Daymark Wealth Partners LLC Sells 103 Shares of Caterpillar Inc. $CAT

Daymark Wealth Partners LLC reduced its stake in Caterpillar Inc. (NYSE:CAT) by 1.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,347 shares of the industrial products company’s stock after selling 103 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Caterpillar were worth $3,240,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Valeo Financial Advisors LLC lifted its position in Caterpillar by 36,842.1% in the 2nd quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock valued at $2,833,836,000 after acquiring an additional 7,279,991 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Caterpillar by 6.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,204,445 shares of the industrial products company’s stock valued at $1,386,626,000 after acquiring an additional 264,054 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Caterpillar by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company’s stock valued at $1,089,798,000 after acquiring an additional 15,347 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Caterpillar by 9.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company’s stock valued at $1,064,951,000 after acquiring an additional 268,300 shares in the last quarter. Finally, Invesco Ltd. lifted its position in Caterpillar by 5.0% in the 1st quarter. Invesco Ltd. now owns 3,141,936 shares of the industrial products company’s stock valued at $1,036,211,000 after acquiring an additional 150,533 shares in the last quarter. 70.98% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of the sale, the insider owned 8,632 shares in the company, valued at approximately $3,605,586.40. This represents a 20.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total value of $7,088,152.16. Following the completion of the sale, the chairman owned 482,505 shares of the company’s stock, valued at $199,211,839.35. The trade was a 3.44% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 55,985 shares of company stock valued at $25,559,300. 0.33% of the stock is owned by company insiders.

Caterpillar Price Performance

Shares of Caterpillar stock opened at $586.77 on Thursday. Caterpillar Inc. has a one year low of $267.30 and a one year high of $596.21. The stock’s fifty day moving average is $472.25 and its 200 day moving average is $405.20. The stock has a market cap of $274.89 billion, a P/E ratio of 29.85, a P/E/G ratio of 2.99 and a beta of 1.46. 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 announced its earnings results on Wednesday, October 29th. The industrial products company reported $4.95 EPS for the quarter, topping analysts’ consensus estimates of $4.52 by $0.43. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The company had revenue of $17.64 billion for the quarter, compared to analysts’ expectations of $16.72 billion. During the same period last year, the firm earned $5.17 EPS. Caterpillar’s revenue for the quarter was up 9.5% compared to the same quarter last year. Sell-side analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s dividend payout ratio (DPR) is currently 30.72%.

Analyst Ratings Changes

Several equities analysts recently issued reports on CAT shares. Oppenheimer upped their price objective on Caterpillar from $480.00 to $513.00 and gave the company an “outperform” rating in a research report on Monday, September 29th. Bank of America boosted their target price on shares of Caterpillar from $517.00 to $594.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Erste Group Bank upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Truist Financial boosted their target price on shares of Caterpillar from $507.00 to $582.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Finally, Robert W. Baird boosted their target price on shares of Caterpillar from $540.00 to $612.00 in a research note on Monday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $518.19.

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.