SouthState Corp Has $1.58 Million Stake in Caterpillar Inc. $CAT

SouthState Corp boosted its holdings in Caterpillar Inc. (NYSE:CAT) by 4.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,062 shares of the industrial products company’s stock after purchasing an additional 165 shares during the period. SouthState Corp’s holdings in Caterpillar were worth $1,577,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of CAT. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Caterpillar in the second quarter valued at about $28,000. Compass Financial Services Inc grew its stake 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 purchasing an additional 31 shares in the last quarter. Family Legacy Financial Solutions LLC acquired a new position in shares of Caterpillar during the 2nd quarter worth approximately $32,000. Harbor Asset Planning Inc. bought a new stake in shares of Caterpillar during the 2nd quarter worth approximately $34,000. Finally, Total Wealth Planning & Management Inc. acquired a new stake in shares of Caterpillar in the 2nd quarter valued at approximately $38,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO William E. Schaupp sold 1,200 shares of the company’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $572.22, for a total transaction of $686,664.00. Following the completion of the sale, the chief accounting officer directly owned 1,323 shares in the company, valued at approximately $757,047.06. This represents a 47.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of the company’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 directly owned 6,917 shares of the company’s stock, valued at $2,835,970. This represents a 25.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 57,185 shares of company stock valued at $26,245,964 in the last quarter. Company insiders own 0.33% of the company’s stock.

Caterpillar Stock Performance

NYSE:CAT opened at $569.51 on Friday. The stock has a 50 day simple moving average of $488.91 and a 200 day simple moving average of $415.91. The stock has a market cap of $266.80 billion, a P/E ratio of 29.24, a PEG ratio of 3.33 and a beta of 1.51. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $596.21. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 1.34.

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 the consensus estimate of $4.52 by $0.43. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The firm had revenue of $17.64 billion for the quarter, compared to analysts’ expectations of $16.72 billion. During the same quarter last year, the business earned $5.17 EPS. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. Research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be given 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%.

Analyst Ratings Changes

CAT has been the topic of several analyst reports. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Caterpillar in a research report on Wednesday. Morgan Stanley upped their target price on shares of Caterpillar from $350.00 to $380.00 and gave the company an “underweight” rating in a report on Thursday, October 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Caterpillar in a report on Tuesday, October 14th. Erste Group Bank upgraded Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Finally, HSBC raised Caterpillar from a “hold” rating to a “buy” rating and raised their price objective for the company from $405.00 to $660.00 in a research report on Wednesday. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Caterpillar presently has a consensus rating of “Moderate Buy” and a consensus price target of $588.94.

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.