17,678 Shares in Caterpillar Inc. $CAT Acquired by Pure Financial Advisors LLC

Key Points

• Pure Financial Advisors acquired 17,678 Caterpillar shares worth approximately $18.8 million in the second quarter, while institutional investors collectively own 70.98% of the company.
• Caterpillar reported a strong quarter, with earnings of $8.17 per share and revenue of $20.54 billion, beating analyst estimates; revenue rose 23.7% year over year.
• The company increased its quarterly dividend to $1.63 per share, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $995.52.

Pure Financial Advisors LLC bought a new position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,678 shares of the industrial products company's stock, valued at approximately $18,826,000. Caterpillar accounts for 0.2% of Pure Financial Advisors LLC's holdings, making the stock its 26th largest position.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Lam Group Inc. purchased a new stake in shares of Caterpillar during the 1st quarter worth $26,000. Frazier Financial Advisors LLC boosted its position in Caterpillar by 220.0% during the fourth quarter. Frazier Financial Advisors LLC now owns 48 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 33 shares in the last quarter. Decker Retirement Planning Inc. grew its stake in Caterpillar by 440.0% in the second quarter. Decker Retirement Planning Inc. now owns 27 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 22 shares during the last quarter. Cornerstone Financial Management LLC bought a new position in Caterpillar in the fourth quarter worth about $32,000. Finally, Matrix Trust Co raised its holdings in Caterpillar by 93.8% in the second quarter. Matrix Trust Co now owns 31 shares of the industrial products company's stock worth $33,000 after purchasing an additional 15 shares in the last quarter. Institutional investors own 70.98% of the company's stock.

Caterpillar Stock Performance

CAT opened at $813.51 on Tuesday. The company has a market cap of $373.95 billion, a P/E ratio of 35.00, a price-to-earnings-growth ratio of 1.41 and a beta of 1.60. The company has a quick ratio of 0.85, a current ratio of 1.37 and a debt-to-equity ratio of 1.65. The firm's 50-day moving average price is $868.12 and its 200-day moving average price is $839.26. Caterpillar Inc. has a 52-week low of $416.44 and a 52-week high of $1,073.46.

Caterpillar (NYSE:CAT - Get Free Report) last released its earnings results on Tuesday, August 4th. The industrial products company reported $8.17 EPS for the quarter, topping analysts' consensus estimates of $6.22 by $1.95. The company had revenue of $20.54 billion during the quarter, compared to analysts' expectations of $19.34 billion. Caterpillar had a net margin of 14.51% and a return on equity of 55.53%. Caterpillar's revenue for the quarter was up 23.7% on a year-over-year basis. During the same period last year, the business earned $4.72 EPS. As a group, equities analysts anticipate that Caterpillar Inc. will post 27.34 EPS for the current fiscal year.

Caterpillar Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Monday, July 20th were paid a dividend of $1.63 per share. The ex-dividend date was Monday, July 20th. This is an increase from Caterpillar's previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a dividend yield of 0.8%. Caterpillar's payout ratio is presently 28.06%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Evercore restated an "outperform" rating and issued a $1,103.00 price target on shares of Caterpillar in a report on Monday, May 11th. Barclays boosted their price objective on shares of Caterpillar from $800.00 to $900.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 6th. Citigroup increased their target price on shares of Caterpillar from $1,020.00 to $1,100.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Weiss Ratings raised shares of Caterpillar from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, August 19th. Finally, Truist Financial set a $980.00 price target on Caterpillar in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, Caterpillar has a consensus rating of "Moderate Buy" and a consensus price target of $995.52.

Insider Buying and Selling at Caterpillar

In other news, CEO Joseph E. Creed sold 32,401 shares of the business's stock in a transaction on Friday, August 28th. The shares were sold at an average price of $808.98, for a total transaction of $26,211,760.98. Following the sale, the chief executive officer directly owned 34,555 shares of the company's stock, valued at $27,954,303.90. The trade was a 48.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is owned by company insiders.

Caterpillar Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company's product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.

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