Banco Santander S.A. Boosts Holdings in Caterpillar Inc. $CAT

Banco Santander S.A. increased its holdings in Caterpillar Inc. (NYSE:CAT) by 3.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 83,356 shares of the industrial products company’s stock after acquiring an additional 2,822 shares during the quarter. Banco Santander S.A.’s holdings in Caterpillar were worth $32,360,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Caterpillar in the second quarter worth approximately $28,000. Compass Financial Services Inc lifted its holdings in Caterpillar by 49.2% during the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 31 shares in the last quarter. Family Legacy Financial Solutions LLC purchased a new position in Caterpillar during the second quarter valued at approximately $32,000. Redmont Wealth Advisors LLC purchased a new position in Caterpillar during the first quarter valued at approximately $33,000. Finally, Harbor Asset Planning Inc. purchased a new position in Caterpillar during the second quarter valued at approximately $34,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Donald J. Umpleby III sold 17,166 shares of the business’s stock in a transaction on Friday, October 10th. The shares were sold at an average price of $505.29, for a total value of $8,673,808.14. Following the sale, the chairman owned 448,173 shares in the company, valued at approximately $226,457,335.17. The trade was a 3.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jason Kaiser sold 2,161 shares of the business’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the sale, the insider owned 8,632 shares in the company, valued at $3,605,586.40. This represents a 20.02% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,985 shares of company stock worth $25,559,300. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CAT. Truist Financial lifted their price target on shares of Caterpillar from $507.00 to $582.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Melius Research raised shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price target on the stock in a report on Wednesday, July 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Caterpillar in a report on Tuesday, October 14th. Melius raised shares of Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price target on the stock in a report on Wednesday, July 9th. Finally, Sanford C. Bernstein lifted their price target on shares of Caterpillar from $447.00 to $502.00 and gave the company a “market perform” rating in a report on Tuesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Caterpillar has a consensus rating of “Moderate Buy” and an average price target of $518.19.

Caterpillar Trading Up 0.3%

Caterpillar stock opened at $522.13 on Monday. The stock has a market cap of $244.60 billion, a P/E ratio of 26.56, a PEG ratio of 2.98 and a beta of 1.46. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $544.99. The firm’s 50 day moving average price is $464.46 and its 200-day moving average price is $399.92.

Caterpillar (NYSE:CAT) last released 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). The company had revenue of $16.57 billion for the quarter, compared to the consensus estimate 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 quarter in the previous year, the business earned $5.99 EPS. On average, equities analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

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