Envestnet Asset Management Inc. Has $185.13 Million Holdings in Caterpillar Inc. $CAT

Envestnet Asset Management Inc. lifted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 3.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 476,877 shares of the industrial products company’s stock after buying an additional 13,669 shares during the period. Envestnet Asset Management Inc.’s holdings in Caterpillar were worth $185,127,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CAT. Valeo Financial Advisors LLC increased its holdings in Caterpillar by 36,842.1% in the second 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 period. Pacer Advisors Inc. increased its holdings in Caterpillar by 2,723.1% in the first quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company’s stock valued at $466,430,000 after purchasing an additional 1,364,183 shares during the period. Nuveen LLC acquired a new stake in Caterpillar in the first quarter valued at $391,788,000. Assenagon Asset Management S.A. increased its holdings in Caterpillar by 546.6% in the second quarter. Assenagon Asset Management S.A. now owns 843,093 shares of the industrial products company’s stock valued at $327,297,000 after purchasing an additional 712,711 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in Caterpillar by 9.1% in the first quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company’s stock valued at $1,064,951,000 after purchasing an additional 268,300 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Caterpillar

In related news, Director Susan C. Schwab sold 2,324 shares of the firm’s stock in a transaction dated 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 owned 6,917 shares of the company’s stock, valued at approximately $2,835,970. This trade represents a 25.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Donald J. Umpleby III sold 17,168 shares of Caterpillar stock in a transaction that occurred 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 in the company, valued at approximately $199,211,839.35. This represents a 3.44% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,985 shares of company stock valued at $25,559,300. 0.33% of the stock is owned by corporate insiders.

Caterpillar Price Performance

Shares of NYSE CAT opened at $527.12 on Tuesday. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $544.99. The stock has a market cap of $246.95 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 2.98 and a beta of 1.46. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. The firm’s 50-day simple moving average is $466.75 and its 200 day simple moving average is $401.50.

Caterpillar (NYSE:CAT) last announced 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). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The business had revenue of $16.57 billion during the quarter, compared to the consensus estimate of $16.14 billion. During the same period in the previous year, the business posted $5.99 EPS. Caterpillar’s revenue was down .7% compared to the same quarter last year. As a group, research analysts anticipate 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 $1.51 dividend. The ex-dividend date of this dividend is Monday, October 20th. This represents a $6.04 annualized dividend and a yield of 1.1%. Caterpillar’s dividend payout ratio (DPR) is presently 30.72%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CAT. Truist Financial increased their price objective on Caterpillar from $507.00 to $582.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Royal Bank Of Canada assumed coverage on Caterpillar in a report on Wednesday, October 22nd. They issued a “sector perform” rating and a $560.00 price objective for the company. Robert W. Baird increased their price target on Caterpillar from $540.00 to $612.00 in a report on Monday, October 20th. Bank of America increased their price target on Caterpillar from $517.00 to $594.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Finally, DA Davidson increased their price target on Caterpillar from $331.00 to $388.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have given a Hold 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 $518.19.

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.