561 Shares in Caterpillar Inc. $CAT Acquired by Cascade Investment Group Inc.

Key Points

• Cascade Investment Group Inc. purchased 561 shares of Caterpillar Inc. in Q2, valued at approximately $218,000, reflecting growing institutional interest in the company.
• Caterpillar's latest earnings report showed a miss on earnings per share at $4.72, while revenue was slightly above expectations at $16.57 billion, indicating mixed financial performance.
• The company declared a quarterly dividend of $1.51 per share, set to be paid on November 20th, with an annualized dividend yield of 1.2%.

Cascade Investment Group Inc. purchased a new position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 561 shares of the industrial products company's stock, valued at approximately $218,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Compass Financial Services Inc lifted its stake in shares of Caterpillar by 49.2% during the 1st 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 during the last quarter. Family Legacy Financial Solutions LLC bought a new stake in shares of Caterpillar during the 2nd quarter worth approximately $32,000. Redmont Wealth Advisors LLC bought a new stake in shares of Caterpillar during the 1st quarter worth approximately $33,000. Total Wealth Planning & Management Inc. bought a new stake in shares of Caterpillar during the 2nd quarter worth approximately $38,000. Finally, Fiduciary Wealth Partners LLC bought a new stake in shares of Caterpillar during the 1st quarter worth approximately $45,000. 70.98% of the stock is owned by institutional investors.

Caterpillar Stock Down 0.4%

Shares of CAT stock opened at $500.10 on Friday. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $509.48. The stock's fifty day moving average price is $441.97 and its 200 day moving average price is $382.85. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. The company has a market cap of $234.29 billion, a price-to-earnings ratio of 25.44, a price-to-earnings-growth ratio of 3.05 and a beta of 1.46.

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

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.2%. The ex-dividend date is Monday, October 20th. Caterpillar's payout ratio is 30.72%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Evercore ISI raised Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 price target for the company in a research note on Tuesday, August 19th. Erste Group Bank raised Caterpillar from a "hold" rating to a "buy" rating in a research report on Friday, October 3rd. Oppenheimer lifted their target price on Caterpillar from $480.00 to $513.00 and gave the company an "outperform" rating in a research report on Monday, September 29th. Truist Financial lifted their target price on Caterpillar from $507.00 to $582.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. lifted their target price on Caterpillar from $475.00 to $520.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $478.20.

Insider Buying and Selling

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the business's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the business's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total value of $7,088,152.16. Following the sale, the chairman owned 482,505 shares in the company, valued at approximately $199,211,839.35. The trade was a 3.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,819 shares of company stock worth $16,885,492 in the last ninety days. 0.33% of the stock is owned by insiders.

About Caterpillar

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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