Caterpillar Inc. $CAT Stock: Mather Group LLC. Raises Holdings

Key Points

• Mather Group increased its Caterpillar position by 19.9% in the third quarter, bringing its holdings to 22,742 shares valued at approximately $17.6 million. Institutional investors collectively own 70.98% of CAT.
• Analysts maintain a “Moderate Buy” consensus, with 15 Buy and 12 Hold ratings and an average price target of $967.83, despite several recent target-price adjustments.
• Caterpillar exceeded quarterly expectations with $8.17 in EPS and $20.54 billion in revenue, while maintaining its $1.63 quarterly dividend. The CEO also sold 32,401 shares worth about $26.2 million.

Mather Group LLC. lifted its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 19.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 22,742 shares of the industrial products company's stock after purchasing an additional 3,768 shares during the quarter. Mather Group LLC.'s holdings in Caterpillar were worth $17,594,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. BlackRock Inc. bought a new position in Caterpillar during the 2nd quarter valued at about $40,457,153,000. State Street Corp boosted its position in Caterpillar by 4.0% in the second 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 in the last quarter. Bank of America Corp DE bought a new stake in Caterpillar during the second quarter worth about $5,818,150,000. Diamant Asset Management Inc. grew its stake in Caterpillar by 68,427.2% during the first quarter. Diamant Asset Management Inc. now owns 3,140,603 shares of the industrial products company's stock worth $2,224,992,000 after buying an additional 3,136,020 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Caterpillar by 2.3% during the fourth quarter. Invesco Ltd. now owns 3,031,666 shares of the industrial products company's stock worth $1,736,750,000 after buying an additional 68,770 shares in the last quarter. Institutional investors own 70.98% of the company's stock.

Wall Street Analysts Forecast Growth

CAT has been the subject of a number of research analyst reports. UBS Group lifted their target price on shares of Caterpillar from $900.00 to $925.00 and gave the company a "neutral" rating in a research note on Wednesday, August 5th. DA Davidson boosted their target price on Caterpillar from $845.00 to $882.00 and gave the stock a "neutral" rating in a report on Thursday, August 6th. Sanford C. Bernstein restated a "market perform" rating and set a $749.00 price target on shares of Caterpillar in a research report on Wednesday. Truist Financial dropped their price target on Caterpillar from $1,225.00 to $1,100.00 and set a "buy" rating for the company in a report on Monday, October 5th. Finally, Freedom Broker raised Caterpillar from a "hold" rating to a "buy" rating and set a $980.00 price target for the company in a report on Thursday, September 10th. Fifteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $967.83.

Caterpillar Stock Down 3.3%

Shares of NYSE:CAT opened at $747.18 on Thursday. Caterpillar Inc. has a 12 month low of $510.21 and a 12 month high of $1,073.46. The company's 50-day moving average price is $816.99 and its two-hundred day moving average price is $855.96. The company has a quick ratio of 0.85, a current ratio of 1.37 and a debt-to-equity ratio of 1.65. The firm has a market cap of $343.46 billion, a P/E ratio of 32.15, a P/E/G ratio of 1.33 and a beta of 1.58.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The industrial products company reported $8.17 earnings per share 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 firm had revenue of $20.54 billion during the quarter, compared to analysts' expectations of $19.34 billion. During the same quarter last year, the company posted $4.72 EPS. The company's quarterly revenue was up 23.7% compared to the same quarter last year. As a group, research analysts forecast that Caterpillar Inc. will post 27.49 EPS for the current fiscal year.

Caterpillar Dividend Announcement

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

More Caterpillar News

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Oppenheimer maintained an “outperform” rating and still sees substantial upside, although it lowered its price target to $1,009 from $1,118. Oppenheimer Caterpillar price-target update
• Positive Sentiment: Caterpillar maintained its quarterly dividend at $1.63 per share, payable November 19 to shareholders of record October 19. The company has paid annual cash dividends since its founding and quarterly dividends since 1933. Caterpillar Inc. Maintains Dividend

Insider Activity at Caterpillar

In related news, CEO Joseph E. Creed sold 32,401 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer owned 34,555 shares of the company's stock, valued at $27,954,303.90. This trade represents a 48.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.33% of the stock is owned by company insiders.

About Caterpillar

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. Its products are used in infrastructure development, construction, mining, energy production, transportation, agriculture, forestry, and other industrial applications.

The company markets equipment and related services through a worldwide network of independent dealers. Its operations are generally organized around Construction Industries, Resource Industries, and Energy & Transportation.

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