551 Shares in Caterpillar Inc. $CAT Purchased by PKS Advisory Services LLC

PKS Advisory Services LLC bought a new position in shares of Caterpillar Inc. (NYSE:CAT) during the 2nd quarter, Holdings Channel reports. The firm bought 551 shares of the industrial products company’s stock, valued at approximately $214,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Trivium Point Advisory LLC boosted its stake in shares of Caterpillar by 132.9% during the second quarter. Trivium Point Advisory LLC now owns 1,926 shares of the industrial products company’s stock valued at $748,000 after acquiring an additional 1,099 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Caterpillar by 9.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company’s stock valued at $26,037,000 after purchasing an additional 7,125 shares in the last quarter. Palmer Knight Co acquired a new stake in shares of Caterpillar during the 2nd quarter worth about $5,884,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in shares of Caterpillar by 11.2% in the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,315 shares of the industrial products company’s stock valued at $5,557,000 after buying an additional 1,440 shares during the last quarter. Finally, Ransom Advisory Ltd purchased a new position in shares of Caterpillar during the first quarter valued at approximately $427,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Performance

Caterpillar stock opened at $545.86 on Friday. The company has a market cap of $255.45 billion, a price-to-earnings ratio of 28.02, a price-to-earnings-growth ratio of 3.33 and a beta of 1.51. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $596.21. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.38 and a quick ratio of 0.81. The stock’s 50-day moving average is $516.30 and its 200-day moving average is $433.49.

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

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Monday, October 20th were paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Monday, October 20th. Caterpillar’s payout ratio is 31.01%.

Insider Transactions at Caterpillar

In related news, Director David Maclennan acquired 300 shares of Caterpillar stock in a transaction on Thursday, November 6th. The shares were purchased at an average cost of $568.86 per share, for a total transaction of $170,658.00. Following the purchase, the director directly owned 7,947 shares of the company’s stock, valued at $4,520,730.42. The trade was a 3.92% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO William E. Schaupp sold 1,200 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $572.22, for a total transaction of $686,664.00. Following the completion of the sale, the chief accounting officer directly owned 1,323 shares of the company’s stock, valued at $757,047.06. The trade was a 47.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 86,229 shares of company stock valued at $43,323,118 over the last ninety days. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on CAT. JPMorgan Chase & Co. lifted their target price on shares of Caterpillar from $650.00 to $730.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Oppenheimer upped their target price on Caterpillar from $513.00 to $645.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Truist Financial reissued a “buy” rating and issued a $729.00 price target (up from $582.00) on shares of Caterpillar in a research note on Thursday, October 30th. Evercore ISI upped their price objective on shares of Caterpillar from $476.00 to $630.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Morgan Stanley increased their price objective on shares of Caterpillar from $350.00 to $380.00 and gave the stock an “underweight” rating in a report on Thursday, October 30th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $610.32.

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.