1,109 Shares in Caterpillar Inc. $CAT Acquired by TrueMark Investments LLC

Key Points

• TrueMark Investments LLC has acquired a new position in Caterpillar Inc., purchasing 1,109 shares valued at approximately $431,000 during the 2nd quarter.
• Analysts have raised their price targets for Caterpillar stock significantly, with projections ranging from $485.00 to $650.00, reflecting strong bullish sentiment.
• Caterpillar announced a quarterly dividend of $1.51 per share, which is set to be paid on November 20th, providing a 1.1% dividend yield for stockholders.

TrueMark Investments LLC acquired a new position in Caterpillar Inc. (NYSE:CAT - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,109 shares of the industrial products company's stock, valued at approximately $431,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Caterpillar in the 2nd quarter worth approximately $47,522,000. Woodard & Co. Asset Management Group Inc. ADV boosted its holdings in Caterpillar by 4.9% in the 2nd quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 5,264 shares of the industrial products company's stock worth $2,043,000 after buying an additional 248 shares during the period. United Bank boosted its holdings in Caterpillar by 108.5% in the 2nd quarter. United Bank now owns 4,083 shares of the industrial products company's stock worth $1,585,000 after buying an additional 2,125 shares during the period. Quotient Wealth Partners LLC boosted its holdings in Caterpillar by 17.4% in the 2nd quarter. Quotient Wealth Partners LLC now owns 2,830 shares of the industrial products company's stock worth $1,098,000 after buying an additional 420 shares during the period. Finally, Citizens Business Bank boosted its holdings in Caterpillar by 2.1% in the 2nd quarter. Citizens Business Bank now owns 1,686 shares of the industrial products company's stock worth $655,000 after buying an additional 35 shares during the period. 70.98% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CAT has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Caterpillar from $505.00 to $650.00 and gave the stock an "overweight" rating in a report on Tuesday, October 14th. Citigroup increased their target price on shares of Caterpillar from $540.00 to $570.00 and gave the stock a "buy" rating in a research note on Tuesday, October 7th. Bank of America increased their target price on shares of Caterpillar from $517.00 to $594.00 and gave the stock a "buy" rating in a research note on Wednesday, October 15th. Barclays increased their target price on shares of Caterpillar from $425.00 to $485.00 and gave the stock an "equal weight" rating in a research note on Friday. Finally, Oppenheimer increased their target price on shares of Caterpillar from $480.00 to $513.00 and gave the stock an "outperform" rating in a research note on Monday, September 29th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $510.60.

Insider Activity

In related news, Director Susan C. Schwab sold 2,324 shares of Caterpillar 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 owned 6,917 shares in the company, valued at $2,835,970. This trade represents a 25.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction on Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the transaction, the insider owned 8,632 shares in the company, valued at approximately $3,605,586.40. The trade was a 20.02% 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 worth $25,559,300. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Stock Performance

Caterpillar stock opened at $527.41 on Monday. The firm's fifty day moving average price is $453.38 and its 200-day moving average price is $391.52. 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 stock has a market cap of $247.08 billion, a P/E ratio of 26.83, a price-to-earnings-growth ratio of 3.00 and a beta of 1.46. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $544.99.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $16.57 billion for the quarter, compared to analysts' expectations of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The business's quarterly revenue was down .7% compared to the same quarter last year. During the same quarter last year, the business posted $5.99 EPS. On average, equities research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be given a dividend of $1.51 per share. The ex-dividend date is Monday, October 20th. This represents a $6.04 annualized dividend and a dividend yield of 1.1%. Caterpillar's dividend payout ratio (DPR) is 30.72%.

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.

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