caterpillar from $450.00 to $506.00 and gave the company a “neutral” rating in a report on Monday, October 13th. Melius raised Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 target price for the company in a report on Wednesday, July 9th. Truist Financial upped their target price on Caterpillar from $507.00 to $582.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Finally, Evercore ISI raised Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 target price for the company in a report on Tuesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $510.60.

Caterpillar Company 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.