Signaturefd LLC Sells 352 Shares of Caterpillar Inc. (NYSE:CAT)

Signaturefd LLC decreased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 2.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 12,206 shares of the industrial products company’s stock after selling 352 shares during the period. Signaturefd LLC’s holdings in Caterpillar were worth $4,066,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Axxcess Wealth Management LLC boosted its stake in Caterpillar by 20.0% during the 4th quarter. Axxcess Wealth Management LLC now owns 21,343 shares of the industrial products company’s stock worth $6,310,000 after acquiring an additional 3,558 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Caterpillar by 17.2% during the 1st quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock worth $3,308,000 after buying an additional 1,327 shares during the period. Catalyst Financial Partners LLC boosted its holdings in shares of Caterpillar by 1.5% in the fourth quarter. Catalyst Financial Partners LLC now owns 4,295 shares of the industrial products company’s stock valued at $1,270,000 after buying an additional 63 shares during the period. Diversify Advisory Services LLC acquired a new stake in shares of Caterpillar during the first quarter worth $926,000. Finally, Aigen Investment Management LP acquired a new position in Caterpillar in the 4th quarter worth $222,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Performance

Shares of NYSE:CAT traded up $4.43 on Friday, hitting $356.07. The company had a trading volume of 2,973,446 shares, compared to its average volume of 2,679,620. The stock has a market cap of $174.14 billion, a price-to-earnings ratio of 16.08, a P/E/G ratio of 1.72 and a beta of 1.12. The stock has a 50 day moving average price of $338.84 and a 200 day moving average price of $342.55. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $382.01. The company has a current ratio of 1.35, a quick ratio of 0.83 and a debt-to-equity ratio of 1.41.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, beating the consensus estimate of $5.53 by $0.46. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. The firm had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $16.91 billion. During the same period in the prior year, the firm earned $5.55 EPS. The business’s revenue was down 3.6% on a year-over-year basis. Analysts expect that Caterpillar Inc. will post 21.57 EPS for the current year.

Caterpillar announced that its Board of Directors has initiated a share repurchase program on Wednesday, June 12th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the industrial products company to purchase up to 12.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Caterpillar Increases Dividend

The company 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. The ex-dividend date of this dividend was Monday, July 22nd. This is an increase from Caterpillar’s previous quarterly dividend of $1.30. This represents a $5.64 annualized dividend and a yield of 1.58%. Caterpillar’s payout ratio is 25.46%.

Insiders Place Their Bets

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

Analyst Ratings Changes

A number of analysts have recently commented on CAT shares. Barclays boosted their price target on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. Truist Financial reissued a “buy” rating and issued a $399.00 price objective (up previously from $390.00) on shares of Caterpillar in a research report on Wednesday, August 7th. Evercore ISI lowered their price target on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Citigroup began coverage on shares of Caterpillar in a research note on Wednesday, June 26th. They set a “buy” rating and a $380.00 price objective for the company. Finally, StockNews.com raised Caterpillar from a “hold” rating to a “buy” rating in a research report on Saturday, August 10th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $336.31.

About Caterpillar

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.