Caterpillar Inc. $CAT is Community Bank of Raymore’s 4th Largest Position

Community Bank of Raymore cut its stake in Caterpillar Inc. (NYSE:CAT) by 4.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,521 shares of the industrial products company’s stock after selling 945 shares during the period. Caterpillar makes up about 5.3% of Community Bank of Raymore’s holdings, making the stock its 4th largest holding. Community Bank of Raymore’s holdings in Caterpillar were worth $7,190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Aire Advisors LLC grew its position in Caterpillar by 0.3% in the second quarter. Aire Advisors LLC now owns 9,042 shares of the industrial products company’s stock worth $3,510,000 after acquiring an additional 25 shares during the period. Dumont & Blake Investment Advisors LLC grew its position in Caterpillar by 0.5% in the second quarter. Dumont & Blake Investment Advisors LLC now owns 4,954 shares of the industrial products company’s stock worth $1,923,000 after acquiring an additional 25 shares during the period. GSB Wealth Management LLC grew its position in Caterpillar by 1.2% in the second quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company’s stock worth $832,000 after acquiring an additional 26 shares during the period. Verum Partners LLC grew its position in Caterpillar by 2.5% in the second quarter. Verum Partners LLC now owns 1,059 shares of the industrial products company’s stock worth $411,000 after acquiring an additional 26 shares during the period. Finally, Vanguard Capital Wealth Advisors grew its position in Caterpillar by 0.8% in the second quarter. Vanguard Capital Wealth Advisors now owns 3,575 shares of the industrial products company’s stock worth $1,388,000 after acquiring an additional 27 shares during the period. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CAT. Evercore ISI upgraded Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price objective for the company in a research report on Tuesday, August 19th. JPMorgan Chase & Co. increased their price objective on Caterpillar from $505.00 to $650.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Weiss Ratings restated a “buy (b)” rating on shares of Caterpillar in a research note on Tuesday, October 14th. Robert W. Baird upped their price target on Caterpillar from $495.00 to $540.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 17th. Finally, Truist Financial upped their price target on Caterpillar from $507.00 to $582.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $510.60.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Chairman Donald J. Umpleby III sold 17,166 shares of the firm’s stock in a transaction on Friday, October 10th. The stock was sold at an average price of $505.29, for a total value of $8,673,808.14. Following the sale, the chairman directly owned 448,173 shares in the company, valued at $226,457,335.17. This trade represents a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of the firm’s stock in a transaction 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 completion of the sale, the director owned 6,917 shares in the company, valued at approximately $2,835,970. This represents a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,985 shares of company stock worth $25,559,300 over the last ninety days. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Stock Down 2.5%

Shares of NYSE CAT opened at $527.41 on Monday. The stock has a market cap of $247.08 billion, a P/E ratio of 26.83, a PEG ratio of 3.00 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 Inc. has a 12-month low of $267.30 and a 12-month high of $544.99. The business’s fifty day simple moving average is $453.38 and its 200-day simple moving average is $391.52.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (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 company had revenue of $16.57 billion during the quarter, compared to analyst estimates of $16.14 billion. During the same quarter in the previous year, the business posted $5.99 earnings per share. The firm’s revenue was down .7% on a year-over-year basis. As a group, equities analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a yield of 1.1%. Caterpillar’s dividend payout ratio (DPR) is currently 30.72%.

About Caterpillar

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.