Tiemann Investment Advisors LLC Has $1.12 Million Stock Holdings in Caterpillar Inc. $CAT

Tiemann Investment Advisors LLC decreased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 8.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,874 shares of the industrial products company’s stock after selling 280 shares during the quarter. Tiemann Investment Advisors LLC’s holdings in Caterpillar were worth $1,116,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Valeo Financial Advisors LLC increased its holdings in Caterpillar by 36,842.1% in the 2nd quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock worth $2,833,836,000 after purchasing an additional 7,279,991 shares in the last quarter. Pacer Advisors Inc. increased its position in Caterpillar by 2,723.1% in the 1st quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company’s stock valued at $466,430,000 after acquiring an additional 1,364,183 shares during the period. Nuveen LLC acquired a new position in shares of Caterpillar during the first quarter worth $391,788,000. Assenagon Asset Management S.A. grew its stake in shares of Caterpillar by 546.6% in the second quarter. Assenagon Asset Management S.A. now owns 843,093 shares of the industrial products company’s stock worth $327,297,000 after purchasing an additional 712,711 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Caterpillar by 9.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company’s stock worth $1,064,951,000 after purchasing an additional 268,300 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Insider Activity

In other news, Chairman Donald J. Umpleby III sold 17,168 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was 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 directly owned 482,505 shares of the company’s stock, valued at $199,211,839.35. This represents a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director David Maclennan bought 300 shares of the firm’s stock in a transaction dated Thursday, November 6th. The shares were acquired at an average cost of $568.86 per share, with a total value of $170,658.00. Following the completion of the transaction, the director owned 7,947 shares in the company, valued at approximately $4,520,730.42. The trade was a 3.92% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have sold 69,662 shares of company stock worth $33,575,140. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Price Performance

Shares of NYSE CAT opened at $570.99 on Tuesday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.81 and a current ratio of 1.38. The firm’s 50-day simple moving average is $494.80 and its 200 day simple moving average is $421.45. The stock has a market cap of $267.21 billion, a price-to-earnings ratio of 29.31, a PEG ratio of 3.33 and a beta of 1.51. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $596.21.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $4.95 EPS for the quarter, topping the consensus estimate of $4.52 by $0.43. The firm had revenue of $17.64 billion during the quarter, compared to the consensus estimate of $16.72 billion. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The company’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the business posted $5.17 earnings per share. As a group, research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently announced 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 is Monday, October 20th. This represents a $6.04 annualized dividend and a dividend yield of 1.1%. Caterpillar’s dividend payout ratio is presently 31.01%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Oppenheimer raised their price objective on Caterpillar from $513.00 to $645.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Truist Financial restated a “buy” rating and issued a $729.00 price target (up previously from $582.00) on shares of Caterpillar in a research report on Thursday, October 30th. Barclays increased their price objective on shares of Caterpillar from $485.00 to $555.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 30th. JPMorgan Chase & Co. boosted their target price on shares of Caterpillar from $650.00 to $730.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Finally, Erste Group Bank raised Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Caterpillar has a consensus rating of “Moderate Buy” and a consensus price target of $596.59.

Caterpillar 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.