Nations Financial Group Inc. IA ADV Has $1.89 Million Stake in Caterpillar Inc. (NYSE:CAT)

Nations Financial Group Inc. IA ADV grew its position in Caterpillar Inc. (NYSE:CAT) by 0.7% in the second quarter, HoldingsChannel.com reports. The fund owned 5,681 shares of the industrial products company’s stock after buying an additional 42 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in Caterpillar were worth $1,892,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. F M Investments LLC acquired a new stake in shares of Caterpillar during the 2nd quarter worth about $10,955,000. FAS Wealth Partners Inc. boosted its holdings in shares of Caterpillar by 6.6% during the second quarter. FAS Wealth Partners Inc. now owns 13,123 shares of the industrial products company’s stock worth $4,371,000 after acquiring an additional 809 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Caterpillar by 7.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 267,304 shares of the industrial products company’s stock worth $89,039,000 after purchasing an additional 18,399 shares during the period. Ameritas Advisory Services LLC boosted its stake in Caterpillar by 1.8% in the 2nd quarter. Ameritas Advisory Services LLC now owns 18,339 shares of the industrial products company’s stock valued at $6,109,000 after purchasing an additional 319 shares during the period. Finally, Arkadios Wealth Advisors grew its holdings in Caterpillar by 15.0% in the 2nd quarter. Arkadios Wealth Advisors now owns 6,370 shares of the industrial products company’s stock valued at $2,122,000 after buying an additional 831 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Cheryl H. Johnson sold 1,508 shares of the company’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 value of $527,800.00. Following the transaction, the insider now owns 18,515 shares in the company, valued at $6,480,250. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Cheryl H. Johnson sold 2,975 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the sale, the insider now directly owns 15,615 shares in the company, valued at approximately $5,347,825.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Cheryl H. Johnson sold 1,508 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $350.00, for a total value of $527,800.00. Following the completion of the transaction, the insider now owns 18,515 shares of the company’s stock, valued at approximately $6,480,250. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Caterpillar Stock Up 1.3 %

NYSE CAT traded up $4.43 on Friday, reaching $356.07. The company had a trading volume of 2,973,446 shares, compared to its average volume of 2,679,620. Caterpillar Inc. has a 52-week low of $223.76 and a 52-week high of $382.01. The company has a quick ratio of 0.83, a current ratio of 1.35 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $174.14 billion, a P/E ratio of 16.08, a P/E/G ratio of 1.72 and a beta of 1.12. The company’s fifty day moving average is $338.84 and its 200 day moving average is $342.55.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results 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. The business had revenue of $16.69 billion for the quarter, compared to analyst estimates of $16.91 billion. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. Caterpillar’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period last year, the company posted $5.55 earnings per share. Sell-side analysts anticipate that Caterpillar Inc. will post 21.57 earnings per share for the current fiscal year.

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

Caterpillar Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd were paid a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.58%. This is a boost from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date was Monday, July 22nd. Caterpillar’s payout ratio is presently 25.46%.

Analysts Set New Price Targets

Several brokerages have weighed in on CAT. StockNews.com upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Saturday, August 10th. UBS Group boosted their price target on Caterpillar from $270.00 to $285.00 and gave the company a “sell” 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 on the stock. Truist Financial reiterated a “buy” rating and set a $399.00 target price (up from $390.00) on shares of Caterpillar in a research report on Wednesday, August 7th. Finally, Evercore ISI decreased their price target on Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. 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 company. Based on data from MarketBeat.com, the company 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.