Shell Asset Management Co. Increases Stake in Caterpillar Inc. $CAT

Shell Asset Management Co. lifted its stake in Caterpillar Inc. (NYSE:CAT) by 34.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,014 shares of the industrial products company’s stock after purchasing an additional 2,819 shares during the quarter. Shell Asset Management Co.’s holdings in Caterpillar were worth $4,276,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Compass Financial Services Inc lifted its stake in 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 period. Family Legacy Financial Solutions LLC acquired a new position in Caterpillar during the second quarter worth about $32,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Caterpillar in the first quarter valued at about $33,000. Fiduciary Wealth Partners LLC purchased a new position in Caterpillar during the first quarter worth about $45,000. Finally, Maseco LLP acquired a new stake in shares of Caterpillar during the second quarter worth about $45,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CAT shares. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Caterpillar in a research report on Monday, July 14th. Robert W. Baird lifted 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. Melius Research raised shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 target price on the stock in a report on Wednesday, July 9th. Jefferies Financial Group reissued a “buy” rating and issued a $500.00 price objective on shares of Caterpillar in a research note on Friday, August 29th. Finally, Truist Financial boosted their price objective on shares of Caterpillar from $414.00 to $507.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $466.53.

Insider Buying and Selling

In other Caterpillar news, Chairman Donald J. Umpleby III sold 17,166 shares of the company’s 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 transaction, the chairman directly owned 465,339 shares in the company, valued at approximately $215,289,088.35. This represents a 3.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Susan C. Schwab sold 2,324 shares of the company’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the transaction, the director owned 6,917 shares in the company, valued at approximately $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 38,819 shares of company stock worth $16,885,492 in the last three months. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Price Performance

Caterpillar stock opened at $486.86 on Wednesday. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $505.59. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. The firm’s 50-day simple moving average is $439.39 and its 200 day simple moving average is $380.92. The firm has a market capitalization of $228.09 billion, a PE ratio of 24.76, a P/E/G ratio of 3.01 and a beta of 1.46.

Caterpillar (NYSE:CAT) last released its quarterly earnings data 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 return on equity of 48.95% and a net margin of 14.95%.The business had revenue of $16.57 billion during the quarter, compared to analysts’ expectations of $16.14 billion. During the same quarter in the prior year, the firm earned $5.99 earnings per share. Caterpillar’s quarterly revenue was down .7% on a year-over-year basis. On average, equities research analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

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

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.