Stenger Family Office LLC Takes Position in Caterpillar Inc. $CAT

Stenger Family Office LLC acquired a new stake in shares of Caterpillar Inc. (NYSE:CAT) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 7,411 shares of the industrial products company’s stock, valued at approximately $2,877,000.

Several other hedge funds and other institutional investors have also bought and sold shares of CAT. Aire Advisors LLC boosted its stake in shares of Caterpillar by 0.3% in the 2nd quarter. Aire Advisors LLC now owns 9,042 shares of the industrial products company’s stock worth $3,510,000 after buying an additional 25 shares during the last quarter. Dumont & Blake Investment Advisors LLC boosted its position in Caterpillar by 0.5% in the second quarter. Dumont & Blake Investment Advisors LLC now owns 4,954 shares of the industrial products company’s stock worth $1,923,000 after purchasing an additional 25 shares during the last quarter. Redwood Wealth Management Group LLC grew its stake in shares of Caterpillar by 0.9% during the 2nd quarter. Redwood Wealth Management Group LLC now owns 2,669 shares of the industrial products company’s stock valued at $1,036,000 after purchasing an additional 25 shares during the period. Tsfg LLC boosted its holdings in shares of Caterpillar by 9.8% in the second quarter. Tsfg LLC now owns 279 shares of the industrial products company’s stock worth $108,000 after buying an additional 25 shares during the last quarter. Finally, GSB Wealth Management LLC increased its holdings in Caterpillar by 1.2% during the second quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company’s stock valued at $832,000 after buying an additional 26 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CAT shares. Barclays upped their price objective on Caterpillar from $485.00 to $555.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 30th. JPMorgan Chase & Co. raised their price objective on Caterpillar from $650.00 to $730.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Evercore ISI boosted their price objective on Caterpillar from $476.00 to $630.00 and gave the company an “outperform” rating in a research note on Monday, November 17th. Robert W. Baird raised their target price on shares of Caterpillar from $612.00 to $680.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Finally, Erste Group Bank upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $610.32.

Insider Activity

In other Caterpillar news, insider Lange Bob De sold 14,638 shares of Caterpillar stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $562.36, for a total value of $8,231,825.68. Following the completion of the transaction, the insider directly owned 80,209 shares of the company’s stock, valued at $45,106,333.24. This trade represents a 15.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Anthony D. Fassino sold 8,184 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $570.18, for a total transaction of $4,666,353.12. Following the sale, the insider owned 41,512 shares in the company, valued at $23,669,312.16. This represents a 16.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 79,061 shares of company stock worth $41,949,366. 0.33% of the stock is owned by corporate insiders.

Caterpillar Stock Performance

CAT opened at $603.27 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.86 and a current ratio of 1.38. The stock has a market capitalization of $282.32 billion, a price-to-earnings ratio of 30.97, a PEG ratio of 2.82 and a beta of 1.57. The company has a fifty day moving average of $542.45 and a 200 day moving average of $451.75. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $607.00.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $4.95 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 business had revenue of $17.64 billion during the quarter, compared to the consensus estimate of $16.72 billion. During the same quarter in the prior year, the firm earned $5.17 EPS. The business’s revenue was up 9.5% on a year-over-year basis. As a group, sell-side analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, October 20th were issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, October 20th. Caterpillar’s dividend payout ratio is 31.01%.

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.