Caterpillar Inc. $CAT Shares Sold by ZEGA Investments LLC

ZEGA Investments LLC cut its stake in shares of Caterpillar Inc. (NYSE:CAT) by 19.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,676 shares of the industrial products company’s stock after selling 411 shares during the quarter. ZEGA Investments LLC’s holdings in Caterpillar were worth $651,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Pacific Point Advisors LLC purchased a new position in shares of Caterpillar in the fourth quarter valued at approximately $579,000. Brighton Jones LLC raised its position in Caterpillar by 51.5% in the fourth quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock valued at $2,688,000 after purchasing an additional 2,519 shares during the period. Cerity Partners LLC boosted its holdings in Caterpillar by 28.1% during the 1st quarter. Cerity Partners LLC now owns 294,869 shares of the industrial products company’s stock valued at $97,247,000 after acquiring an additional 64,654 shares during the period. CFC Planning Co LLC grew its holdings in shares of Caterpillar by 7.4% in the first quarter. CFC Planning Co LLC now owns 5,198 shares of the industrial products company’s stock valued at $1,714,000 after purchasing an additional 357 shares in the last quarter. Finally, Burford Brothers Inc. grew its stake in shares of Caterpillar by 5.0% in the first quarter. Burford Brothers Inc. now owns 3,898 shares of the industrial products company’s stock worth $1,286,000 after acquiring an additional 185 shares in the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CAT has been the subject of several recent research reports. Truist Financial reiterated a “buy” rating and issued a $729.00 price objective (up previously from $582.00) on shares of Caterpillar in a research note on Thursday, October 30th. Citigroup boosted their target price on Caterpillar from $570.00 to $670.00 and gave the company a “buy” rating in a report on Friday, October 31st. Barclays raised their price objective on shares of Caterpillar from $485.00 to $555.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 30th. UBS Group increased their price objective on Caterpillar from $506.00 to $581.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Royal Bank Of Canada began coverage on shares of Caterpillar in a research note on Wednesday, October 22nd. They set a “sector perform” rating and a $560.00 price target on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $588.94.

Insider Activity at Caterpillar

In related news, Director Susan C. Schwab sold 2,324 shares of the company’s stock in a transaction that occurred on 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 approximately $2,835,970. This represents a 25.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Lange Bob De sold 14,638 shares of Caterpillar stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $562.36, for a total transaction of $8,231,825.68. Following the completion of the transaction, the insider directly owned 80,209 shares of the company’s stock, valued at approximately $45,106,333.24. This represents a 15.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 71,823 shares of company stock worth $34,477,790 over the last ninety days. Company insiders own 0.33% of the company’s stock.

Caterpillar Stock Down 1.2%

Shares of CAT opened at $562.82 on Friday. The company’s fifty day moving average is $491.77 and its two-hundred day moving average is $417.84. The firm has a market cap of $263.39 billion, a PE ratio of 28.89, a price-to-earnings-growth ratio of 3.33 and a beta of 1.51. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $596.21. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 1.34.

Caterpillar (NYSE:CAT) last posted 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. The business had revenue of $17.64 billion for the quarter, compared to analysts’ expectations of $16.72 billion. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the previous year, the company posted $5.17 earnings per share. Analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The firm also recently announced 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. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s payout ratio is presently 31.01%.

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.