556 Shares in Caterpillar Inc. $CAT Acquired by Phillips Financial Management LLC

Phillips Financial Management LLC bought a new position in shares of Caterpillar Inc. (NYSE:CAT) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 556 shares of the industrial products company’s stock, valued at approximately $216,000.

A number of other hedge funds also recently made changes to their positions in the stock. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Caterpillar in the 2nd quarter valued at $28,000. Compass Financial Services Inc raised its stake in shares of Caterpillar by 49.2% in the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 31 shares during the period. Family Legacy Financial Solutions LLC purchased a new position in shares of Caterpillar in the 2nd quarter valued at $32,000. Redmont Wealth Advisors LLC purchased a new position in shares of Caterpillar in the 1st quarter valued at $33,000. Finally, Harbor Asset Planning Inc. purchased a new position in shares of Caterpillar in the 2nd quarter valued at $34,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the business’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the sale, the insider directly owned 8,632 shares in the company, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Susan C. Schwab sold 2,324 shares of the business’s stock in a transaction dated Friday, August 15th. The stock was 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 in the company, valued at $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,985 shares of company stock valued at $25,559,300 in the last ninety days. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CAT shares. Citigroup raised their target price on shares of Caterpillar from $540.00 to $570.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Melius Research raised shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 target price for the company in a research report on Wednesday, July 9th. Evercore ISI raised shares of Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 target price for the company in a research report on Tuesday, August 19th. UBS Group boosted their target price on shares of Caterpillar from $450.00 to $506.00 and gave the stock a “neutral” rating in a research report on Monday, October 13th. Finally, Truist Financial boosted their target price on shares of Caterpillar from $507.00 to $582.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $515.40.

Caterpillar Trading Down 1.2%

NYSE CAT opened at $524.95 on Wednesday. Caterpillar Inc. has a one year low of $267.30 and a one year high of $544.99. The company has a 50-day simple moving average of $458.10 and a 200-day simple moving average of $394.14. 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 firm has a market capitalization of $245.93 billion, a PE ratio of 26.70, a price-to-earnings-growth ratio of 3.02 and a beta of 1.46.

Caterpillar (NYSE:CAT) last posted its quarterly 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 net margin of 14.95% and a return on equity of 48.95%. The business had revenue of $16.57 billion during the quarter, compared to analyst estimates of $16.14 billion. During the same period last year, the firm posted $5.99 earnings per share. The company’s quarterly revenue was down .7% on a year-over-year basis. On average, equities analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

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

Caterpillar Company 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.