Caterpillar Inc. $CAT Shares Bought by Sienna Gestion

Sienna Gestion grew its holdings in Caterpillar Inc. (NYSE:CAT) by 10.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,638 shares of the industrial products company’s stock after purchasing an additional 3,000 shares during the quarter. Sienna Gestion’s holdings in Caterpillar were worth $11,568,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in CAT. Mid American Wealth Advisory Group Inc. acquired a new position in Caterpillar in the second quarter valued at approximately $28,000. Compass Financial Services Inc lifted its holdings in Caterpillar by 49.2% in the first 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 last quarter. Family Legacy Financial Solutions LLC acquired a new position in Caterpillar in the second quarter valued at approximately $32,000. Harbor Asset Planning Inc. acquired a new position in Caterpillar in the second quarter valued at approximately $34,000. Finally, Total Wealth Planning & Management Inc. acquired a new position in Caterpillar in the second quarter valued at approximately $38,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Up 4.0%

Caterpillar stock opened at $569.33 on Thursday. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $596.21. The stock’s fifty day simple moving average is $486.22 and its 200-day simple moving average is $414.84. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $266.72 billion, a P/E ratio of 29.23, a P/E/G ratio of 3.33 and a beta of 1.51.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share for the quarter, topping analysts’ consensus estimates of $4.52 by $0.43. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The business had revenue of $17.64 billion for the quarter, compared to analyst estimates of $16.72 billion. During the same quarter in the prior year, the company earned $5.17 earnings per share. The company’s revenue was up 9.5% on a year-over-year basis. As a group, equities analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be given a dividend of $1.51 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.1%. Caterpillar’s dividend payout ratio is currently 31.01%.

Wall Street Analysts Forecast Growth

CAT has been the topic of a number of recent analyst reports. Barclays upped their price objective on Caterpillar from $485.00 to $555.00 and gave the company an “equal weight” rating in a report on Thursday, October 30th. Morgan Stanley boosted their target price on Caterpillar from $350.00 to $380.00 and gave the company an “underweight” rating in a research report on Thursday, October 30th. DA Davidson boosted their target price on Caterpillar from $408.00 to $569.00 and gave the company a “neutral” rating in a research report on Monday. Royal Bank Of Canada assumed coverage on Caterpillar in a research report on Wednesday, October 22nd. They issued a “sector perform” rating and a $560.00 target price on the stock. Finally, HSBC raised Caterpillar from a “hold” rating to a “buy” rating and set a $660.00 target price on the stock in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $588.94.

Insider Transactions at Caterpillar

In related news, insider Jason Kaiser sold 2,161 shares of the business’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the transaction, the insider owned 8,632 shares in the company, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Donald J. Umpleby III sold 17,166 shares of the business’s stock in a transaction on Friday, October 10th. The stock was sold at an average price of $505.29, for a total transaction of $8,673,808.14. Following the transaction, the chairman owned 448,173 shares of the company’s stock, valued at approximately $226,457,335.17. The trade was a 3.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 55,985 shares of company stock valued at $25,559,300. 0.33% of the stock is currently owned by company insiders.

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.