Leo Wealth LLC Makes New Investment in Caterpillar Inc. $CAT

Key Points

• Leo Wealth LLC has acquired a new stake in Caterpillar Inc., purchasing 1,299 shares valued at approximately $504,000 during the second quarter.
• Several institutional investors, including Trivium Point Advisory LLC, have significantly increased their positions in Caterpillar, reflecting strong interest in the industrial products company.
• Caterpillar recently reported quarterly earnings with a net margin of 14.95%, though it missed EPS estimates, and it also announced a quarterly dividend of $1.51 per share.

Leo Wealth LLC bought a new stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,299 shares of the industrial products company's stock, valued at approximately $504,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CAT. Trivium Point Advisory LLC lifted its position in shares of Caterpillar by 132.9% in the second quarter. Trivium Point Advisory LLC now owns 1,926 shares of the industrial products company's stock valued at $748,000 after acquiring an additional 1,099 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Caterpillar by 9.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company's stock valued at $26,037,000 after purchasing an additional 7,125 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in Caterpillar by 11.2% in 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 valued at $5,557,000 after purchasing an additional 1,440 shares in the last quarter. Ransom Advisory Ltd purchased a new position in shares of Caterpillar in the first quarter worth about $427,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Caterpillar by 0.5% in 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 buying an additional 15,347 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

Insider Buying and Selling at Caterpillar

In related news, Chairman Donald J. Umpleby III sold 17,166 shares of the business's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $462.65, for a total value of $7,941,849.90. Following the sale, the chairman owned 465,339 shares in the company, valued at approximately $215,289,088.35. The trade was a 3.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of the business's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $410.00, for a total transaction of $952,840.00. Following the sale, the director owned 6,917 shares in the company, valued at $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,819 shares of company stock valued at $16,885,492 over the last quarter. 0.33% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CAT has been the topic of several research reports. Citigroup raised their price target on shares of Caterpillar from $540.00 to $570.00 and gave the stock a "buy" rating in a research note on Tuesday. Jefferies Financial Group lifted their price objective on Caterpillar from $500.00 to $570.00 and gave the stock a "buy" rating in a research report on Wednesday. Evercore ISI upgraded Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 price objective on the stock in a research report on Tuesday, August 19th. DA Davidson lifted their price objective on Caterpillar from $331.00 to $388.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. lifted their price target on Caterpillar from $475.00 to $520.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, Caterpillar currently has a consensus rating of "Moderate Buy" and a consensus target price of $478.20.

Caterpillar Stock Down 0.4%

Shares of CAT opened at $500.10 on Friday. The firm has a market cap of $234.29 billion, a P/E ratio of 25.44, a price-to-earnings-growth ratio of 3.05 and a beta of 1.46. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $509.48. The company's 50-day moving average price is $441.97 and its 200 day moving average price is $382.85. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50.

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

Caterpillar Dividend Announcement

The company 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 of this dividend 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 presently 30.72%.

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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