HORAN Wealth LLC Purchases New Shares in Caterpillar Inc. $CAT

HORAN Wealth LLC purchased a new stake in shares of Caterpillar Inc. (NYSE:CAT) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 1,023 shares of the industrial products company’s stock, valued at approximately $397,000.

A number of other large investors have also added to or reduced their stakes in the company. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Caterpillar in the 2nd quarter valued at about $28,000. Compass Financial Services Inc boosted its holdings 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 buying an additional 31 shares during the period. Family Legacy Financial Solutions LLC acquired a new position in shares of Caterpillar in the 2nd quarter valued at about $32,000. Harbor Asset Planning Inc. acquired a new position in shares of Caterpillar in the 2nd quarter valued at about $34,000. Finally, Total Wealth Planning & Management Inc. acquired a new position in shares of Caterpillar in the 2nd quarter valued at about $38,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Susan C. Schwab sold 2,324 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The shares were 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 in the company, valued at $2,835,970. The trade was a 25.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jason Kaiser sold 2,161 shares of the business’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 transaction of $902,649.70. Following the completion of the sale, the insider owned 8,632 shares in the company, valued at $3,605,586.40. The trade was a 20.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 55,985 shares of company stock worth $25,559,300 in the last ninety days. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Stock Up 4.0%

NYSE CAT opened at $569.33 on Thursday. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.38 and a quick ratio of 0.81. The company’s 50 day simple moving average is $486.22 and its 200 day simple moving average is $414.84. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $596.21. The company has a market capitalization of $266.72 billion, a P/E ratio of 29.23, a PEG ratio of 3.33 and a beta of 1.51.

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

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Monday, October 20th. Caterpillar’s payout ratio is presently 31.01%.

Analysts Set New Price Targets

CAT has been the subject of several research reports. Citigroup lifted their price target on shares of Caterpillar from $570.00 to $670.00 and gave the company a “buy” rating in a report on Friday, October 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Caterpillar in a research report on Tuesday, October 14th. Morgan Stanley increased their target price on Caterpillar from $350.00 to $380.00 and gave the stock an “underweight” rating in a research report on Thursday, October 30th. DA Davidson lifted their price objective on shares of Caterpillar from $408.00 to $569.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Truist Financial reiterated a “buy” rating and issued a $729.00 price objective (up from $582.00) on shares of Caterpillar in a research report on Thursday, October 30th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $588.94.

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.