Rossby Financial LCC Has $1.34 Million Stock Holdings in Caterpillar Inc. $CAT

by · The Cerbat Gem

Rossby Financial LCC increased its position in shares of Caterpillar Inc. (NYSE:CAT – Free Report) by 1.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,441 shares of the industrial products company’s stock after acquiring an additional 44 shares during the period. Rossby Financial LCC’s holdings in Caterpillar were worth $1,336,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Caterpillar in the 2nd quarter valued at approximately $28,000. Family Legacy Financial Solutions LLC acquired a new stake in shares of Caterpillar in the 2nd quarter valued at approximately $32,000. Harbor Asset Planning Inc. acquired a new stake in shares of Caterpillar in the 2nd quarter valued at approximately $34,000. Compass Financial Services Inc boosted its stake in shares of Caterpillar by 49.2% in the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 31 shares in the last quarter. Finally, Redmont Wealth Advisors LLC acquired a new stake in Caterpillar during the 1st quarter worth approximately $33,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CAT shares. Royal Bank Of Canada started coverage on shares of Caterpillar in a research report on Wednesday, October 22nd. They set a “sector perform” rating and a $560.00 target price on the stock. Melius upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 target price on the stock in a research report on Wednesday, July 9th. Erste Group Bank upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Evercore ISI upgraded shares of Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 target price on the stock in a research report on Tuesday, August 19th. Finally, Bank of America boosted their price target on shares of Caterpillar from $517.00 to $594.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $518.19.

Read Our Latest Stock Analysis on CAT

Caterpillar Stock Performance

NYSE:CAT opened at $527.12 on Tuesday. The firm has a market capitalization of $246.95 billion, a P/E ratio of 26.81, a P/E/G ratio of 2.98 and a beta of 1.46. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $544.99. The company has a fifty day moving average of $466.75 and a 200-day moving average of $401.50. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50.

Caterpillar (NYSE:CAT – Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing the consensus estimate of $4.88 by ($0.16). The company had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. Caterpillar’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.99 EPS. As a group, sell-side analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s dividend payout ratio (DPR) is 30.72%.

Insider Activity

In other news, Chairman Donald J. Umpleby III sold 17,166 shares of the business’s stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $505.29, for a total transaction of $8,673,808.14. Following the completion of the sale, the chairman owned 448,173 shares in the company, valued at $226,457,335.17. The trade was a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jason Kaiser sold 2,161 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $417.70, for a total value of $902,649.70. Following the sale, the insider owned 8,632 shares of the company’s stock, valued at approximately $3,605,586.40. This represents a 20.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,985 shares of company stock worth $25,559,300 over the last quarter. 0.33% of the stock is currently owned by corporate insiders.

About Caterpillar

(Free Report)

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.

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