Caterpillar Inc. $CAT Shares Sold by LSV Asset Management

LSV Asset Management reduced its position in Caterpillar Inc. (NYSE:CAT) by 0.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 93,300 shares of the industrial products company’s stock after selling 120 shares during the quarter. LSV Asset Management’s holdings in Caterpillar were worth $36,220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Root Financial Partners LLC boosted its stake in shares of Caterpillar by 83.1% during the 2nd quarter. Root Financial Partners LLC now owns 3,114 shares of the industrial products company’s stock worth $1,209,000 after acquiring an additional 1,413 shares in the last quarter. Landaas & Co. WI ADV raised its holdings in Caterpillar by 17.9% in the 2nd quarter. Landaas & Co. WI ADV now owns 1,733 shares of the industrial products company’s stock worth $673,000 after purchasing an additional 263 shares during the period. Rothschild Investment LLC boosted its position in Caterpillar by 6.7% during the second quarter. Rothschild Investment LLC now owns 27,891 shares of the industrial products company’s stock worth $10,828,000 after purchasing an additional 1,754 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in Caterpillar by 10.2% in the second quarter. Nomura Asset Management Co. Ltd. now owns 340,368 shares of the industrial products company’s stock valued at $132,134,000 after purchasing an additional 31,466 shares during the period. Finally, Pinnacle Financial Group LLC IL increased its position in shares of Caterpillar by 17.8% in the second quarter. Pinnacle Financial Group LLC IL now owns 1,451 shares of the industrial products company’s stock valued at $563,000 after buying an additional 219 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Performance

NYSE:CAT opened at $546.75 on Wednesday. The company has a market cap of $255.87 billion, a P/E ratio of 28.07, a P/E/G ratio of 3.33 and a beta of 1.51. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $596.21. The company’s 50-day moving average price is $511.40 and its 200-day moving average price is $431.86. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 1.34.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.52 by $0.43. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The company had revenue of $17.64 billion during the quarter, compared to analysts’ expectations of $16.72 billion. During the same quarter in the prior year, the company earned $5.17 EPS. Caterpillar’s revenue was up 9.5% compared to the same quarter last year. On average, sell-side analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

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

Insider Activity

In other Caterpillar news, Chairman Donald J. Umpleby III sold 17,168 shares of the business’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the transaction, the chairman owned 482,505 shares of the company’s stock, valued at approximately $199,211,839.35. The trade was a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO William E. Schaupp sold 1,200 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $572.22, for a total value 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. This trade represents a 47.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 86,229 shares of company stock valued at $43,323,118 in the last 90 days. 0.33% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CAT shares. UBS Group increased their target price on Caterpillar from $506.00 to $581.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. Truist Financial reaffirmed a “buy” rating and set a $729.00 price objective (up from $582.00) on shares of Caterpillar in a report on Thursday, October 30th. Wells Fargo & Company assumed coverage on shares of Caterpillar in a research note on Thursday, November 13th. They set an “overweight” rating and a $675.00 target price for the company. Barclays upped their price target 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. Finally, Jefferies Financial Group lifted their price objective on Caterpillar from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Three analysts have rated the stock with a Strong Buy rating, fifteen 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 stock presently has a consensus rating of “Moderate Buy” and an average price target of $600.94.

Caterpillar Company 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.