Richwood Investment Advisors LLC Sells 54 Shares of Caterpillar Inc. $CAT

Richwood Investment Advisors LLC lowered its position in Caterpillar Inc. (NYSE:CAT) by 1.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,159 shares of the industrial products company’s stock after selling 54 shares during the quarter. Caterpillar accounts for approximately 1.0% of Richwood Investment Advisors LLC’s investment portfolio, making the stock its 21st largest position. Richwood Investment Advisors LLC’s holdings in Caterpillar were worth $1,226,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Family Legacy Financial Solutions LLC acquired a new position in Caterpillar during the 2nd quarter worth about $32,000. Compass Financial Services Inc lifted its stake in shares of Caterpillar by 49.2% in the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 31 shares during the period. Redmont Wealth Advisors LLC bought a new stake in Caterpillar in the first quarter valued at approximately $33,000. Maseco LLP acquired a new stake in Caterpillar during the 2nd quarter valued at approximately $45,000. Finally, Park Place Capital Corp raised its holdings in Caterpillar by 47.6% during the 2nd quarter. Park Place Capital Corp now owns 124 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 40 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on CAT. Robert W. Baird boosted their target price on shares of Caterpillar from $495.00 to $540.00 and gave the company an “outperform” rating in a report on Wednesday, September 17th. Barclays boosted their price objective on Caterpillar from $383.00 to $425.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. JPMorgan Chase & Co. raised their target price on Caterpillar from $475.00 to $520.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 6th. Oppenheimer boosted their price target on Caterpillar from $480.00 to $513.00 and gave the company an “outperform” rating in a research note on Monday, September 29th. Finally, Truist Financial increased their price target 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, thirteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $466.53.

Caterpillar Stock Performance

CAT opened at $495.80 on Tuesday. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $505.59. The company has a market cap of $232.27 billion, a price-to-earnings ratio of 25.22, a PEG ratio of 3.03 and a beta of 1.46. The company’s fifty day moving average price is $438.25 and its two-hundred day moving average price is $380.18. 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) last issued its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing analysts’ consensus estimates of $4.88 by ($0.16). The company had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the prior year, the firm posted $5.99 earnings per share. On average, analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s payout ratio is currently 30.72%.

Insider Transactions at Caterpillar

In other news, Chairman Donald J. Umpleby III sold 17,166 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $462.65, for a total value of $7,941,849.90. Following the completion of the sale, the chairman owned 465,339 shares in the company, valued at $215,289,088.35. This represents a 3.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction of $952,840.00. Following the completion of the sale, the director directly 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 a total of 38,819 shares of company stock worth $16,885,492 in the last quarter. 0.33% of the stock is currently owned by corporate 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.