Impact Partnership Wealth LLC Boosts Stock Position in Caterpillar Inc. (NYSE:CAT)

Impact Partnership Wealth LLC increased its position in Caterpillar Inc. (NYSE:CAT) by 434.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 2,143 shares of the industrial products company’s stock after buying an additional 1,742 shares during the quarter. Impact Partnership Wealth LLC’s holdings in Caterpillar were worth $714,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Partnership Wealth Management LLC bought a new position in Caterpillar in the 4th quarter worth $26,000. Richardson Financial Services Inc. purchased a new stake in shares of Caterpillar during the fourth quarter worth about $27,000. Thompson Investment Management Inc. bought a new stake in Caterpillar during the 1st quarter valued at approximately $27,000. Bbjs Financial Advisors LLC purchased a new position in Caterpillar in the 2nd quarter worth approximately $28,000. Finally, Financial Connections Group Inc. purchased a new stake in Caterpillar during the 2nd quarter valued at approximately $28,000. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Trading Down 1.0 %

Caterpillar stock traded down $3.35 during midday trading on Thursday, reaching $333.40. The stock had a trading volume of 338,336 shares, compared to its average volume of 2,668,364. Caterpillar Inc. has a 52-week low of $223.76 and a 52-week high of $382.01. The company has a fifty day moving average of $339.82 and a 200 day moving average of $343.25. The firm has a market cap of $163.05 billion, a price-to-earnings ratio of 15.20, a price-to-earnings-growth ratio of 1.66 and a beta of 1.12. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39.

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

Caterpillar declared that its Board of Directors has initiated a share buyback plan on Wednesday, June 12th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to repurchase up to 12.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Caterpillar Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Monday, July 22nd were paid a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend was Monday, July 22nd. This is an increase from Caterpillar’s previous quarterly dividend of $1.30. Caterpillar’s dividend payout ratio (DPR) is currently 25.46%.

Insider Activity at Caterpillar

In other news, insider Cheryl H. Johnson sold 1,508 shares of Caterpillar stock in a transaction that occurred on Tuesday, July 16th. The shares were 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 owns 18,515 shares of the company’s stock, valued at $6,480,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Cheryl H. Johnson sold 1,508 shares of the firm’s 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 transaction, the insider now owns 18,515 shares in the company, valued at $6,480,250. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the sale, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The disclosure for this sale can be found here. Insiders sold 7,668 shares of company stock worth $2,665,760 in the last 90 days. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CAT shares. 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 research report on Wednesday, August 7th. Citigroup started coverage on Caterpillar in a report on Wednesday, June 26th. They issued a “buy” rating and a $380.00 target price on the stock. Truist Financial reissued a “buy” rating and set a $399.00 price target (up from $390.00) on shares of Caterpillar in a research note on Wednesday, August 7th. StockNews.com raised Caterpillar from a “hold” rating to a “buy” rating in a research note on Saturday, August 10th. Finally, Evercore ISI lowered their target price on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Caterpillar has a consensus rating of “Hold” and a consensus price target of $336.31.

Caterpillar Company 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.