583 Shares in Caterpillar Inc. $CAT Acquired by Greatmark Investment Partners Inc.

Key Points

• Greatmark Investment Partners Inc. acquired 583 shares of Caterpillar Inc. for approximately $226,000, reflecting continued interest from institutional investors.
• Caterpillar's most recent quarterly earnings showed a miss on EPS estimates at $4.72, although revenues of $16.57 billion beat expectations.
• The company announced a dividend of $1.51 per share, scheduled for payment on November 20th, with a dividend yield of 1.2%.

Greatmark Investment Partners Inc. bought a new stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 583 shares of the industrial products company's stock, valued at approximately $226,000.

A number of other large investors also recently modified their holdings of the business. Valeo Financial Advisors LLC raised its position in shares of Caterpillar by 36,842.1% during the 2nd quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company's stock worth $2,833,836,000 after buying an additional 7,279,991 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Caterpillar by 6.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,204,445 shares of the industrial products company's stock valued at $1,386,626,000 after acquiring an additional 264,054 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Caterpillar by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company's stock valued at $1,089,798,000 after acquiring an additional 15,347 shares during the period. Goldman Sachs Group Inc. raised its holdings in Caterpillar by 9.1% during the first quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company's stock worth $1,064,951,000 after purchasing an additional 268,300 shares in the last quarter. Finally, Invesco Ltd. lifted its position in Caterpillar by 5.0% in the first quarter. Invesco Ltd. now owns 3,141,936 shares of the industrial products company's stock worth $1,036,211,000 after purchasing an additional 150,533 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Susan C. Schwab sold 2,324 shares of the company's stock in a transaction dated Friday, August 15th. The stock was 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 represents a 25.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the completion of the sale, the chairman directly owned 482,505 shares of the company's stock, valued at $199,211,839.35. This trade represents a 3.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,985 shares of company stock worth $25,559,300. 0.33% of the stock is owned by corporate insiders.

Caterpillar Stock Performance

Shares of CAT opened at $524.95 on Wednesday. The company has a 50-day moving average of $458.10 and a two-hundred day moving average of $394.14. The stock has a market cap of $245.93 billion, a price-to-earnings ratio of 26.70, a PEG ratio of 3.02 and a beta of 1.46. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. Caterpillar Inc. has a one year low of $267.30 and a one year high of $544.99.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 EPS 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 firm had revenue of $16.57 billion during the quarter, compared to analysts' expectations of $16.14 billion. During the same quarter last year, the company posted $5.99 EPS. The firm's revenue was down .7% compared to the same quarter last year. On average, equities research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

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

Analyst Ratings Changes

A number of analysts have recently commented on CAT shares. JPMorgan Chase & Co. boosted their price objective on Caterpillar from $505.00 to $650.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 14th. Erste Group Bank upgraded shares of Caterpillar from a "hold" rating to a "buy" rating in a research report on Friday, October 3rd. Evercore ISI raised shares of Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 price objective on the stock in a research note on Tuesday, August 19th. Truist Financial boosted their target price on shares of Caterpillar from $507.00 to $582.00 and gave the stock a "buy" rating in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada began coverage on shares of Caterpillar in a report on Wednesday. They set a "sector perform" rating and a $560.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $518.19.

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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