Caterpillar Inc. (NYSE:CAT) Shares Acquired by SkyOak Wealth LLC

by · The Markets Daily

SkyOak Wealth LLC increased its position in shares of Caterpillar Inc. (NYSE:CAT – Free Report) by 8.8% during the 1st quarter, HoldingsChannel.com reports. The firm owned 1,101 shares of the industrial products company’s stock after purchasing an additional 89 shares during the period. SkyOak Wealth LLC’s holdings in Caterpillar were worth $363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Caterpillar by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 46,809,540 shares of the industrial products company’s stock valued at $16,980,629,000 after buying an additional 284,366 shares during the period. Geode Capital Management LLC lifted its holdings in Caterpillar by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 10,449,770 shares of the industrial products company’s stock worth $3,790,841,000 after acquiring an additional 236,315 shares during the last quarter. Northern Trust Corp boosted its stake in Caterpillar by 11.8% in the fourth quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company’s stock valued at $2,483,937,000 after acquiring an additional 724,477 shares during the period. Norges Bank bought a new position in shares of Caterpillar during the fourth quarter valued at approximately $2,184,364,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Caterpillar by 8.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,940,391 shares of the industrial products company’s stock worth $1,429,416,000 after purchasing an additional 312,878 shares during the period. Institutional investors own 70.98% of the company’s stock.

Insiders Place Their Bets

In other Caterpillar news, Director David Maclennan purchased 375 shares of the company’s stock in a transaction on Wednesday, May 7th. The shares were purchased at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the transaction, the director owned 6,653 shares in the company, valued at $2,133,617.10. The trade was a 5.97% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is owned by corporate insiders.

Caterpillar Stock Down 0.6%

CAT stock opened at $405.73 on Friday. The firm’s 50-day moving average is $360.79 and its two-hundred day moving average is $348.19. The company has a market capitalization of $191.12 billion, a price-to-earnings ratio of 19.77, a price-to-earnings-growth ratio of 2.71 and a beta of 1.38. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $418.50. The company has a current ratio of 1.32, a quick ratio of 0.77 and a debt-to-equity ratio of 1.43.

Caterpillar (NYSE:CAT – Get Free Report) last announced its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing the consensus estimate of $4.35 by ($0.10). The firm had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.64 billion. Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. Caterpillar’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same period in the previous year, the firm earned $5.60 EPS. On average, analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be issued a $1.51 dividend. This is a positive change from Caterpillar’s previous quarterly dividend of $1.41. The ex-dividend date is Monday, July 21st. This represents a $6.04 annualized dividend and a dividend yield of 1.49%. Caterpillar’s dividend payout ratio is 27.49%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Evercore ISI reduced their price objective on Caterpillar from $375.00 to $373.00 and set an “in-line” rating for the company in a research report on Monday, May 19th. JPMorgan Chase & Co. raised their target price on Caterpillar from $395.00 to $475.00 and gave the company an “overweight” rating in a research note on Thursday. Truist Financial boosted their price target on shares of Caterpillar from $396.00 to $414.00 and gave the company a “buy” rating in a report on Monday, June 23rd. DA Davidson increased their price objective on shares of Caterpillar from $325.00 to $331.00 and gave the stock a “neutral” rating in a report on Monday, May 5th. Finally, UBS Group upgraded shares of Caterpillar from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $272.00 to $357.00 in a research report on Friday, May 16th. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $404.64.

Read Our Latest Research Report on CAT

Caterpillar Company Profile

(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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