Zullo Investment Group Inc. Boosts Stock Holdings in Caterpillar Inc. $CAT

Zullo Investment Group Inc. boosted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 2.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,084 shares of the industrial products company’s stock after acquiring an additional 52 shares during the period. Zullo Investment Group Inc.’s holdings in Caterpillar were worth $809,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Compass Financial Services Inc lifted its position in Caterpillar by 49.2% during the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 31 shares during the last quarter. Family Legacy Financial Solutions LLC bought a new stake in shares of Caterpillar in the 2nd quarter worth about $32,000. Redmont Wealth Advisors LLC bought a new stake in shares of Caterpillar in the 1st quarter worth about $33,000. Total Wealth Planning & Management Inc. bought a new stake in shares of Caterpillar in the 2nd quarter worth about $38,000. Finally, Fiduciary Wealth Partners LLC bought a new stake in shares of Caterpillar in the 1st quarter worth about $45,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CAT shares. Sanford C. Bernstein restated a “market perform” rating on shares of Caterpillar in a report on Monday, July 14th. Barclays raised their target price on shares of Caterpillar from $383.00 to $425.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. Jefferies Financial Group lifted their price objective on shares of Caterpillar from $500.00 to $570.00 and gave the company a “buy” rating in a report on Wednesday. Robert W. Baird lifted their price objective on shares of Caterpillar from $495.00 to $540.00 and gave the company an “outperform” rating in a report on Wednesday, September 17th. Finally, DA Davidson lifted their price objective on shares of Caterpillar from $331.00 to $388.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Caterpillar has an average rating of “Moderate Buy” and a consensus target price of $478.20.

Insiders Place Their Bets

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $410.00, for a total transaction of $952,840.00. Following the sale, the director owned 6,917 shares of the company’s stock, valued at approximately $2,835,970. The trade was a 25.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Donald J. Umpleby III sold 17,166 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $462.65, for a total transaction of $7,941,849.90. Following the sale, the chairman directly owned 465,339 shares in the company, valued at approximately $215,289,088.35. This represents a 3.56% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,819 shares of company stock valued at $16,885,492. Insiders own 0.33% of the company’s stock.

Caterpillar Stock Down 1.7%

Shares of Caterpillar stock opened at $491.67 on Friday. The firm’s 50 day moving average price is $443.23 and its 200-day moving average price is $383.88. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $511.50. The company has a market cap of $230.34 billion, a P/E ratio of 25.01, a PEG ratio of 3.04 and a beta of 1.46.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data 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 firm had revenue of $16.57 billion during the quarter, compared to analysts’ expectations of $16.14 billion. During the same period in the previous year, the firm earned $5.99 EPS. The firm’s quarterly revenue was down .7% on a year-over-year basis. On average, sell-side analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

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

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.