Stonehage Fleming Financial Services Holdings Ltd Purchases New Position in Caterpillar Inc. $CAT

Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in shares of Caterpillar Inc. (NYSE:CAT) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,626 shares of the industrial products company’s stock, valued at approximately $3,861,000.

Other large investors have also recently made changes to their positions in the company. Pacific Point Advisors LLC purchased a new stake in Caterpillar in the fourth quarter worth $579,000. Brighton Jones LLC increased its position in Caterpillar by 51.5% during the 4th 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. United Bank raised its holdings in Caterpillar by 108.5% in the 2nd quarter. United Bank now owns 4,083 shares of the industrial products company’s stock worth $1,585,000 after purchasing an additional 2,125 shares in the last quarter. Schnieders Capital Management LLC. lifted its position in shares of Caterpillar by 3.9% in the 2nd quarter. Schnieders Capital Management LLC. now owns 9,147 shares of the industrial products company’s stock worth $3,551,000 after purchasing an additional 347 shares during the period. Finally, Alliancebernstein L.P. boosted its stake in shares of Caterpillar by 6.5% during the 2nd quarter. Alliancebernstein L.P. now owns 572,165 shares of the industrial products company’s stock valued at $222,120,000 after purchasing an additional 34,846 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CAT shares. Citigroup increased their price target on shares of Caterpillar from $1,020.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Erste Group Bank downgraded Caterpillar from a “buy” rating to a “hold” rating in a report on Monday, July 27th. Truist Financial set a $980.00 target price on Caterpillar in a research note on Wednesday, August 5th. DA Davidson upped their price target on Caterpillar from $845.00 to $882.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. Finally, Robert W. Baird set a $970.00 price objective on Caterpillar in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, Caterpillar has a consensus rating of “Moderate Buy” and an average target price of $995.52.

Caterpillar Price Performance

CAT stock opened at $813.51 on Tuesday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.85 and a current ratio of 1.37. The firm has a 50 day moving average price of $868.12 and a 200-day moving average price of $839.26. Caterpillar Inc. has a 52-week low of $416.44 and a 52-week high of $1,073.46. The firm has a market capitalization of $373.95 billion, a price-to-earnings ratio of 35.00, a PEG ratio of 1.41 and a beta of 1.60.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, August 4th. The industrial products company reported $8.17 earnings per share for the quarter, beating analysts’ consensus estimates of $6.22 by $1.95. The company had revenue of $20.54 billion during the quarter, compared to analyst estimates of $19.34 billion. Caterpillar had a return on equity of 55.53% and a net margin of 14.51%.The firm’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same quarter last year, the company earned $4.72 EPS. Equities research analysts forecast that Caterpillar Inc. will post 27.34 EPS for the current fiscal year.

Caterpillar Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Monday, July 20th were given a $1.63 dividend. The ex-dividend date of this dividend was Monday, July 20th. This represents a $6.52 annualized dividend and a dividend yield of 0.8%. This is a boost from Caterpillar’s previous quarterly dividend of $1.51. Caterpillar’s payout ratio is presently 28.06%.

Insider Transactions at Caterpillar

In related news, CEO Joseph E. Creed sold 32,401 shares of the company’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $808.98, for a total value of $26,211,760.98. Following the transaction, the chief executive officer owned 34,555 shares in the company, valued at $27,954,303.90. The trade was a 48.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.33% of the stock is currently owned by insiders.

About Caterpillar

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off?highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.