Impact Partnership Wealth LLC Boosts Holdings in Caterpillar Inc. (NYSE:CAT)

Impact Partnership Wealth LLC increased its holdings in Caterpillar Inc. (NYSE:CAT) by 434.4% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,143 shares of the industrial products company’s stock after purchasing an additional 1,742 shares during the period. Impact Partnership Wealth LLC’s holdings in Caterpillar were worth $714,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CAT. Gilbert & Cook Inc. boosted its stake in shares of Caterpillar by 3.9% during the fourth quarter. Gilbert & Cook Inc. now owns 5,059 shares of the industrial products company’s stock valued at $1,496,000 after purchasing an additional 192 shares during the period. 9258 Wealth Management LLC increased its position in shares of Caterpillar by 1.5% in the fourth quarter. 9258 Wealth Management LLC now owns 3,839 shares of the industrial products company’s stock valued at $1,135,000 after acquiring an additional 55 shares during the period. Rollins Financial raised its stake in shares of Caterpillar by 49.1% during the fourth quarter. Rollins Financial now owns 6,395 shares of the industrial products company’s stock valued at $1,891,000 after acquiring an additional 2,107 shares during the last quarter. Gryphon Financial Partners LLC grew its stake in shares of Caterpillar by 6.6% in the fourth quarter. Gryphon Financial Partners LLC now owns 1,496 shares of the industrial products company’s stock worth $420,000 after purchasing an additional 92 shares during the last quarter. Finally, Wealthspire Advisors LLC increased its holdings in Caterpillar by 8.9% during the 4th quarter. Wealthspire Advisors LLC now owns 5,336 shares of the industrial products company’s stock valued at $1,578,000 after purchasing an additional 438 shares during the period. Institutional investors own 70.98% of the company’s stock.

Insider Activity

In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the sale, the insider now owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total value of $1,018,878.00. Following the transaction, the insider now owns 15,615 shares in the company, valued at approximately $5,347,825.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the sale, the insider now owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The disclosure for this sale can be found here. Insiders have sold a total of 7,668 shares of company stock valued at $2,665,760 in the last 90 days. 0.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Barclays lifted their price objective on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Truist Financial reissued a “buy” rating and set a $399.00 price objective (up from $390.00) on shares of Caterpillar in a research report on Wednesday, August 7th. Raymond James began coverage on shares of Caterpillar in a research report on Friday, June 28th. They issued a “market perform” rating for the company. Citigroup initiated coverage on shares of Caterpillar in a research report on Wednesday, June 26th. They set a “buy” rating and a $380.00 price target on the stock. Finally, UBS Group lifted their price objective on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Caterpillar currently has a consensus rating of “Hold” and an average target price of $336.31.

Caterpillar Stock Down 1.2 %

Shares of CAT traded down $4.03 on Thursday, hitting $332.72. 308,044 shares of the stock traded hands, compared to its average volume of 2,668,008. Caterpillar Inc. has a one year low of $223.76 and a one year high of $382.01. The company has a market capitalization of $162.72 billion, a PE ratio of 15.20, a P/E/G ratio of 1.66 and a beta of 1.12. The business has a 50 day simple moving average of $339.82 and a 200 day simple moving average of $343.25. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28.

Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, topping analysts’ consensus estimates of $5.53 by $0.46. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The business had revenue of $16.69 billion during the quarter, compared to analyst estimates of $16.91 billion. During the same quarter last year, the company earned $5.55 EPS. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. As a group, equities analysts forecast that Caterpillar Inc. will post 21.87 earnings per share for the current fiscal year.

Caterpillar announced that its board has approved a stock repurchase program on Wednesday, June 12th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 12.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Caterpillar Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd were given a $1.41 dividend. This is a positive change from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date was Monday, July 22nd. This represents a $5.64 dividend on an annualized basis and a yield of 1.70%. Caterpillar’s payout ratio is 25.46%.

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.