561 Shares in Caterpillar Inc. $CAT Purchased by Drucker Wealth 3.0 LLC

Key Points

• Drucker Wealth 3.0 LLC has acquired 561 shares of Caterpillar Inc., valued at approximately $226,000, marking a new position for the firm in the second quarter.
• Several research analysts have raised their target prices for Caterpillar, with firms like Jefferies Financial Group and Truist Financial now setting targets as high as $582.00 and maintaining "buy" ratings.
• Caterpillar recently announced a quarterly dividend of $1.51 per share, reflecting a 1.2% yield and a payout ratio of 30.72%.

Drucker Wealth 3.0 LLC acquired a new position in Caterpillar Inc. (NYSE:CAT - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 561 shares of the industrial products company's stock, valued at approximately $226,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GSB Wealth Management LLC increased its position in Caterpillar by 1.2% in the second quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company's stock worth $832,000 after purchasing an additional 26 shares during the period. Verum Partners LLC lifted its stake in Caterpillar by 2.5% in the second quarter. Verum Partners LLC now owns 1,059 shares of the industrial products company's stock valued at $411,000 after buying an additional 26 shares during the period. Vanguard Capital Wealth Advisors lifted its stake in Caterpillar by 0.8% in the second quarter. Vanguard Capital Wealth Advisors now owns 3,575 shares of the industrial products company's stock valued at $1,388,000 after buying an additional 27 shares during the period. InTrack Investment Management Inc lifted its stake in Caterpillar by 0.6% in the second quarter. InTrack Investment Management Inc now owns 4,683 shares of the industrial products company's stock valued at $1,818,000 after buying an additional 27 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in Caterpillar by 2.4% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,216 shares of the industrial products company's stock valued at $472,000 after buying an additional 29 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on CAT. Robert W. Baird increased their target price on Caterpillar from $495.00 to $540.00 and gave the company an "outperform" rating in a research note on Wednesday, September 17th. Jefferies Financial Group increased their target price on Caterpillar from $500.00 to $570.00 and gave the company a "buy" rating in a research note on Wednesday. Truist Financial increased their target price on Caterpillar from $507.00 to $582.00 and gave the company a "buy" rating in a research note on Wednesday. Bank of America increased their target price on Caterpillar from $495.00 to $517.00 and gave the company a "buy" rating in a research note on Monday, September 22nd. Finally, Oppenheimer increased their target price on Caterpillar from $480.00 to $513.00 and gave the company 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 given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $478.20.

Caterpillar Trading Down 1.7%

NYSE:CAT opened at $491.67 on Friday. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $511.50. 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 stock has a market capitalization of $230.34 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 2.99 and a beta of 1.46. The business's 50-day simple moving average is $443.23 and its 200-day simple moving average is $384.17.

Caterpillar (NYSE:CAT - Get Free Report) last released 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). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The business had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $16.14 billion. During the same quarter last year, the firm earned $5.99 EPS. The company's revenue for the quarter was down .7% on a year-over-year basis. Sell-side analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

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

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of the business's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the sale, the director owned 6,917 shares in the company, valued at approximately $2,835,970. The trade was a 25.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jason Kaiser sold 2,161 shares of the business's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of the sale, the insider owned 8,632 shares in the company, valued at $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 38,819 shares of company stock worth $16,885,492. Corporate insiders own 0.33% of the company's stock.

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.

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