Mizuho Markets Americas LLC Sells 17,415 Shares of Caterpillar Inc. (NYSE:CAT)

Mizuho Markets Americas LLC decreased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 50.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,104 shares of the industrial products company’s stock after selling 17,415 shares during the period. Mizuho Markets Americas LLC’s holdings in Caterpillar were worth $5,697,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CAT. Private Trust Co. NA boosted its holdings in Caterpillar by 0.3% in the first quarter. Private Trust Co. NA now owns 10,695 shares of the industrial products company’s stock worth $3,919,000 after acquiring an additional 30 shares in the last quarter. Southland Equity Partners LLC boosted its stake in Caterpillar by 4.0% in the 1st quarter. Southland Equity Partners LLC now owns 784 shares of the industrial products company’s stock worth $287,000 after purchasing an additional 30 shares in the last quarter. Davis Investment Partners LLC increased its stake in Caterpillar by 2.1% during the 1st quarter. Davis Investment Partners LLC now owns 1,454 shares of the industrial products company’s stock valued at $541,000 after purchasing an additional 30 shares in the last quarter. Hilltop National Bank raised its holdings in Caterpillar by 1.2% in the second quarter. Hilltop National Bank now owns 2,636 shares of the industrial products company’s stock worth $878,000 after buying an additional 31 shares during the last quarter. Finally, Exchange Capital Management Inc. lifted its stake in shares of Caterpillar by 3.3% in the first quarter. Exchange Capital Management Inc. now owns 1,016 shares of the industrial products company’s stock worth $372,000 after buying an additional 32 shares in the last quarter. 70.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

CAT has been the subject of a number of research analyst reports. Bank of America reduced their target price on Caterpillar from $385.00 to $376.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Raymond James initiated coverage on Caterpillar in a report on Friday, June 28th. They issued a “market perform” rating for the company. Evercore ISI lowered their target price on Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. StockNews.com upgraded Caterpillar from a “hold” rating to a “buy” rating in a research note on Saturday, August 10th. Finally, Truist Financial reiterated a “buy” rating and issued a $399.00 price objective (up previously from $390.00) on shares of Caterpillar in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Caterpillar presently has an average rating of “Hold” and an average price target of $336.31.

Insider Buying and Selling

In other Caterpillar news, insider Cheryl H. Johnson sold 2,975 shares of the business’s stock in a transaction on 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 sale, the insider now owns 15,615 shares in the company, valued at approximately $5,347,825.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Caterpillar news, insider Cheryl H. Johnson sold 2,975 shares of the firm’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 transaction of $1,018,878.00. Following the completion of the transaction, the insider now owns 15,615 shares in the company, valued at approximately $5,347,825.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 sale, the insider now directly owns 18,515 shares in the company, valued at $6,480,250. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.

Caterpillar Price Performance

Caterpillar stock traded up $4.46 during mid-day trading on Friday, hitting $356.10. The stock had a trading volume of 2,974,052 shares, compared to its average volume of 2,369,276. Caterpillar Inc. has a one year low of $223.76 and a one year high of $382.01. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. The firm has a market capitalization of $172.67 billion, a P/E ratio of 16.08, a P/E/G ratio of 1.66 and a beta of 1.12. The firm’s 50 day moving average is $338.84 and its 200 day moving average is $342.75.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, topping analysts’ consensus estimates of $5.53 by $0.46. The firm had revenue of $16.69 billion during the quarter, compared to analyst estimates of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.55 earnings per share. On average, sell-side analysts forecast that Caterpillar Inc. will post 21.87 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd were given a dividend of $1.41 per share. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $5.64 annualized dividend and a dividend yield of 1.58%. This is a boost from Caterpillar’s previous quarterly dividend of $1.30. Caterpillar’s dividend payout ratio (DPR) is presently 25.46%.

Caterpillar declared that its Board of Directors has approved a share buyback plan on Wednesday, June 12th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the industrial products company to buy up to 12.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

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.