IFP Advisors Inc Buys 1,744 Shares of Caterpillar Inc. $CAT

IFP Advisors Inc grew its stake in shares of Caterpillar Inc. (NYSE:CAT) by 12.4% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 15,762 shares of the industrial products company’s stock after acquiring an additional 1,744 shares during the quarter. IFP Advisors Inc’s holdings in Caterpillar were worth $6,246,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Compass Financial Services Inc lifted 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 period. Family Legacy Financial Solutions LLC bought a new stake in shares of Caterpillar during the 2nd quarter worth $32,000. Redmont Wealth Advisors LLC bought a new stake in shares of Caterpillar during the 1st quarter worth $33,000. Fiduciary Wealth Partners LLC bought a new stake in shares of Caterpillar during the 1st quarter worth $45,000. Finally, Maseco LLP bought a new stake in shares of Caterpillar during the 2nd quarter worth $45,000. 70.98% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Jason Kaiser sold 2,161 shares of the 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 completion of the sale, the insider owned 8,632 shares of the company’s stock, valued at approximately $3,605,586.40. This represents a 20.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Susan C. Schwab sold 2,324 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $410.00, for a total value of $952,840.00. Following the completion of the sale, the director directly owned 6,917 shares of the company’s stock, valued at approximately $2,835,970. The trade was a 25.15% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,819 shares of company stock valued at $16,885,492. Company insiders own 0.33% of the company’s stock.

Caterpillar Price Performance

Shares of CAT opened at $500.10 on Friday. The stock has a market cap of $234.29 billion, a PE ratio of 25.44, a PEG ratio of 3.05 and a beta of 1.46. The business has a 50-day simple moving average of $441.97 and a two-hundred day simple moving average of $382.85. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $509.48.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing the consensus estimate of $4.88 by ($0.16). The company had revenue of $16.57 billion during the quarter, compared to analyst estimates of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The company’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the previous year, the company posted $5.99 EPS. Analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

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

Wall Street Analysts Forecast Growth

CAT has been the subject of several recent analyst reports. Robert W. Baird upped their price objective on Caterpillar from $495.00 to $540.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 17th. Melius Research upgraded Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price objective for the company in a research report on Wednesday, July 9th. Truist Financial upped their price objective on Caterpillar from $507.00 to $582.00 and gave the stock a “buy” rating in a research report on Wednesday. Melius raised Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 target price for the company in a report on Wednesday, July 9th. Finally, Bank of America upped their target price on Caterpillar from $495.00 to $517.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Caterpillar currently has an average rating of “Moderate Buy” and an average price target of $478.20.

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.