Stonebrook Private Inc. Trims Position in Caterpillar Inc. (NYSE:CAT)

Stonebrook Private Inc. trimmed its position in Caterpillar Inc. (NYSE:CAT) by 36.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,187 shares of the industrial products company’s stock after selling 680 shares during the period. Stonebrook Private Inc.’s holdings in Caterpillar were worth $395,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CAT. Acadian Asset Management LLC raised its position in Caterpillar by 17.2% in the first quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock worth $3,308,000 after acquiring an additional 1,327 shares during the period. Diversify Advisory Services LLC purchased a new position in Caterpillar during the first quarter valued at $926,000. Natixis Advisors LLC grew its holdings in Caterpillar by 3.5% during the second quarter. Natixis Advisors LLC now owns 278,259 shares of the industrial products company’s stock valued at $92,688,000 after purchasing an additional 9,321 shares during the period. Aigen Investment Management LP purchased a new stake in Caterpillar in the fourth quarter worth about $222,000. Finally, Olistico Wealth LLC raised its stake in shares of Caterpillar by 3.4% in the fourth quarter. Olistico Wealth LLC now owns 2,130 shares of the industrial products company’s stock worth $630,000 after buying an additional 70 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Activity

In other Caterpillar news, insider Cheryl H. Johnson sold 1,508 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $350.00, for a total transaction of $527,800.00. Following the completion of the transaction, the insider now owns 18,515 shares in the company, valued at $6,480,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Cheryl H. Johnson sold 1,508 shares of Caterpillar stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $350.00, for a total transaction of $527,800.00. Following the completion of the sale, the insider now directly owns 18,515 shares in the company, valued at $6,480,250. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gerald Johnson purchased 100 shares of Caterpillar stock in a transaction that occurred on Wednesday, September 4th. The stock was bought at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the purchase, the director now directly owns 2,842 shares in the company, valued at $962,272.78. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 7,668 shares of company stock valued at $2,665,760. 0.33% of the stock is currently owned by company insiders.

Caterpillar Price Performance

Shares of Caterpillar stock traded down $4.20 during trading hours on Friday, reaching $329.36. The company’s stock had a trading volume of 2,676,623 shares, compared to its average volume of 2,680,938. The firm has a 50 day moving average price of $339.86 and a 200-day moving average price of $343.24. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78. The stock has a market cap of $161.07 billion, a P/E ratio of 14.87, a P/E/G ratio of 1.66 and a beta of 1.12. Caterpillar Inc. has a one year low of $223.76 and a one year high of $382.01.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, topping the consensus estimate of $5.53 by $0.46. The company had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm posted $5.55 earnings per share. On average, analysts predict that Caterpillar Inc. will post 21.87 EPS for the current year.

Caterpillar announced that its Board of Directors has authorized a stock buyback program on Wednesday, June 12th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the industrial products company to purchase up to 12.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd were paid a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 1.71%. This is a positive change from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Monday, July 22nd. Caterpillar’s payout ratio is presently 25.46%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CAT shares. Truist Financial reiterated a “buy” rating and set a $399.00 price objective (up from $390.00) on shares of Caterpillar in a research note on Wednesday, August 7th. StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Thursday. Bank of America decreased their price objective on shares of Caterpillar from $385.00 to $376.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Barclays upped their target price on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Finally, Citigroup initiated coverage on Caterpillar in a report on Wednesday, June 26th. They set a “buy” rating and a $380.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Caterpillar has an average rating of “Hold” and an average target price of $336.31.

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.