Arrowroot Family Office LLC Purchases Shares of 2,859 Caterpillar Inc. $CAT

Arrowroot Family Office LLC purchased a new stake in Caterpillar Inc. (NYSE:CAT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,859 shares of the industrial products company’s stock, valued at approximately $1,110,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CAT. Pacific Point Advisors LLC purchased a new stake in shares of Caterpillar in the 4th quarter valued at about $579,000. Brighton Jones LLC boosted its holdings in shares of Caterpillar by 51.5% in the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock worth $2,688,000 after purchasing an additional 2,519 shares in the last quarter. TD Private Client Wealth LLC boosted its holdings in shares of Caterpillar by 2.3% in the 1st quarter. TD Private Client Wealth LLC now owns 3,020 shares of the industrial products company’s stock worth $996,000 after purchasing an additional 69 shares in the last quarter. Beverly Hills Private Wealth LLC boosted its holdings in shares of Caterpillar by 3.3% in the 1st quarter. Beverly Hills Private Wealth LLC now owns 2,531 shares of the industrial products company’s stock worth $835,000 after purchasing an additional 81 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in shares of Caterpillar by 11.7% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 2,683 shares of the industrial products company’s stock worth $885,000 after purchasing an additional 282 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insiders Place Their Bets

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was 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 trade represents a 25.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Donald J. Umpleby III sold 17,166 shares of the stock in a transaction that occurred 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 completion of the sale, the chairman owned 448,173 shares of the company’s stock, valued at approximately $226,457,335.17. This trade represents a 3.69% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 55,985 shares of company stock worth $25,559,300. 0.33% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CAT shares. Truist Financial reiterated a “buy” rating and issued a $729.00 price objective (up from $582.00) on shares of Caterpillar in a report on Thursday, October 30th. Morgan Stanley upped their price objective on Caterpillar from $350.00 to $380.00 and gave the stock an “underweight” rating in a report on Thursday, October 30th. Bank of America upped their price objective on Caterpillar from $594.00 to $650.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. JPMorgan Chase & Co. upped their price objective on Caterpillar from $650.00 to $730.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Finally, DA Davidson upped their price objective on Caterpillar from $408.00 to $569.00 and gave the stock a “neutral” rating in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $584.50.

Caterpillar Trading Down 4.1%

Shares of CAT stock opened at $547.38 on Wednesday. The stock has a market capitalization of $256.44 billion, a PE ratio of 28.10, a P/E/G ratio of 3.33 and a beta of 1.51. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $596.21. The business has a 50-day moving average of $483.50 and a 200 day moving average of $413.75. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.38 and a quick ratio of 0.81.

Caterpillar (NYSE:CAT) last issued its earnings results on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share for the quarter, beating the consensus estimate of $4.52 by $0.43. The company had revenue of $17.64 billion during the quarter, compared to analysts’ expectations of $16.72 billion. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.Caterpillar’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 EPS. As a group, sell-side analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be issued a $1.51 dividend. The ex-dividend date is Monday, October 20th. This represents a $6.04 annualized dividend and a yield of 1.1%. Caterpillar’s dividend payout ratio (DPR) is 31.01%.

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.