Ifrah Financial Services Inc. Sells 64 Shares of Caterpillar Inc. $CAT

Ifrah Financial Services Inc. cut its position in shares of Caterpillar Inc. (NYSE:CAT) by 9.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 616 shares of the industrial products company’s stock after selling 64 shares during the quarter. Ifrah Financial Services Inc.’s holdings in Caterpillar were worth $239,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Trivium Point Advisory LLC grew its holdings in shares of Caterpillar by 132.9% during the second quarter. Trivium Point Advisory LLC now owns 1,926 shares of the industrial products company’s stock worth $748,000 after buying an additional 1,099 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Caterpillar by 9.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company’s stock valued at $26,037,000 after purchasing an additional 7,125 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in Caterpillar by 11.2% in the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,315 shares of the industrial products company’s stock valued at $5,557,000 after purchasing an additional 1,440 shares in the last quarter. Ransom Advisory Ltd bought a new position in Caterpillar in the first quarter valued at approximately $427,000. Finally, Charles Schwab Investment Management Inc. grew its stake in 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 purchasing an additional 15,347 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the sale, the insider directly owned 8,632 shares of the company’s stock, valued at approximately $3,605,586.40. This trade represents a 20.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Susan C. Schwab sold 2,324 shares of Caterpillar stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the sale, the director directly owned 6,917 shares of the company’s stock, valued at approximately $2,835,970. The trade was a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,985 shares of company stock valued at $25,559,300. Insiders own 0.33% of the company’s stock.

Caterpillar Stock Performance

CAT opened at $527.41 on Friday. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $544.99. The stock has a market cap of $247.08 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 3.09 and a beta of 1.46. The business has a 50 day moving average of $453.38 and a 200-day moving average of $390.54. 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 (NYSE:CAT) last released its quarterly 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). The firm had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the previous year, the business posted $5.99 earnings per share. On average, equities research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s dividend payout ratio (DPR) is presently 30.72%.

Analyst Ratings Changes

CAT has been the subject of a number of analyst reports. Truist Financial raised their price target on Caterpillar from $507.00 to $582.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Bank of America raised their price target on Caterpillar from $517.00 to $594.00 and gave the company a “buy” rating in a research note on Wednesday. Jefferies Financial Group raised their price target on Caterpillar from $500.00 to $570.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. UBS Group raised their price target on Caterpillar from $450.00 to $506.00 and gave the company a “neutral” rating in a research note on Monday, October 13th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Caterpillar in a research report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Caterpillar presently has a consensus rating of “Moderate Buy” and a consensus price target of $510.60.

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.