International Assets Investment Management LLC Has $2.53 Million Stock Position in Caterpillar Inc. $CAT

International Assets Investment Management LLC lifted its position in shares of Caterpillar Inc. (NYSE:CAT) by 2.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,515 shares of the industrial products company’s stock after buying an additional 130 shares during the quarter. International Assets Investment Management LLC’s holdings in Caterpillar were worth $2,529,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Family Legacy Financial Solutions LLC acquired a new stake in shares of Caterpillar during the second quarter worth $32,000. Harbor Asset Planning Inc. acquired a new stake in shares of Caterpillar during the second quarter worth $34,000. Compass Financial Services Inc lifted its holdings in shares of Caterpillar by 49.2% during the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after buying an additional 31 shares in the last quarter. Redmont Wealth Advisors LLC acquired a new stake in shares of Caterpillar during the first quarter worth $33,000. Finally, Maseco LLP acquired a new position in Caterpillar in the second quarter valued at about $45,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Activity

In other news, insider Jason Kaiser sold 2,161 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of the transaction, the insider owned 8,632 shares of the company’s stock, valued at $3,605,586.40. This represents a 20.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total value of $7,088,152.16. Following the completion of the transaction, the chairman directly owned 482,505 shares of the company’s stock, valued at $199,211,839.35. This represents a 3.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,985 shares of company stock valued at $25,559,300 over the last quarter. 0.33% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Oppenheimer boosted their price target on Caterpillar from $480.00 to $513.00 and gave the company an “outperform” rating in a research note on Monday, September 29th. Truist Financial boosted 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. Evercore ISI raised Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price target for the company in a research note on Tuesday, August 19th. Jefferies Financial Group boosted 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. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Caterpillar in a research note on Tuesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Caterpillar currently has an average rating of “Moderate Buy” and an average price target of $510.60.

Caterpillar Stock Down 2.5%

Shares of NYSE CAT opened at $527.41 on Friday. 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 company has a market cap of $247.08 billion, a price-to-earnings ratio of 26.83, 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 $544.99. The stock has a 50-day moving average price of $453.38 and a two-hundred day moving average price of $390.93.

Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing the consensus estimate of $4.88 by ($0.16). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The business had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. During the same period in the previous year, the firm posted $5.99 EPS. The firm’s revenue was down .7% compared to the same quarter last year. As a group, analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be paid a $1.51 dividend. The ex-dividend date of this dividend is Monday, October 20th. This represents a $6.04 annualized dividend and a dividend yield of 1.1%. Caterpillar’s dividend payout ratio is currently 30.72%.

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.