Copperwynd Financial LLC Reduces Position in Caterpillar Inc. $CAT

Copperwynd Financial LLC lessened its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 26.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,849 shares of the industrial products company’s stock after selling 655 shares during the period. Copperwynd Financial LLC’s holdings in Caterpillar were worth $718,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Trivium Point Advisory LLC boosted its holdings in shares of Caterpillar by 132.9% in the second quarter. Trivium Point Advisory LLC now owns 1,926 shares of the industrial products company’s stock valued at $748,000 after purchasing an additional 1,099 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Caterpillar by 9.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company’s stock valued at $26,037,000 after purchasing an additional 7,125 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of Caterpillar by 11.2% in the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,315 shares of the industrial products company’s stock valued at $5,557,000 after purchasing an additional 1,440 shares during the period. Ransom Advisory Ltd purchased a new stake in shares of Caterpillar in the first quarter valued at approximately $427,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Caterpillar by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company’s stock worth $1,089,798,000 after buying an additional 15,347 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

Shares of CAT stock opened at $502.08 on Thursday. The business’s fifty day simple moving average is $440.73 and its 200-day simple moving average is $381.76. The company has a market cap of $235.21 billion, a PE ratio of 25.54, a PEG ratio of 2.96 and a beta of 1.46. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $509.48.

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 analysts’ consensus estimates of $4.88 by ($0.16). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The business had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. During the same period in the previous year, the company posted $5.99 earnings per share. The business’s revenue for the quarter was down .7% on a year-over-year basis. Analysts expect 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 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 dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s dividend payout ratio is presently 30.72%.

Insider Activity at Caterpillar

In related news, Director Susan C. Schwab sold 2,324 shares of the company’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 transaction, the director directly owned 6,917 shares of the company’s stock, valued at $2,835,970. This represents a 25.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jason Kaiser sold 2,161 shares of the company’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of the transaction, the insider directly owned 8,632 shares in the company, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,819 shares of company stock valued at $16,885,492 in the last ninety days. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

CAT has been the subject of a number of recent research reports. Jefferies Financial Group reissued a “buy” rating and issued a $500.00 price objective on shares of Caterpillar in a research note on Friday, August 29th. Robert W. Baird boosted their price objective on shares of Caterpillar from $495.00 to $540.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 17th. JPMorgan Chase & Co. boosted their price objective on shares of Caterpillar from $475.00 to $520.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 6th. DA Davidson boosted their price objective on shares of Caterpillar from $331.00 to $388.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 22nd. Finally, Truist Financial boosted their price objective on shares of Caterpillar from $507.00 to $582.00 and gave the stock a “buy” rating in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $473.53.

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.