Greenwood Gearhart Inc. Boosts Holdings in Caterpillar Inc. $CAT

Key Points

• Greenwood Gearhart Inc. increased its stake in Caterpillar Inc. by 4.8%, owning 36,107 shares valued at $14 million after acquiring an additional 1,642 shares in the second quarter.
• Caterpillar's quarterly earnings missed analysts' expectations, reporting an EPS of $4.72 compared to the anticipated $4.88, while revenue reached $16.57 billion.
• The company announced a quarterly dividend of $1.51 per share, which will be paid on November 20th, reflecting an annualized yield of 1.2%.

Greenwood Gearhart Inc. lifted its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 4.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,107 shares of the industrial products company's stock after buying an additional 1,642 shares during the quarter. Greenwood Gearhart Inc.'s holdings in Caterpillar were worth $14,016,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Trivium Point Advisory LLC boosted its holdings in Caterpillar by 132.9% during the second quarter. Trivium Point Advisory LLC now owns 1,926 shares of the industrial products company's stock worth $748,000 after buying an additional 1,099 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake 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 worth $26,037,000 after acquiring an additional 7,125 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake 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 worth $5,557,000 after acquiring an additional 1,440 shares in the last quarter. Ransom Advisory Ltd purchased a new position in Caterpillar during the first quarter worth approximately $427,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Caterpillar by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company's stock worth $1,089,798,000 after purchasing an additional 15,347 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

Caterpillar Trading Down 1.7%

CAT opened at $491.67 on Friday. 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 company's 50 day simple moving average is $443.23 and its two-hundred day simple moving average is $383.88. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $511.50. The firm has a market capitalization of $230.34 billion, a price-to-earnings ratio of 25.01, a price-to-earnings-growth ratio of 3.04 and a beta of 1.46.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing analysts' consensus estimates of $4.88 by ($0.16). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The company had revenue of $16.57 billion for the quarter, compared to analysts' expectations of $16.14 billion. During the same quarter in the previous year, the business posted $5.99 EPS. The business's quarterly revenue was down .7% compared to the same quarter last year. 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. Shareholders of record on Monday, October 20th will be given a $1.51 dividend. The ex-dividend date is Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a yield of 1.2%. Caterpillar's payout ratio is currently 30.72%.

Insider Buying and Selling at Caterpillar

In other news, Director Susan C. Schwab sold 2,324 shares of the business's stock in a transaction that occurred 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 approximately $2,835,970. The trade was a 25.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,166 shares of the business's stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $462.65, for a total transaction of $7,941,849.90. Following the completion of the sale, the chairman directly owned 465,339 shares in the company, valued at $215,289,088.35. This trade represents a 3.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,819 shares of company stock worth $16,885,492 over the last quarter. 0.33% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CAT has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a "buy (b-)" rating on shares of Caterpillar in a research report on Saturday, September 27th. DA Davidson increased their price objective on shares of Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Robert W. Baird increased their price objective on shares of Caterpillar from $495.00 to $540.00 and gave the company an "outperform" rating in a report on Wednesday, September 17th. Melius raised shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price target on the stock in a research note on Wednesday, July 9th. Finally, Melius Research raised shares of Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price target on the stock in a research note on Wednesday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Caterpillar has a consensus rating of "Moderate Buy" and an average price target of $478.20.

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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