Truvestments Capital LLC Has $4.49 Million Position in Caterpillar Inc. $CAT

Key Points

• Truvestments Capital LLC increased its position in Caterpillar Inc. by 33.5%, owning approximately 13,607 shares worth $4.49 million.
• The company recently reported earnings of $4.72 per share, missing estimates, while revenue reached $16.57 billion, exceeding expectations.
• Caterpillar has increased its quarterly dividend from $1.41 to $1.51, reflecting a 1.4% yield, with a payout ratio of 30.72%.

Truvestments Capital LLC raised its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 33.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,607 shares of the industrial products company's stock after buying an additional 3,411 shares during the quarter. Caterpillar comprises approximately 1.0% of Truvestments Capital LLC's investment portfolio, making the stock its 24th biggest holding. Truvestments Capital LLC's holdings in Caterpillar were worth $4,488,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CAT. Victrix Investment Advisors bought a new stake in shares of Caterpillar in the fourth quarter worth $2,090,000. Charles Schwab Investment Management Inc. lifted its position 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 purchasing an additional 15,347 shares in the last quarter. Pacific Point Advisors LLC bought a new stake in shares of Caterpillar in the fourth quarter worth $579,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of Caterpillar by 18.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 191,640 shares of the industrial products company's stock worth $63,202,000 after purchasing an additional 30,070 shares in the last quarter. Finally, Crestwood Advisors Group LLC lifted its position in shares of Caterpillar by 3.4% in the first quarter. Crestwood Advisors Group LLC now owns 22,689 shares of the industrial products company's stock worth $7,483,000 after purchasing an additional 743 shares in the last quarter. Institutional investors own 70.98% of the company's stock.

Analyst Ratings Changes

CAT has been the topic of a number of research reports. Sanford C. Bernstein reissued 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 objective on the stock in a research note on Wednesday, July 9th. Oppenheimer upped their target price on shares of Caterpillar from $395.00 to $483.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Evercore ISI raised 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, Robert W. Baird upped their target price on shares of Caterpillar from $395.00 to $422.00 and gave the company an "outperform" rating in a report on Friday, June 20th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $450.87.

Caterpillar Price Performance

NYSE:CAT opened at $431.05 on Wednesday. Caterpillar Inc. has a one year low of $267.30 and a one year high of $441.15. The company has a market cap of $201.94 billion, a P/E ratio of 21.93, a P/E/G ratio of 2.58 and a beta of 1.40. The firm's fifty day moving average price is $408.58 and its two-hundred day moving average price is $358.73. 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 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 during the quarter, compared to analyst estimates of $16.14 billion. During the same quarter last year, the company posted $5.99 earnings per share. The company's revenue was down .7% on a year-over-year basis. Equities analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Increases Dividend

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

Insider Buying and Selling

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of the firm'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 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jason Kaiser sold 2,161 shares of the firm's stock in a transaction that occurred on 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 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. Company insiders own 0.33% of the company's stock.

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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