JGP Wealth Management LLC Acquires Shares of 605 Caterpillar Inc. $CAT

Key Points

• JGP Wealth Management LLC has acquired 605 shares of Caterpillar Inc. valued at approximately $235,000 as part of its investment strategy.
• Caterpillar's recent quarterly earnings report showed an EPS of $4.72, missing forecasts, but beat revenue expectations with $16.57 billion.
• The company has announced a quarterly dividend of $1.51 per share, which will be paid on November 20th, representing a yield of 1.1%.

JGP Wealth Management LLC acquired a new stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 605 shares of the industrial products company's stock, valued at approximately $235,000.

A number of other hedge funds have also added to or reduced their stakes in CAT. Compass Financial Services Inc increased its position in Caterpillar by 49.2% during the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 31 shares during the period. Family Legacy Financial Solutions LLC purchased a new position in Caterpillar during the 2nd quarter valued at $32,000. Redmont Wealth Advisors LLC purchased a new position in Caterpillar during the 1st quarter valued at $33,000. Total Wealth Planning & Management Inc. bought a new stake in shares of Caterpillar during the 2nd quarter valued at $38,000. Finally, Fiduciary Wealth Partners LLC bought a new stake in shares of Caterpillar during the 1st quarter valued at $45,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $528.75 on Wednesday. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $531.56. The business has a 50-day simple moving average of $446.55 and a two-hundred day simple moving average of $386.71. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. The firm has a market cap of $247.71 billion, a price-to-earnings ratio of 26.89, a price-to-earnings-growth ratio of 3.09 and a beta of 1.46.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly 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). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The business had revenue of $16.57 billion for the quarter, compared to analysts' expectations of $16.14 billion. During the same period in the previous year, the company earned $5.99 EPS. Caterpillar's revenue for the quarter was down .7% compared to the same quarter last year. On average, 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. Investors of record on Monday, October 20th will be issued a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar's dividend payout ratio is currently 30.72%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CAT shares. Weiss Ratings restated a "buy (b)" rating on shares of Caterpillar in a report on Tuesday. Sanford C. Bernstein boosted their target price on shares of Caterpillar from $447.00 to $502.00 and gave the company a "market perform" rating in a report on Tuesday. Truist Financial boosted their target price on shares of Caterpillar from $507.00 to $582.00 and gave the company a "buy" rating in a report on Wednesday, October 8th. Evercore ISI upgraded shares of Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 target price on the stock in a report on Tuesday, August 19th. Finally, Melius Research upgraded shares of Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 target price on the stock in a report on Wednesday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $501.47.

Insiders Place Their Bets

In other Caterpillar news, Chairman Donald J. Umpleby III sold 17,168 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total value of $7,088,152.16. Following the completion of the transaction, the chairman directly owned 482,505 shares in the company, valued at $199,211,839.35. This represents a 3.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Susan C. Schwab sold 2,324 shares of the company's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the completion of the transaction, the director owned 6,917 shares of the company's stock, valued at $2,835,970. The trade was a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,985 shares of company stock worth $25,559,300 in the last three months. 0.33% of the stock is owned by company insiders.

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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