Caterpillar Inc. $CAT Stock Acquired by Fairvoy Private Wealth LLC

Key Points

• Fairvoy Private Wealth increased its Caterpillar stake by 31% in the third quarter, adding 1,757 shares for a total of 7,423 shares valued at approximately $6.02 million. Institutional investors collectively own 70.98% of CAT.
• Caterpillar CEO Joseph E. Creed sold 32,401 shares for about $26.2 million, reducing his direct ownership by 48.39%; insiders collectively own 0.33% of the company.
• Caterpillar reported quarterly EPS of $8.17, well above the $6.22 consensus estimate, while revenue rose 23.7% year over year to $20.54 billion. The company declared a $1.63 quarterly dividend, and analysts maintain a “Moderate Buy” consensus with an average price target of $967.83.

Fairvoy Private Wealth LLC increased its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 31.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,423 shares of the industrial products company's stock after acquiring an additional 1,757 shares during the period. Caterpillar makes up 1.2% of Fairvoy Private Wealth LLC's investment portfolio, making the stock its 26th largest position. Fairvoy Private Wealth LLC's holdings in Caterpillar were worth $6,018,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Caterpillar during the second quarter worth approximately $40,457,153,000. State Street Corp grew its stake in shares of Caterpillar by 4.0% during the 2nd quarter. State Street Corp now owns 36,276,960 shares of the industrial products company's stock valued at $37,120,529,000 after buying an additional 1,396,356 shares during the period. Bank of America Corp DE purchased a new stake in shares of Caterpillar during the 2nd quarter valued at $5,818,150,000. Bank of New York Mellon Corp acquired a new stake in shares of Caterpillar during the 2nd quarter worth $3,192,710,000. Finally, Legal & General Group Plc acquired a new stake in shares of Caterpillar during the 2nd quarter worth $2,783,451,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Caterpillar

In other news, CEO Joseph E. Creed sold 32,401 shares of the company's stock in a transaction on Friday, August 28th. The shares were sold at an average price of $808.98, for a total value of $26,211,760.98. Following the completion of the transaction, the chief executive officer directly owned 34,555 shares in the company, valued at approximately $27,954,303.90. This represents a 48.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.33% of the company's stock.

Caterpillar Stock Down 0.8%

Caterpillar stock traded down $5.80 during midday trading on Monday, hitting $724.96. 2,640,740 shares of the company were exchanged, compared to its average volume of 2,825,382. The company has a market cap of $333.25 billion, a PE ratio of 31.19, a price-to-earnings-growth ratio of 1.26 and a beta of 1.58. Caterpillar Inc. has a fifty-two week low of $510.21 and a fifty-two week high of $1,073.46. The company's fifty day moving average price is $812.24 and its 200-day moving average price is $856.69. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.37 and a quick ratio of 0.85.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The industrial products company reported $8.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.22 by $1.95. Caterpillar had a net margin of 14.51% and a return on equity of 55.53%. The company had revenue of $20.54 billion during the quarter, compared to the consensus estimate of $19.34 billion. During the same quarter last year, the company earned $4.72 earnings per share. Caterpillar's revenue for the quarter was up 23.7% on a year-over-year basis. On average, research analysts predict that Caterpillar Inc. will post 27.49 EPS for the current fiscal year.

Caterpillar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Monday, October 26th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, October 26th. Caterpillar's payout ratio is presently 28.06%.

Wall Street Analysts Forecast Growth

CAT has been the topic of several research reports. Citigroup cut their target price on Caterpillar from $1,100.00 to $950.00 and set a "buy" rating on the stock in a research report on Monday, October 12th. DA Davidson boosted their price target on Caterpillar from $845.00 to $882.00 and gave the company a "neutral" rating in a research report on Thursday, August 6th. Wells Fargo & Company upped their price target on Caterpillar from $1,050.00 to $1,155.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 23rd. Robert W. Baird set a $970.00 price target on Caterpillar in a research note on Wednesday, August 5th. Finally, Oppenheimer cut their price objective on Caterpillar from $1,118.00 to $1,009.00 and set an "outperform" rating on the stock in a report on Wednesday, October 14th. Fifteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to data from MarketBeat, Caterpillar presently has a consensus rating of "Moderate Buy" and an average target price of $967.83.

Caterpillar Profile

Caterpillar Inc is a manufacturer of construction, mining, and industrial equipment. Its product portfolio includes excavators, bulldozers, wheel loaders, motor graders, articulated trucks, and other machinery used in construction, infrastructure development, mining, quarrying, forestry, and related industries. The company also produces diesel and natural gas engines, industrial gas turbines, generator sets, and other power-generation and transportation equipment.

Caterpillar operates through businesses focused on construction industries, resource industries, and energy and transportation.

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