Daner Wealth Management LLC Invests $504,000 in Caterpillar Inc. $CAT

Daner Wealth Management LLC purchased a new stake in shares of Caterpillar Inc. (NYSE:CAT) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,221 shares of the industrial products company’s stock, valued at approximately $504,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Caterpillar in the 2nd quarter worth approximately $2,165,899,000. Groupe la Francaise raised its position in Caterpillar by 82.0% in the 2nd quarter. Groupe la Francaise now owns 27,246 shares of the industrial products company’s stock worth $10,820,000 after purchasing an additional 12,278 shares during the period. Trivium Point Advisory LLC boosted its position in Caterpillar by 132.9% during the second quarter. Trivium Point Advisory LLC now owns 1,926 shares of the industrial products company’s stock valued at $748,000 after buying an additional 1,099 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Caterpillar by 9.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company’s stock valued at $26,037,000 after buying an additional 7,125 shares during the last quarter. Finally, Palmer Knight Co purchased a new stake in Caterpillar during the 2nd quarter valued at about $5,884,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Price Performance

CAT stock opened at $603.27 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.38 and a quick ratio of 0.86. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $607.00. The firm has a 50-day moving average of $542.45 and a 200 day moving average of $452.46. The company has a market cap of $282.32 billion, a P/E ratio of 30.97, a PEG ratio of 2.84 and a beta of 1.57.

Caterpillar (NYSE:CAT) last posted its earnings results 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. The firm had revenue of $17.64 billion for the quarter, compared to the consensus estimate of $16.72 billion. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.17 EPS. On average, sell-side analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Monday, October 20th were given a dividend of $1.51 per share. The ex-dividend date of this dividend was Monday, October 20th. This represents a $6.04 annualized dividend and a yield of 1.0%. Caterpillar’s dividend payout ratio (DPR) is currently 31.01%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Morgan Stanley boosted their price objective on Caterpillar from $350.00 to $380.00 and gave the company an “underweight” rating in a research report on Thursday, October 30th. HSBC raised shares of Caterpillar from a “hold” rating to a “buy” rating and increased their price target for the company from $405.00 to $660.00 in a research report on Wednesday, November 5th. Truist Financial reaffirmed a “buy” rating and set a $729.00 price objective (up from $582.00) on shares of Caterpillar in a research note on Thursday, October 30th. DA Davidson boosted their price target on Caterpillar from $408.00 to $569.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. Finally, Bank of America upped their price target on Caterpillar from $594.00 to $650.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Caterpillar has a consensus rating of “Moderate Buy” and an average price target of $610.32.

Insider Activity

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $571.44, for a total transaction of $5,714,400.00. Following the completion of the transaction, the chief financial officer owned 55,460 shares of the company’s stock, valued at $31,692,062.40. This trade represents a 15.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David Maclennan bought 300 shares of the company’s stock in a transaction on Thursday, November 6th. The stock was bought at an average cost of $568.86 per share, for a total transaction of $170,658.00. Following the completion of the acquisition, the director directly owned 7,947 shares of the company’s stock, valued at approximately $4,520,730.42. This represents a 3.92% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have sold 79,061 shares of company stock worth $41,949,366. 0.33% of the stock is currently owned by corporate 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.