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Brooklyn Investment Group Boosts Stock Position in Caterpillar Inc. $CAT

Caterpillar logo with Industrials background

Key Points

  • Brooklyn Investment Group increased its stake in Caterpillar Inc. by 24.7% during the 1st quarter, owning a total of 3,582 shares valued at approximately $1,181,000.
  • Caterpillar recently declared a quarterly dividend of $1.51 per share, an increase from the previous $1.41, with an annualized yield of 1.5%.
  • The company's quarterly earnings report revealed an earnings per share (EPS) of $4.72, missing expectations by $0.16, while revenue of $16.57 billion exceeded analysts' estimates.
  • Looking to export and analyze Caterpillar data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Brooklyn Investment Group boosted its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 24.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,582 shares of the industrial products company's stock after buying an additional 710 shares during the period. Brooklyn Investment Group's holdings in Caterpillar were worth $1,181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in CAT. McIlrath & Eck LLC lifted its holdings in Caterpillar by 3.2% during the 4th quarter. McIlrath & Eck LLC now owns 962 shares of the industrial products company's stock worth $349,000 after buying an additional 30 shares during the last quarter. Asset Management Group Inc. lifted its holdings in shares of Caterpillar by 0.3% in the 4th quarter. Asset Management Group Inc. now owns 10,771 shares of the industrial products company's stock valued at $3,907,000 after purchasing an additional 32 shares during the last quarter. Summit X LLC lifted its holdings in shares of Caterpillar by 3.2% in the 1st quarter. Summit X LLC now owns 1,025 shares of the industrial products company's stock valued at $338,000 after purchasing an additional 32 shares during the last quarter. Menard Financial Group LLC lifted its holdings in shares of Caterpillar by 1.0% in the 1st quarter. Menard Financial Group LLC now owns 3,174 shares of the industrial products company's stock valued at $1,019,000 after purchasing an additional 32 shares during the last quarter. Finally, Dunhill Financial LLC lifted its holdings in shares of Caterpillar by 21.3% in the 4th quarter. Dunhill Financial LLC now owns 205 shares of the industrial products company's stock valued at $75,000 after purchasing an additional 36 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Price Performance

NYSE:CAT traded up $17.1140 during trading hours on Friday, reaching $435.0040. 3,783,903 shares of the company traded hands, compared to its average volume of 2,782,068. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $441.15. The firm's 50-day moving average is $404.15 and its 200-day moving average is $357.31. 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 cap of $203.79 billion, a P/E ratio of 22.13, a P/E/G ratio of 2.51 and a beta of 1.40.

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 (EPS) 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 analyst estimates of $16.14 billion. During the same quarter last year, the business earned $5.99 EPS. Caterpillar's revenue for the quarter was down .7% compared to the same quarter last year. Equities research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Monday, July 21st were given a $1.51 dividend. This is an increase from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date of this dividend was Monday, July 21st. This represents a $6.04 annualized dividend and a dividend yield of 1.4%. Caterpillar's dividend payout ratio is 30.72%.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of the firm'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 directly owned 6,917 shares of the company's stock, valued at $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jason Kaiser sold 2,161 shares of the firm's stock in a transaction dated 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 transaction, the insider directly owned 8,632 shares in the company, valued at $3,605,586.40. This trade represents a 20.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

CAT has been the subject of several research reports. Truist Financial boosted their target price on Caterpillar from $414.00 to $507.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Baird R W raised Caterpillar from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Evercore ISI raised Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 price objective for the company in a research note on Tuesday. Barclays upped their price objective on Caterpillar from $383.00 to $425.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Finally, DA Davidson raised their price target on Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $450.87.

View Our Latest Analysis on Caterpillar

About Caterpillar

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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