Tema Etfs LLC Purchases 6,630 Shares of Caterpillar Inc. $CAT

Key Points

• Tema Etfs LLC increased its stake in Caterpillar Inc. by 49.7%, bringing its total holdings to 19,958 shares valued at approximately $6.58 million.
• Caterpillar recently reported earnings of $4.72 EPS, missing analysts' expectations, while also experiencing a revenue of $16.57 billion for the quarter.
• The company announced an increased quarterly dividend of $1.51, representing a 1.4% yield and a boost from its previous dividend of $1.41.

Tema Etfs LLC increased its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 49.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,958 shares of the industrial products company's stock after purchasing an additional 6,630 shares during the quarter. Caterpillar comprises about 2.0% of Tema Etfs LLC's portfolio, making the stock its 14th biggest holding. Tema Etfs LLC's holdings in Caterpillar were worth $6,582,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CAT. GAMMA Investing LLC raised its position in Caterpillar by 43,447.3% in the first quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company's stock worth $1,230,239,000 after acquiring an additional 3,721,693 shares in the last quarter. Pacer Advisors Inc. raised its position in Caterpillar by 2,723.1% in the first quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company's stock worth $466,430,000 after acquiring an additional 1,364,183 shares in the last quarter. Nuveen LLC bought a new stake in Caterpillar in the first quarter worth about $391,788,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Caterpillar by 8.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,940,391 shares of the industrial products company's stock worth $1,429,416,000 after acquiring an additional 312,878 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Caterpillar in the fourth quarter worth about $108,958,000. 70.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Sanford C. Bernstein reiterated a "market perform" rating on shares of Caterpillar in a research report on Monday, July 14th. Melius upgraded shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price target on the stock in a research report on Wednesday, July 9th. DA Davidson boosted their price objective on Caterpillar from $331.00 to $388.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Baird R W upgraded Caterpillar from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Finally, Truist Financial boosted their price objective on Caterpillar from $414.00 to $507.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $455.53.

Insider Transactions at Caterpillar

In other news, Director Susan C. Schwab sold 2,324 shares of the company's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the transaction, the director owned 6,917 shares in the company, valued at $2,835,970. This represents a 25.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jason Kaiser sold 2,161 shares of the company's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of the transaction, the insider owned 8,632 shares in the company, valued at $3,605,586.40. This represents a 20.02% decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

Caterpillar Trading Down 3.5%

NYSE CAT traded down $15.35 on Monday, hitting $419.56. 3,669,497 shares of the company were exchanged, compared to its average volume of 3,232,065. The company's 50 day moving average price is $412.74 and its 200-day moving average price is $360.23. 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 firm has a market capitalization of $196.55 billion, a P/E ratio of 21.34, a price-to-earnings-growth ratio of 2.53 and a beta of 1.41. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $441.15.

Caterpillar (NYSE:CAT - Get Free Report) last posted 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 for the quarter, compared to analyst estimates of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.Caterpillar's quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.99 EPS. Analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st were issued a $1.51 dividend. The ex-dividend date was Monday, July 21st. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.4%. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's dividend payout ratio is currently 30.72%.

About Caterpillar

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.