Caterpillar Inc. $CAT Position Increased by TFB Advisors LLC

TFB Advisors LLC increased its stake in Caterpillar Inc. (NYSE:CAT) by 6.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,607 shares of the industrial products company’s stock after purchasing an additional 98 shares during the period. TFB Advisors LLC’s holdings in Caterpillar were worth $624,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Patten Group Inc. lifted its holdings in shares of Caterpillar by 8.8% in the 2nd quarter. Patten Group Inc. now owns 2,006 shares of the industrial products company’s stock worth $779,000 after purchasing an additional 163 shares during the last quarter. Members Trust Co increased its position in Caterpillar by 1.0% in the 2nd quarter. Members Trust Co now owns 11,449 shares of the industrial products company’s stock valued at $4,445,000 after acquiring an additional 109 shares during the period. Family Capital Management Inc. increased its position in Caterpillar by 23.5% in the 2nd quarter. Family Capital Management Inc. now owns 1,008 shares of the industrial products company’s stock valued at $391,000 after acquiring an additional 192 shares during the period. Brookstone Capital Management increased its position in Caterpillar by 10.3% in the 2nd quarter. Brookstone Capital Management now owns 61,428 shares of the industrial products company’s stock valued at $23,847,000 after acquiring an additional 5,717 shares during the period. Finally, Phillips Financial Management LLC acquired a new stake in Caterpillar in the 2nd quarter valued at approximately $216,000. Institutional investors own 70.98% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. UBS Group raised their target price on Caterpillar from $450.00 to $506.00 and gave the company a “neutral” rating in a research report on Monday, October 13th. Sanford C. Bernstein raised their target price on Caterpillar from $447.00 to $502.00 and gave the company a “market perform” rating in a research report on Tuesday, October 14th. Evercore ISI upgraded Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 target price on the stock in a research report on Tuesday, August 19th. Jefferies Financial Group raised their target price on Caterpillar from $500.00 to $570.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Finally, Truist Financial lifted their price target on Caterpillar from $507.00 to $582.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $518.19.

Caterpillar Stock Down 2.1%

Shares of CAT stock opened at $513.70 on Thursday. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $544.99. The stock has a market cap of $240.66 billion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 2.99 and a beta of 1.46. The business’s fifty day moving average is $460.10 and its 200-day moving average is $394.97. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results 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 firm had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. During the same quarter last year, the business posted $5.99 earnings per share. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. Equities analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be paid a dividend of $1.51 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $6.04 annualized dividend and a dividend yield of 1.2%. Caterpillar’s dividend payout ratio (DPR) is currently 30.72%.

Insider Transactions at Caterpillar

In other news, insider Jason Kaiser sold 2,161 shares of the firm’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 directly owned 8,632 shares of the company’s stock, valued at $3,605,586.40. This trade represents a 20.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Susan C. Schwab sold 2,324 shares of the firm’s stock in a transaction 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 sale, the director directly owned 6,917 shares of the company’s stock, 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 sold a total of 55,985 shares of company stock valued at $25,559,300 in the last three months. 0.33% of the stock is currently owned by corporate insiders.

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.