Wilmington Savings Fund Society FSB Increases Position in Caterpillar Inc. $CAT

Wilmington Savings Fund Society FSB grew its stake in Caterpillar Inc. (NYSE:CATFree Report) by 1.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,099 shares of the industrial products company’s stock after acquiring an additional 231 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Caterpillar were worth $7,803,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Pacific Point Advisors LLC purchased a new position in Caterpillar in the 4th quarter worth $579,000. Brighton Jones LLC raised its stake in shares of Caterpillar by 51.5% during the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock valued at $2,688,000 after buying an additional 2,519 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Caterpillar by 32.0% in the 1st quarter. GAMMA Investing LLC now owns 11,311 shares of the industrial products company’s stock valued at $3,730,000 after purchasing an additional 2,745 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Caterpillar by 18.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 191,640 shares of the industrial products company’s stock valued at $63,202,000 after purchasing an additional 30,070 shares in the last quarter. Finally, Abound Wealth Management increased its stake in shares of Caterpillar by 90.9% in the 1st quarter. Abound Wealth Management now owns 418 shares of the industrial products company’s stock valued at $138,000 after purchasing an additional 199 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CAT shares. Truist Financial lifted their price objective on Caterpillar from $507.00 to $582.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price target on shares of Caterpillar from $475.00 to $520.00 and gave the company an “overweight” rating in a research report on Wednesday, August 6th. Oppenheimer lifted their price target on shares of Caterpillar from $480.00 to $513.00 and gave the company an “outperform” rating in a research report on Monday, September 29th. Barclays boosted their target price on Caterpillar from $383.00 to $425.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 6th. Finally, Melius Research raised Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 target price on the stock in a research report on Wednesday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $488.13.

Check Out Our Latest Report on CAT

Insider Transactions at Caterpillar

In other news, Chairman Donald J. Umpleby III sold 17,166 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $462.65, for a total transaction of $7,941,849.90. Following the completion of the sale, the chairman owned 465,339 shares in the company, valued at approximately $215,289,088.35. This represents a 3.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jason Kaiser sold 2,161 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the sale, the insider owned 8,632 shares of the company’s stock, valued at $3,605,586.40. This trade represents a 20.02% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,819 shares of company stock worth $16,885,492. Company insiders own 0.33% of the company’s stock.

Caterpillar Stock Performance

Shares of CAT stock opened at $505.11 on Tuesday. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. The firm has a fifty day moving average price of $444.65 and a 200 day moving average price of $385.71. The company has a market cap of $236.64 billion, a P/E ratio of 25.69, a PEG ratio of 3.01 and a beta of 1.46. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $511.50.

Caterpillar (NYSE:CATGet Free Report) last issued its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 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 firm had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. During the same quarter in the previous year, the firm posted $5.99 EPS. The business’s revenue for the quarter was down .7% on a year-over-year basis. Sell-side analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be paid a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.2%. The ex-dividend date is Monday, October 20th. Caterpillar’s dividend payout ratio is currently 30.72%.

Caterpillar Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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