Caterpillar Inc. $CAT Shares Sold by Cerity Partners LLC

Cerity Partners LLC lowered its position in shares of Caterpillar Inc. (NYSE:CAT) by 11.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 260,329 shares of the industrial products company’s stock after selling 34,540 shares during the period. Cerity Partners LLC owned approximately 0.06% of Caterpillar worth $101,094,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Fisher Asset Management LLC boosted its position in Caterpillar by 2.3% in the 2nd quarter. Fisher Asset Management LLC now owns 9,418,321 shares of the industrial products company’s stock valued at $3,656,286,000 after buying an additional 208,196 shares during the last quarter. Valeo Financial Advisors LLC increased its position in shares of Caterpillar by 36,842.1% during the second quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock worth $2,833,836,000 after acquiring an additional 7,279,991 shares during the last quarter. Norges Bank acquired a new position in shares of Caterpillar in the second quarter worth about $2,165,899,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Caterpillar by 6.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,204,445 shares of the industrial products company’s stock valued at $1,386,626,000 after purchasing an additional 264,054 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Caterpillar by 1.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,337,915 shares of the industrial products company’s stock valued at $1,295,432,000 after purchasing an additional 33,467 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Stock Up 0.7%

CAT stock opened at $603.27 on Monday. The firm has a market cap of $282.32 billion, a price-to-earnings ratio of 30.97, a PEG ratio of 2.84 and a beta of 1.57. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $607.00. The firm has a fifty day moving average price of $542.45 and a two-hundred day moving average price of $453.24. 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 (NYSE:CAT) last posted its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share (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 company had revenue of $17.64 billion for the quarter, compared to the consensus estimate of $16.72 billion. During the same period last year, the firm posted $5.17 EPS. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. Research analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, October 20th were issued 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 dividend yield of 1.0%. Caterpillar’s dividend payout ratio is 31.01%.

Insider Buying and Selling at Caterpillar

In related news, insider Jason Kaiser sold 10,707 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $563.60, for a total value of $6,034,465.20. Following the sale, the insider owned 8,649 shares of the company’s stock, valued at approximately $4,874,576.40. This trade represents a 55.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Anthony D. Fassino sold 8,184 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $570.18, for a total value of $4,666,353.12. Following the transaction, the insider owned 41,512 shares of the company’s stock, valued at $23,669,312.16. This represents a 16.47% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 79,061 shares of company stock worth $41,949,366. Corporate insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CAT. JPMorgan Chase & Co. upped their target price on Caterpillar from $650.00 to $730.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Wells Fargo & Company began coverage on shares of Caterpillar in a research note on Thursday, November 13th. They issued an “overweight” rating and a $675.00 price target for the company. Truist Financial reiterated 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. Erste Group Bank raised shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Finally, Jefferies Financial Group upped their target price on shares of Caterpillar from $570.00 to $700.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $610.32.

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.