Caterpillar Inc. $CAT Shares Acquired by D.A. Davidson & CO.

Key Points

• D.A. Davidson & CO. increased its stake in Caterpillar Inc. by 2.2% in Q2, owning 82,627 shares worth approximately $32 million.
• Analysts have raised price targets for Caterpillar stock, with a new average target of $515.40, indicating a generally favorable outlook.
• Caterpillar's quarterly dividend of $1.51 will be paid on November 20th, with stockholders of record on October 20th eligible to receive it.

D.A. Davidson & CO. grew its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 2.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 82,627 shares of the industrial products company's stock after purchasing an additional 1,771 shares during the period. D.A. Davidson & CO.'s holdings in Caterpillar were worth $32,077,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Caterpillar in the second quarter valued at approximately $28,000. Family Legacy Financial Solutions LLC purchased a new stake in shares of Caterpillar in the second quarter valued at approximately $32,000. Harbor Asset Planning Inc. purchased a new stake in shares of Caterpillar in the second quarter valued at approximately $34,000. Compass Financial Services Inc boosted its stake in shares of Caterpillar by 49.2% in the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company's stock valued at $31,000 after buying an additional 31 shares in the last quarter. Finally, Redmont Wealth Advisors LLC purchased a new stake in shares of Caterpillar in the first quarter valued at approximately $33,000. Institutional investors and hedge funds own 70.98% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Melius Research upgraded Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price target on the stock in a research note on Wednesday, July 9th. Barclays lifted their price target on Caterpillar from $425.00 to $485.00 and gave the company an "equal weight" rating in a research note on Friday, October 17th. Oppenheimer lifted their price target on Caterpillar from $480.00 to $513.00 and gave the company an "outperform" rating in a research note on Monday, September 29th. Truist Financial boosted their target price on Caterpillar from $507.00 to $582.00 and gave the stock a "buy" rating in a research report on Wednesday, October 8th. Finally, UBS Group boosted their target price on Caterpillar from $450.00 to $506.00 and gave the stock a "neutral" rating in a research report on Monday, October 13th. Two 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 company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $515.40.

Insider Activity at Caterpillar

In related news, Chairman Donald J. Umpleby III sold 17,168 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total value of $7,088,152.16. Following the completion of the transaction, the chairman directly owned 482,505 shares in the company, valued at approximately $199,211,839.35. This represents a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jason Kaiser sold 2,161 shares of the company's stock in a transaction 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 transaction, the insider owned 8,632 shares of the company's stock, valued at $3,605,586.40. The trade was a 20.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,985 shares of company stock worth $25,559,300. 0.33% of the stock is currently owned by insiders.

Caterpillar Stock Down 1.2%

Shares of NYSE:CAT opened at $524.95 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $544.99. The stock's fifty day simple moving average is $458.10 and its 200-day simple moving average is $394.14. The company has a market capitalization of $245.93 billion, a P/E ratio of 26.70, a P/E/G ratio of 3.02 and a beta of 1.46.

Caterpillar (NYSE:CAT - Get Free Report) last issued 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 net margin of 14.95% and a return on equity of 48.95%. The company had revenue of $16.57 billion during the quarter, compared to analysts' expectations of $16.14 billion. During the same quarter in the prior year, the company earned $5.99 earnings per share. The firm's revenue was down .7% compared to the same quarter last year. As a group, equities research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently disclosed 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 is Monday, October 20th. Caterpillar's dividend payout ratio is currently 30.72%.

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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