CFC Planning Co LLC Acquires 784 Shares of Caterpillar Inc. $CAT

CFC Planning Co LLC grew its holdings in Caterpillar Inc. (NYSE:CAT) by 15.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,982 shares of the industrial products company’s stock after purchasing an additional 784 shares during the quarter. Caterpillar comprises about 2.2% of CFC Planning Co LLC’s portfolio, making the stock its 14th biggest position. CFC Planning Co LLC’s holdings in Caterpillar were worth $2,322,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CAT. Mediolanum International Funds Ltd lifted its stake in Caterpillar by 0.3% in the second quarter. Mediolanum International Funds Ltd now owns 90,255 shares of the industrial products company’s stock valued at $34,722,000 after buying an additional 274 shares during the period. Brandywine Global Investment Management LLC grew its position in shares of Caterpillar by 4.5% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 624,360 shares of the industrial products company’s stock worth $242,383,000 after buying an additional 27,111 shares during the period. Legal & General Group Plc increased its stake in shares of Caterpillar by 5.2% in the 2nd quarter. Legal & General Group Plc now owns 2,743,075 shares of the industrial products company’s stock valued at $1,064,889,000 after acquiring an additional 134,971 shares in the last quarter. Hillsdale Investment Management Inc. lifted its position in shares of Caterpillar by 361.2% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 4,737 shares of the industrial products company’s stock valued at $1,839,000 after acquiring an additional 3,710 shares during the period. Finally, YANKCOM Partnership boosted its stake in Caterpillar by 3.9% during the second quarter. YANKCOM Partnership now owns 2,261 shares of the industrial products company’s stock worth $878,000 after acquiring an additional 85 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CAT shares. Truist Financial reiterated a “buy” rating and set a $729.00 price objective (up previously from $582.00) on shares of Caterpillar in a report on Thursday, October 30th. Erste Group Bank raised Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Hsbc Global Res upgraded Caterpillar from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Robert W. Baird boosted their price objective on Caterpillar from $612.00 to $680.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Finally, Barclays upped their target price on Caterpillar from $485.00 to $555.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 30th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $610.32.

Insider Buying and Selling

In other news, Director David Maclennan purchased 300 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The shares were bought at an average cost of $568.86 per share, with a total value of $170,658.00. Following the completion of the transaction, the director directly owned 7,947 shares of the company’s stock, valued at approximately $4,520,730.42. This trade represents a 3.92% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Anthony D. Fassino sold 8,184 shares of the company’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $570.18, for a total transaction of $4,666,353.12. Following the completion of the sale, the insider directly owned 41,512 shares of the company’s stock, valued at $23,669,312.16. The trade was a 16.47% 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 over the last 90 days. 0.33% of the stock is currently owned by company insiders.

Caterpillar Stock Performance

Shares of CAT opened at $545.86 on Friday. The firm has a market capitalization of $255.45 billion, a P/E ratio of 28.02, a P/E/G ratio of 3.33 and a beta of 1.51. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $596.21. The stock has a 50 day moving average price of $516.30 and a two-hundred day moving average price of $433.49. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.81 and a current ratio of 1.38.

Caterpillar (NYSE:CAT) last announced its earnings results 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 return on equity of 47.16% and a net margin of 14.34%.The company had revenue of $17.64 billion for the quarter, compared to analysts’ expectations of $16.72 billion. During the same quarter in the previous year, the firm earned $5.17 earnings per share. Caterpillar’s quarterly revenue was up 9.5% on a year-over-year basis. Equities analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

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

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.