Worth Financial Advisory Group LLC Sells 98 Shares of Caterpillar Inc. (NYSE:CAT)

Worth Financial Advisory Group LLC lessened its stake in Caterpillar Inc. (NYSE:CAT) by 4.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,285 shares of the industrial products company’s stock after selling 98 shares during the period. Worth Financial Advisory Group LLC’s holdings in Caterpillar were worth $761,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Park Edge Advisors LLC boosted its stake in Caterpillar by 5.8% during the second quarter. Park Edge Advisors LLC now owns 2,019 shares of the industrial products company’s stock worth $673,000 after buying an additional 110 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its stake in shares of Caterpillar by 4.0% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,918 shares of the industrial products company’s stock valued at $639,000 after buying an additional 73 shares in the last quarter. Atomi Financial Group Inc. lifted its holdings in shares of Caterpillar by 8.6% during the 2nd quarter. Atomi Financial Group Inc. now owns 23,321 shares of the industrial products company’s stock worth $7,768,000 after acquiring an additional 1,839 shares during the period. Railway Pension Investments Ltd boosted its position in shares of Caterpillar by 4.4% during the 2nd quarter. Railway Pension Investments Ltd now owns 115,900 shares of the industrial products company’s stock valued at $38,606,000 after acquiring an additional 4,900 shares in the last quarter. Finally, Latitude Advisors LLC increased its stake in Caterpillar by 4.3% in the second quarter. Latitude Advisors LLC now owns 2,136 shares of the industrial products company’s stock valued at $712,000 after acquiring an additional 88 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Caterpillar

In related 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 of the company’s stock, valued at $6,480,250. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related 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 transaction, the insider now owns 18,515 shares of the company’s stock, valued at approximately $6,480,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Cheryl H. Johnson sold 2,975 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the completion of the sale, the insider now directly owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,991 shares of company stock valued at $2,059,398. 0.33% of the stock is currently owned by insiders.

Caterpillar Trading Up 0.0 %

CAT traded up $0.07 during mid-day trading on Tuesday, reaching $351.23. The stock had a trading volume of 1,210,755 shares, compared to its average volume of 2,691,051. The stock has a market capitalization of $171.77 billion, a P/E ratio of 15.86, a P/E/G ratio of 1.72 and a beta of 1.12. Caterpillar Inc. has a 52 week low of $223.76 and a 52 week high of $382.01. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.83 and a current ratio of 1.35. The firm’s fifty day simple moving average is $337.36 and its two-hundred day simple moving average is $342.20.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, topping analysts’ consensus estimates of $5.53 by $0.46. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. The firm had revenue of $16.69 billion during the quarter, compared to analyst estimates of $16.91 billion. During the same period last year, the company earned $5.55 earnings per share. The company’s revenue was down 3.6% on a year-over-year basis. On average, equities analysts predict that Caterpillar Inc. will post 21.57 EPS for the current year.

Caterpillar announced that its board has approved a share buyback program on Wednesday, June 12th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 12.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Caterpillar Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Monday, July 22nd were issued a $1.41 dividend. This is a positive change from Caterpillar’s previous quarterly dividend of $1.30. This represents a $5.64 annualized dividend and a yield of 1.61%. The ex-dividend date was Monday, July 22nd. Caterpillar’s dividend payout ratio is currently 25.46%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CAT shares. HSBC lifted their price objective on Caterpillar from $330.00 to $360.00 and gave the company a “hold” rating in a report on Tuesday, April 30th. Barclays boosted their price target on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Raymond James began coverage on Caterpillar in a research note on Friday, June 28th. They set a “market perform” rating for the company. Truist Financial restated a “buy” rating and issued a $399.00 target price (up previously from $390.00) on shares of Caterpillar in a research note on Wednesday, August 7th. Finally, Bank of America dropped their target price on shares of Caterpillar from $385.00 to $376.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price 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.