Caterpillar Inc. (NYSE:CAT) Shares Purchased by Hudock Inc.

Hudock Inc. boosted its position in Caterpillar Inc. (NYSE:CAT) by 1.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 9,947 shares of the industrial products company’s stock after acquiring an additional 176 shares during the period. Caterpillar comprises approximately 0.6% of Hudock Inc.’s holdings, making the stock its 28th biggest holding. Hudock Inc.’s holdings in Caterpillar were worth $3,314,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kornitzer Capital Management Inc. KS increased its holdings in shares of Caterpillar by 28.3% during the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 1,322 shares of the industrial products company’s stock worth $440,000 after buying an additional 292 shares during the last quarter. First Business Financial Services Inc. acquired a new stake in Caterpillar in the 2nd quarter valued at $222,000. National Bank of Canada FI increased its holdings in Caterpillar by 104.6% in the 2nd quarter. National Bank of Canada FI now owns 391,428 shares of the industrial products company’s stock valued at $128,768,000 after purchasing an additional 200,134 shares in the last quarter. Hohimer Wealth Management LLC increased its holdings in Caterpillar by 163.8% in the 2nd quarter. Hohimer Wealth Management LLC now owns 4,638 shares of the industrial products company’s stock valued at $1,545,000 after purchasing an additional 2,880 shares in the last quarter. Finally, Nicholas Hoffman & Company LLC. increased its holdings in Caterpillar by 5.1% in the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 11,239 shares of the industrial products company’s stock valued at $3,744,000 after purchasing an additional 549 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Caterpillar

In related news, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the sale, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Cheryl H. Johnson sold 2,975 shares of the firm’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 value of $1,018,878.00. Following the transaction, the insider now owns 15,615 shares in the company, valued at $5,347,825.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the transaction, the insider now owns 33,442 shares in the company, valued at approximately $11,750,181.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,668 shares of company stock valued at $2,665,760. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CAT. Evercore ISI reduced 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 report on Monday, August 19th. Truist Financial reaffirmed a “buy” rating and set a $399.00 price target (up previously from $390.00) on shares of Caterpillar in a research report on Wednesday, August 7th. Bank of America reduced their price target on shares of Caterpillar from $385.00 to $376.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Citigroup assumed coverage on shares of Caterpillar in a report on Wednesday, June 26th. They issued a “buy” rating and a $380.00 target price on the stock. Finally, Barclays raised their target price on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Caterpillar presently has a consensus rating of “Hold” and an average target price of $336.31.

Caterpillar Trading Down 1.1 %

Shares of NYSE:CAT traded down $3.59 during mid-day trading on Thursday, hitting $333.16. The company had a trading volume of 1,029,026 shares, compared to its average volume of 2,673,072. The company has a market capitalization of $162.93 billion, a PE ratio of 15.20, a price-to-earnings-growth ratio of 1.66 and a beta of 1.12. The firm has a fifty day moving average price of $339.82 and a 200 day moving average price of $343.25. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78. Caterpillar Inc. has a one year low of $223.76 and a one year high of $382.01.

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

Caterpillar announced that its Board of Directors has approved a share buyback plan 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 stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Caterpillar Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd were issued a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.69%. This is an increase from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Monday, July 22nd. Caterpillar’s dividend payout ratio is presently 25.46%.

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.