Deroy & Devereaux Private Investment Counsel Inc. Buys Shares of 600 Caterpillar Inc. $CAT

Key Points

• Deroy & Devereaux Private Investment Counsel Inc. purchased 600 shares of Caterpillar Inc. for approximately $233,000 during the second quarter, indicating institutional interest in the stock.
• Insiders sold a total of 55,985 shares of Caterpillar stock worth over $25 million in the past ninety days, suggesting possible changes in sentiment among company executives.
• Analyst ratings for Caterpillar have improved, with multiple firms increasing their target prices, reflecting a positive outlook for the company's stock.

Deroy & Devereaux Private Investment Counsel Inc. purchased a new position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 600 shares of the industrial products company's stock, valued at approximately $233,000.

A number of other hedge funds also recently modified their holdings of CAT. Compass Financial Services Inc raised its position in shares of Caterpillar by 49.2% during the first 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 period. Family Legacy Financial Solutions LLC acquired a new stake in shares of Caterpillar during the second quarter worth about $32,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Caterpillar during the first quarter worth about $33,000. Total Wealth Planning & Management Inc. acquired a new stake in shares of Caterpillar during the second quarter worth about $38,000. Finally, Fiduciary Wealth Partners LLC acquired a new stake in shares of Caterpillar during the first quarter worth about $45,000. Institutional investors and hedge funds own 70.98% of the company's stock.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the firm's stock in a transaction 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 sale, the insider owned 8,632 shares of the company's stock, valued at $3,605,586.40. This trade represents a 20.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of the firm's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $410.00, for a total value of $952,840.00. Following the sale, the director directly owned 6,917 shares of the company's stock, valued at $2,835,970. This represents a 25.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,985 shares of company stock worth $25,559,300 over the last ninety days. 0.33% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CAT has been the topic of a number of recent research reports. Barclays lifted their target price on Caterpillar from $383.00 to $425.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Robert W. Baird lifted their target price on Caterpillar from $495.00 to $540.00 and gave the company an "outperform" rating in a research report on Wednesday, September 17th. Oppenheimer lifted their target price on Caterpillar from $480.00 to $513.00 and gave the company an "outperform" rating in a research report on Monday, September 29th. UBS Group lifted their target price on Caterpillar from $450.00 to $506.00 and gave the company a "neutral" rating in a research report on Monday. Finally, DA Davidson lifted their target price on Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, Caterpillar currently has a consensus rating of "Moderate Buy" and an average target price of $506.60.

Caterpillar Stock Up 1.3%

CAT stock opened at $534.40 on Thursday. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. The business has a 50 day moving average price of $448.68 and a two-hundred day moving average price of $387.73. The company has a market cap of $250.35 billion, a price-to-earnings ratio of 27.18, a P/E/G ratio of 3.23 and a beta of 1.46. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $538.45.

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). The company had revenue of $16.57 billion during the quarter, compared to the consensus estimate of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The firm's revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.99 earnings per share. Analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

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

Caterpillar 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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