Equitable Holdings Inc. Buys Shares of 33,278 Caterpillar Inc. $CAT

Equitable Holdings Inc. bought a new position in Caterpillar Inc. (NYSE:CAT - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 33,278 shares of the industrial products company's stock, valued at approximately $35,437,000.

Other institutional investors have also made changes to their positions in the company. Diversify Advisory Services LLC bought a new position in Caterpillar in the 2nd quarter worth approximately $5,372,000. D.B. Root & Company LLC bought a new stake in shares of Caterpillar in the second quarter valued at approximately $850,000. Dearborn Partners LLC acquired a new stake in shares of Caterpillar in the second quarter worth $20,293,000. Axxcess Wealth Management LLC grew its stake in shares of Caterpillar by 2.8% in the fourth quarter. Axxcess Wealth Management LLC now owns 22,420 shares of the industrial products company's stock worth $12,844,000 after acquiring an additional 604 shares during the last quarter. Finally, DSG Capital Advisors LLC bought a new position in Caterpillar during the first quarter worth $1,226,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CAT shares. Robert W. Baird set a $970.00 price target on shares of Caterpillar in a report on Wednesday, August 5th. Erste Group Bank downgraded shares of Caterpillar from a "buy" rating to a "hold" rating in a report on Monday, July 27th. Royal Bank Of Canada upped their price objective on shares of Caterpillar from $877.00 to $897.00 and gave the company a "sector perform" rating in a research report on Wednesday, August 5th. Rothschild & Co Redburn increased their target price on shares of Caterpillar from $700.00 to $950.00 and gave the company a "neutral" rating in a research note on Thursday, May 14th. Finally, DA Davidson lifted their target price on Caterpillar from $845.00 to $882.00 and gave the stock a "neutral" rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $995.52.

Caterpillar Trading Down 0.1%

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

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The industrial products company reported $8.17 EPS for the quarter, beating the consensus estimate of $6.22 by $1.95. Caterpillar had a return on equity of 55.53% and a net margin of 14.51%.The business had revenue of $20.54 billion for the quarter, compared to analyst estimates of $19.34 billion. During the same quarter in the previous year, the firm earned $4.72 EPS. Caterpillar's quarterly revenue was up 23.7% on a year-over-year basis. Equities analysts anticipate that Caterpillar Inc. will post 27.34 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Monday, July 20th were paid a $1.63 dividend. The ex-dividend date was Monday, July 20th. This represents a $6.52 annualized dividend and a dividend yield of 0.8%. This is a boost from Caterpillar's previous quarterly dividend of $1.51. Caterpillar's dividend payout ratio is presently 28.06%.

Insider Buying and Selling at Caterpillar

In related news, CEO Joseph E. Creed sold 32,401 shares of the stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $808.98, for a total transaction of $26,211,760.98. Following the completion of the sale, the chief executive officer owned 34,555 shares in the company, valued at $27,954,303.90. This trade represents a 48.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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.

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