Caterpillar Inc. $CAT Shares Sold by Venturi Wealth Management LLC

Venturi Wealth Management LLC lessened its stake in Caterpillar Inc. (NYSE:CAT) by 15.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,752 shares of the industrial products company’s stock after selling 685 shares during the quarter. Venturi Wealth Management LLC’s holdings in Caterpillar were worth $1,456,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Valeo Financial Advisors LLC increased its stake in Caterpillar by 36,842.1% during the second quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock worth $2,833,836,000 after acquiring an additional 7,279,991 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Caterpillar by 6.7% in the first 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 buying an additional 264,054 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Caterpillar by 0.5% in the first 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 buying an additional 15,347 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Caterpillar by 9.1% in the first 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 buying an additional 268,300 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Caterpillar by 5.0% in the first quarter. Invesco Ltd. now owns 3,141,936 shares of the industrial products company’s stock valued at $1,036,211,000 after buying an additional 150,533 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Up 3.2%

Caterpillar stock opened at $502.08 on Thursday. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $509.48. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. The company has a market capitalization of $235.21 billion, a P/E ratio of 25.54, a PEG ratio of 2.96 and a beta of 1.46. The stock has a 50-day simple moving average of $440.73 and a 200-day simple moving average of $381.76.

Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing the consensus estimate of $4.88 by ($0.16). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. 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 posted $5.99 earnings per share. The firm’s revenue for the quarter was down .7% on a year-over-year basis. Equities research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be given 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 payout ratio is 30.72%.

Insider Activity at Caterpillar

In related news, insider Jason Kaiser sold 2,161 shares of the business’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $417.70, for a total value of $902,649.70. Following the transaction, the insider owned 8,632 shares in the company, valued at $3,605,586.40. The trade was a 20.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the business’s stock in a transaction that occurred 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 transaction, the chairman owned 482,505 shares in the company, valued at $199,211,839.35. The trade was a 3.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,819 shares of company stock worth $16,885,492 in the last quarter. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CAT. Robert W. Baird lifted their price objective on Caterpillar from $495.00 to $540.00 and gave the company an “outperform” rating in a research note on Wednesday, September 17th. Citigroup lifted their price objective on Caterpillar from $540.00 to $570.00 and gave the company a “buy” rating in a research note on Tuesday. Jefferies Financial Group reaffirmed a “buy” rating and issued a $500.00 price objective on shares of Caterpillar in a research note on Friday, August 29th. JPMorgan Chase & Co. lifted their target price on Caterpillar from $475.00 to $520.00 and gave the company an “overweight” rating in a report on Wednesday, August 6th. Finally, Truist Financial lifted their target price on Caterpillar from $507.00 to $582.00 and gave the company a “buy” rating in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $473.53.

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.