Caterpillar Inc. $CAT Shares Sold by Kestra Advisory Services LLC

Key Points

• Kestra Advisory Services LLC reduced its holdings in Caterpillar Inc. by 2.2%, currently owning 160,397 shares valued at approximately $52.9 million.
• Caterpillar reported an EPS of $4.72 for the last quarter, falling short of analysts' expectations of $4.88, with a revenue of $16.57 billion, slightly exceeding estimates.
• The company recently increased its quarterly dividend from $1.41 to $1.51, reflecting a 1.4% yield and a payout ratio of 30.72%.

Kestra Advisory Services LLC trimmed its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 2.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 160,397 shares of the industrial products company's stock after selling 3,549 shares during the quarter. Kestra Advisory Services LLC's holdings in Caterpillar were worth $52,899,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Purus Wealth Management LLC grew its stake in Caterpillar by 20.1% during the 1st quarter. Purus Wealth Management LLC now owns 1,302 shares of the industrial products company's stock valued at $429,000 after purchasing an additional 218 shares in the last quarter. Norinchukin Bank The boosted its stake in shares of Caterpillar by 11.1% during the 1st quarter. Norinchukin Bank The now owns 35,551 shares of the industrial products company's stock valued at $11,725,000 after buying an additional 3,545 shares during the last quarter. CW Advisors LLC grew its position in shares of Caterpillar by 23.1% during the first quarter. CW Advisors LLC now owns 74,667 shares of the industrial products company's stock worth $24,648,000 after buying an additional 14,027 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Caterpillar by 1.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,038,105 shares of the industrial products company's stock worth $342,368,000 after buying an additional 15,687 shares during the last quarter. Finally, PGIM Custom Harvest LLC raised its holdings in Caterpillar by 7.7% in the first quarter. PGIM Custom Harvest LLC now owns 655 shares of the industrial products company's stock valued at $216,000 after acquiring an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

Caterpillar Stock Down 0.8%

Shares of Caterpillar stock opened at $417.4240 on Friday. The stock has a market capitalization of $195.55 billion, a price-to-earnings ratio of 21.23, a PEG ratio of 2.51 and a beta of 1.40. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $441.15. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. The business's 50 day simple moving average is $404.15 and its 200-day simple moving average is $357.31.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing analysts' consensus estimates of $4.88 by ($0.16). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The company had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $16.14 billion. During the same quarter in the previous year, the company earned $5.99 earnings per share. Caterpillar's quarterly revenue was down .7% compared to the same quarter last year. Equities research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Monday, July 21st were issued a $1.51 dividend. This is a boost 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 dividend on an annualized basis and a dividend yield of 1.4%. Caterpillar's dividend payout ratio is 30.72%.

Insider Activity

In other news, insider Jason Kaiser sold 2,161 shares of the business's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the transaction, the insider directly owned 8,632 shares in the company, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Susan C. Schwab sold 2,324 shares of the 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 completion of 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 disclosure for this sale can be found here. Company insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CAT shares. Baird R W raised shares of Caterpillar from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Oppenheimer increased their target price on Caterpillar from $395.00 to $483.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Evercore ISI upgraded Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 target price for the company in a research report on Tuesday. Sanford C. Bernstein reissued a "market perform" rating on shares of Caterpillar in a research report on Monday, July 14th. Finally, Citigroup raised their price objective on Caterpillar from $460.00 to $500.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Two 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $450.87.

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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