1ST Source Bank Grows Stock Position in Caterpillar Inc. $CAT

1ST Source Bank grew its position in shares of Caterpillar Inc. (NYSE:CAT) by 1.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,434 shares of the industrial products company’s stock after buying an additional 131 shares during the quarter. 1ST Source Bank’s holdings in Caterpillar were worth $3,662,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Mid American Wealth Advisory Group Inc. acquired a new stake in Caterpillar in the second quarter valued at $28,000. Family Legacy Financial Solutions LLC purchased a new position in shares of Caterpillar in the 2nd quarter valued at about $32,000. Harbor Asset Planning Inc. acquired a new stake in shares of Caterpillar in the second quarter valued at about $34,000. Compass Financial Services Inc boosted its holdings in Caterpillar by 49.2% during the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after buying an additional 31 shares in the last quarter. Finally, Maseco LLP acquired a new position in Caterpillar during the second quarter worth about $45,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

NYSE:CAT opened at $562.82 on Friday. The firm’s fifty day simple moving average is $491.77 and its 200 day simple moving average is $418.73. 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 Inc. has a twelve month low of $267.30 and a twelve month high of $596.21. The firm has a market capitalization of $263.39 billion, a price-to-earnings ratio of 28.89, a PEG ratio of 3.33 and a beta of 1.51.

Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $16.72 billion. During the same period in the prior year, the firm earned $5.17 earnings per share. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. As a group, equities research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Monday, October 20th. This represents a $6.04 annualized dividend and a dividend yield of 1.1%. Caterpillar’s dividend payout ratio (DPR) is 31.01%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CAT shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Caterpillar in a research report on Tuesday, October 14th. JPMorgan Chase & Co. increased their price objective on shares of Caterpillar from $650.00 to $730.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. UBS Group raised their target price on shares of Caterpillar from $506.00 to $581.00 and gave the company a “neutral” rating in a report on Tuesday. Evercore ISI raised shares of Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price target on the stock in a report on Tuesday, August 19th. Finally, Oppenheimer raised their price objective on shares of Caterpillar from $513.00 to $645.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $596.59.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Chairman Donald J. Umpleby III sold 17,168 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the sale, the chairman directly owned 482,505 shares in the company, valued at approximately $199,211,839.35. The trade was a 3.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO William E. Schaupp sold 1,200 shares of the business’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $572.22, for a total value of $686,664.00. Following the completion of the sale, the chief accounting officer directly owned 1,323 shares in the company, valued at $757,047.06. This represents a 47.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 71,823 shares of company stock worth $34,477,790. 0.33% of the stock is owned by company insiders.

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.