Connor Clark & Lunn Investment Management Ltd. Acquires 15,259 Shares of Caterpillar Inc. $CAT

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 5.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 271,915 shares of the industrial products company’s stock after buying an additional 15,259 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Caterpillar were worth $105,560,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Caterpillar in the 2nd quarter worth approximately $28,000. Compass Financial Services Inc boosted its holdings in Caterpillar by 49.2% in the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 31 shares in the last quarter. Family Legacy Financial Solutions LLC purchased a new stake in shares of Caterpillar in the second quarter worth $32,000. Harbor Asset Planning Inc. bought a new position in shares of Caterpillar during the second quarter valued at $34,000. Finally, Total Wealth Planning & Management Inc. purchased a new position in shares of Caterpillar in the 2nd quarter worth about $38,000. Institutional investors own 70.98% of the company’s stock.

Insider Activity at Caterpillar

In related news, CAO William E. Schaupp sold 1,200 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $572.22, for a total transaction of $686,664.00. Following the completion of the sale, the chief accounting officer directly owned 1,323 shares in the company, valued at approximately $757,047.06. The trade was a 47.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Susan C. Schwab sold 2,324 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the transaction, the director 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 is available in the SEC filing. Insiders sold a total of 71,823 shares of company stock valued at $34,477,790 in the last three months. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Price Performance

Shares of CAT opened at $562.82 on Friday. The firm has a fifty day simple moving average of $491.77 and a two-hundred day simple moving average of $418.73. The firm has a market cap of $263.39 billion, a PE ratio of 28.89, a P/E/G ratio of 3.33 and a beta of 1.51. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 1.34. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $596.21.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $4.95 EPS for the quarter, topping the consensus estimate of $4.52 by $0.43. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The company had revenue of $17.64 billion during the quarter, compared to analyst estimates of $16.72 billion. During the same quarter in the previous year, the company posted $5.17 earnings per share. Caterpillar’s revenue was up 9.5% compared to the same quarter last year. On average, equities analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be paid a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Monday, October 20th. Caterpillar’s dividend payout ratio is 31.01%.

Wall Street Analyst Weigh In

Several analysts recently commented on CAT shares. Truist Financial reissued a “buy” rating and set a $729.00 price objective (up from $582.00) on shares of Caterpillar in a research report on Thursday, October 30th. HSBC upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and increased their price target for the company from $405.00 to $660.00 in a report on Wednesday. Barclays boosted their price objective on shares of Caterpillar from $485.00 to $555.00 and gave the stock an “equal weight” rating in a report on Thursday, October 30th. Jefferies Financial Group increased their target price on Caterpillar from $570.00 to $700.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Royal Bank Of Canada began coverage on Caterpillar in a research note on Wednesday, October 22nd. They issued a “sector perform” rating and a $560.00 price target for the company. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Caterpillar presently has an average rating of “Moderate Buy” and an average target price of $596.59.

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.