Jacobsen Capital Management Buys Shares of 831 Caterpillar Inc. $CAT

Key Points

• Jacobsen Capital Management acquired 831 shares of Caterpillar Inc., valued at approximately $323,000, during the second quarter.
• Insider transactions include Director Susan C. Schwab selling 2,324 shares, resulting in a significant decrease in ownership, while others also reduced their positions recently.
• Caterpillar announced a quarterly dividend of $1.51 per share, with an annualized dividend yield of 1.2%, set to be paid on November 20th.

Jacobsen Capital Management acquired a new stake in Caterpillar Inc. (NYSE:CAT - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 831 shares of the industrial products company's stock, valued at approximately $323,000.

Several other large investors have also added to or reduced their stakes in CAT. Mid American Wealth Advisory Group Inc. acquired a new stake in Caterpillar in the 2nd quarter valued at $28,000. Compass Financial Services Inc grew its holdings in shares of Caterpillar by 49.2% in the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 31 shares in the last quarter. Family Legacy Financial Solutions LLC acquired a new stake in shares of Caterpillar in the second quarter valued at about $32,000. Redmont Wealth Advisors LLC bought a new stake in Caterpillar during the first quarter worth about $33,000. Finally, Harbor Asset Planning Inc. acquired a new position in Caterpillar during the second quarter valued at approximately $34,000. Institutional investors and hedge funds own 70.98% of the company's stock.

Insider Buying and Selling

In other news, Director Susan C. Schwab sold 2,324 shares of Caterpillar stock in a transaction on Friday, August 15th. The stock was sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the sale, the director owned 6,917 shares of the company's stock, valued at approximately $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jason Kaiser sold 2,161 shares of the business's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the sale, the insider directly owned 8,632 shares of the company's stock, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,985 shares of company stock valued at $25,559,300. Insiders own 0.33% of the company's stock.

Caterpillar Price Performance

NYSE:CAT opened at $524.95 on Wednesday. The company has a market cap of $245.93 billion, a P/E ratio of 26.70, a P/E/G ratio of 3.02 and a beta of 1.46. The firm's fifty day moving average price is $458.10 and its two-hundred day moving average price is $394.14. Caterpillar Inc. has a one year low of $267.30 and a one year high of $544.99. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81.

Caterpillar (NYSE:CAT - Get Free Report) last announced its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing the consensus estimate of $4.88 by ($0.16). The company had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The business's quarterly revenue was down .7% on a year-over-year basis. During the same period in the previous year, the firm posted $5.99 EPS. Equities analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be paid a dividend of $1.51 per share. The ex-dividend date is Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.2%. Caterpillar's dividend payout ratio (DPR) is 30.72%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Evercore ISI raised Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 price target on the stock in a research report on Tuesday, August 19th. Robert W. Baird boosted their target price on shares of Caterpillar from $540.00 to $612.00 in a report on Monday. Barclays upped their price target on shares of Caterpillar from $425.00 to $485.00 and gave the stock an "equal weight" rating in a research report on Friday, October 17th. Erste Group Bank raised shares of Caterpillar from a "hold" rating to a "buy" rating in a research report on Friday, October 3rd. Finally, Citigroup upped their target price on shares of Caterpillar from $540.00 to $570.00 and gave the company a "buy" rating in a report on Tuesday, October 7th. Two 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, Caterpillar currently has a consensus rating of "Moderate Buy" and an average price target of $515.40.

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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