Cushing Capital Partners LLC Makes New $231,000 Investment in Caterpillar Inc. $CAT

Key Points

• Cushing Capital Partners LLC has acquired a new position in Caterpillar Inc., purchasing 596 shares valued at approximately $231,000.
• Several other institutional investors have also increased their stakes in Caterpillar, with Trivium Point Advisory LLC raising its stake by 132.9% in the second quarter.
• Equities research analysts have set new price targets for Caterpillar, with Oppenheimer raising their target from $480.00 to $513.00, reflecting strong investor confidence in the stock.

Cushing Capital Partners LLC acquired a new position in Caterpillar Inc. (NYSE:CAT - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 596 shares of the industrial products company's stock, valued at approximately $231,000.

Other institutional investors have also modified their holdings of the company. Trivium Point Advisory LLC raised its stake in shares of Caterpillar by 132.9% in the 2nd quarter. Trivium Point Advisory LLC now owns 1,926 shares of the industrial products company's stock valued at $748,000 after purchasing an additional 1,099 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Caterpillar by 9.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company's stock valued at $26,037,000 after buying an additional 7,125 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of Caterpillar by 11.2% during the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,315 shares of the industrial products company's stock valued at $5,557,000 after buying an additional 1,440 shares during the last quarter. Ransom Advisory Ltd bought a new stake in shares of Caterpillar during the 1st quarter valued at about $427,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Caterpillar by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company's stock valued at $1,089,798,000 after buying an additional 15,347 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Oppenheimer boosted their price objective on shares of Caterpillar from $480.00 to $513.00 and gave the company an "outperform" rating in a research report on Monday, September 29th. Evercore ISI raised shares of Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 price objective for the company in a research report on Tuesday, August 19th. Barclays upped their target price on shares of Caterpillar from $383.00 to $425.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. JPMorgan Chase & Co. upped their target price on shares of Caterpillar from $505.00 to $650.00 and gave the stock an "overweight" rating in a research report on Tuesday. Finally, DA Davidson upped their target price on shares of Caterpillar from $331.00 to $388.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $506.60.

Caterpillar Trading Up 1.3%

Caterpillar stock opened at $534.40 on Thursday. The firm has a 50 day simple moving average of $448.68 and a 200-day simple moving average of $387.73. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. The stock has a market capitalization of $250.35 billion, a PE ratio of 27.18, a price-to-earnings-growth ratio of 3.23 and a beta of 1.46. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $538.45.

Caterpillar (NYSE:CAT - Get Free Report) last posted 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 the consensus estimate of $16.14 billion. During the same quarter last year, the business earned $5.99 earnings per share. The company's revenue was down .7% on a year-over-year basis. As a group, equities research analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Dividend Announcement

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

Insider Activity at Caterpillar

In related news, insider Jason Kaiser sold 2,161 shares of the company's 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 owned 8,632 shares in the company, valued at approximately $3,605,586.40. This represents a 20.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Donald J. Umpleby III sold 17,166 shares of the company's stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $505.29, for a total transaction of $8,673,808.14. Following the completion of the sale, the chairman owned 448,173 shares of the company's stock, valued at approximately $226,457,335.17. This trade represents a 3.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,985 shares of company stock valued at $25,559,300 over the last ninety days. Insiders own 0.33% of the company's stock.

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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