Empowered Funds LLC Takes $76.96 Million Position in Caterpillar Inc. $CAT

Empowered Funds LLC acquired a new position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 72,272 shares of the industrial products company's stock, valued at approximately $76,962,000.

Several other institutional investors also recently modified their holdings of the stock. Stonebridge Financial Group LLC increased its stake in shares of Caterpillar by 0.7% in the second quarter. Stonebridge Financial Group LLC now owns 1,635 shares of the industrial products company's stock worth $1,741,000 after buying an additional 11 shares during the period. Inspirion Wealth Advisors LLC raised its holdings in Caterpillar by 1.2% during the 2nd quarter. Inspirion Wealth Advisors LLC now owns 944 shares of the industrial products company's stock valued at $936,000 after buying an additional 11 shares during the last quarter. Bell Bank boosted its position in Caterpillar by 0.6% during the 2nd quarter. Bell Bank now owns 1,865 shares of the industrial products company's stock valued at $1,986,000 after buying an additional 11 shares during the period. Cornerstone Advisory LLC grew its holdings in Caterpillar by 0.7% in the 1st quarter. Cornerstone Advisory LLC now owns 1,818 shares of the industrial products company's stock worth $1,288,000 after acquiring an additional 12 shares during the last quarter. Finally, Advisory Resource Group increased its position in shares of Caterpillar by 0.8% in the fourth quarter. Advisory Resource Group now owns 1,632 shares of the industrial products company's stock valued at $935,000 after acquiring an additional 13 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Trading Down 0.1%

NYSE:CAT opened at $813.51 on Tuesday. The company has a 50-day moving average price of $868.12 and a 200-day moving average price of $839.26. The stock has a market cap of $373.95 billion, a price-to-earnings ratio of 35.00, a P/E/G ratio of 1.41 and a beta of 1.60. The company has a current ratio of 1.37, a quick ratio of 0.85 and a debt-to-equity ratio of 1.65. Caterpillar Inc. has a 12 month low of $416.44 and a 12 month high of $1,073.46.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $19.34 billion. During the same quarter in the previous year, the company earned $4.72 earnings per share. Caterpillar's quarterly revenue was up 23.7% on a year-over-year basis. Equities analysts predict that Caterpillar Inc. will post 27.34 EPS for the current year.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Monday, July 20th were issued a dividend of $1.63 per share. This is a positive change from Caterpillar's previous quarterly dividend of $1.51. The ex-dividend date was Monday, July 20th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.8%. Caterpillar's dividend payout ratio (DPR) is currently 28.06%.

Analyst Ratings Changes

Several brokerages have recently commented on CAT. Weiss Ratings raised shares of Caterpillar from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, August 19th. Wells Fargo & Company raised their target price 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. Evercore restated an "outperform" rating and set a $1,103.00 price target on shares of Caterpillar in a report on Monday, May 11th. Barclays upped their price target on Caterpillar from $800.00 to $900.00 and gave the company an "equal weight" rating in a research report on Thursday, August 6th. Finally, Rothschild & Co Redburn lifted their price objective on Caterpillar from $700.00 to $950.00 and gave the stock a "neutral" rating in a research report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $995.52.

Insider Activity

In other news, CEO Joseph E. Creed sold 32,401 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was 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 owned 34,555 shares of the company's stock, valued at approximately $27,954,303.90. This represents a 48.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.33% of the company's stock.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company's product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.

Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar Inc. (NYSE:CAT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.