US Bancorp DE Sells 12,020 Shares of Caterpillar Inc. $CAT

Key Points

• US Bancorp DE sold 12,020 shares of Caterpillar Inc. during the second quarter, reducing its holdings by 2.3%, now owning approximately 518,577 shares valued at $201.3 million.
• Insider transactions include Jason Kaiser selling 2,161 shares and Donald J. Umpleby III selling 17,168 shares, indicating a notable decrease in their ownership stakes in the company.
• Caterpillar recently reported quarterly earnings, with an earnings per share of $4.72, falling short of estimates, while also announcing a quarterly dividend of $1.51 to be paid in November.

US Bancorp DE reduced its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 2.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 518,577 shares of the industrial products company's stock after selling 12,020 shares during the quarter. US Bancorp DE owned about 0.11% of Caterpillar worth $201,317,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Compass Financial Services Inc boosted its position in shares of 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 acquiring an additional 31 shares during the last quarter. Family Legacy Financial Solutions LLC bought a new stake in Caterpillar in the second quarter worth $32,000. Redmont Wealth Advisors LLC bought a new stake in Caterpillar in the first quarter worth $33,000. Fiduciary Wealth Partners LLC bought a new stake in Caterpillar in the first quarter worth $45,000. Finally, Maseco LLP bought a new stake in Caterpillar in the second quarter worth $45,000. 70.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $417.70, for a total value of $902,649.70. Following the transaction, the insider owned 8,632 shares in the company, valued at $3,605,586.40. The trade was a 20.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Donald J. Umpleby III sold 17,168 shares of Caterpillar stock in a transaction dated Tuesday, September 2nd. The shares were 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 owned 482,505 shares in the company, valued at $199,211,839.35. This trade represents a 3.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,819 shares of company stock worth $16,885,492 over the last quarter. Insiders own 0.33% of the company's stock.

Caterpillar Stock Up 3.2%

Shares of NYSE CAT opened at $502.08 on Thursday. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $509.48. The stock's fifty day simple moving average is $440.73 and its two-hundred day simple moving average is $381.76. The stock has a market capitalization of $235.21 billion, a PE ratio of 25.54, a price-to-earnings-growth ratio of 2.96 and a beta of 1.46. 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 for the quarter, missing analysts' consensus estimates of $4.88 by ($0.16). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The company had revenue of $16.57 billion for the quarter, compared to analysts' expectations of $16.14 billion. During the same quarter last year, the company earned $5.99 earnings per share. The company's revenue for the quarter was down .7% compared to the same quarter last year. As a group, analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be paid a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.2%. The ex-dividend date is Monday, October 20th. Caterpillar's payout ratio is 30.72%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Barclays raised their price target on Caterpillar from $383.00 to $425.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Truist Financial increased their target price on Caterpillar from $507.00 to $582.00 and gave the stock a "buy" rating in a research note on Wednesday. Evercore ISI upgraded Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 target price on the stock in a research note on Tuesday, August 19th. Erste Group Bank upgraded Caterpillar from a "hold" rating to a "buy" rating in a research note on Friday, October 3rd. Finally, Oppenheimer increased their target price on Caterpillar from $480.00 to $513.00 and gave the stock an "outperform" rating in a research note on Monday, September 29th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $473.53.

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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