Caterpillar Inc. $CAT Stake Lessened by Generali Asset Management SPA SGR

Key Points

• Generali Asset Management SPA SGR reduced its stake in Caterpillar Inc. by 1.4%, owning 44,195 shares valued at approximately $17.16 million after selling 639 shares.
• Caterpillar's most recent quarterly earnings reported a miss of $0.16 per share against analysts' expectations, yet revenues of $16.57 billion exceeded estimates.
• The company declared a quarterly dividend of $1.51, expected to be paid on November 20th, representing an annualized yield of 1.1% with a payout ratio of 30.72%.

Generali Asset Management SPA SGR trimmed its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 1.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,195 shares of the industrial products company's stock after selling 639 shares during the period. Generali Asset Management SPA SGR's holdings in Caterpillar were worth $17,157,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Family Legacy Financial Solutions LLC acquired a new position in Caterpillar during the second quarter worth about $32,000. Compass Financial Services Inc grew its stake in shares of Caterpillar by 49.2% in the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company's stock worth $31,000 after purchasing an additional 31 shares during the last quarter. Redmont Wealth Advisors LLC bought a new stake in shares of Caterpillar in the 1st quarter worth approximately $33,000. Maseco LLP acquired a new stake in Caterpillar during the second quarter valued at approximately $45,000. Finally, Richardson Financial Services Inc. grew its position in Caterpillar by 109.1% in the second quarter. Richardson Financial Services Inc. now owns 115 shares of the industrial products company's stock worth $45,000 after buying an additional 60 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Up 4.8%

CAT stock opened at $528.75 on Wednesday. The company has a 50 day moving average of $446.55 and a two-hundred day moving average of $386.71. The company has a market cap of $247.71 billion, a price-to-earnings ratio of 26.89, a PEG ratio of 3.09 and a beta of 1.46. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $531.56. 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 (NYSE:CAT - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share 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 during the quarter, compared to analyst estimates of $16.14 billion. During the same period last year, the company posted $5.99 earnings per share. The company's revenue was down .7% compared to the same quarter last year. On average, equities analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be issued a $1.51 dividend. The ex-dividend date is Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a yield of 1.1%. Caterpillar's dividend payout ratio is currently 30.72%.

Insider Activity at Caterpillar

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of Caterpillar 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 directly owned 8,632 shares in the company, valued at $3,605,586.40. The trade was a 20.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan C. Schwab sold 2,324 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $410.00, for a total transaction of $952,840.00. Following the transaction, the director owned 6,917 shares in the company, valued at approximately $2,835,970. This trade represents a 25.15% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,985 shares of company stock valued at $25,559,300. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CAT has been the subject of a number of recent research reports. Bank of America increased their price objective on Caterpillar from $495.00 to $517.00 and gave the company a "buy" rating in a research report on Monday, September 22nd. JPMorgan Chase & Co. boosted their price objective on Caterpillar from $505.00 to $650.00 and gave the stock an "overweight" rating in a report on Tuesday. Truist Financial raised 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. DA Davidson upped their price target on shares of Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Finally, Oppenheimer lifted their price objective on shares of Caterpillar from $480.00 to $513.00 and gave the stock an "outperform" rating in a research report on Monday, September 29th. Two equities research 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 stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $501.47.

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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