Ironwood Investment Counsel LLC Purchases 152 Shares of Caterpillar Inc. $CAT

Ironwood Investment Counsel LLC raised its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 5.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,172 shares of the industrial products company’s stock after purchasing an additional 152 shares during the period. Ironwood Investment Counsel LLC’s holdings in Caterpillar were worth $1,231,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Mid American Wealth Advisory Group Inc. acquired a new stake in Caterpillar during the 2nd quarter worth $28,000. Family Legacy Financial Solutions LLC acquired a new position in shares of Caterpillar in the 2nd quarter valued at $32,000. Harbor Asset Planning Inc. bought a new position in shares of Caterpillar in the 2nd quarter worth $34,000. Compass Financial Services Inc grew its stake in shares of Caterpillar by 49.2% during the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 31 shares during the period. Finally, Maseco LLP bought a new stake in Caterpillar in the second quarter valued at about $45,000. 70.98% of the stock is owned by institutional investors.

Caterpillar Stock Down 0.5%

Shares of CAT stock opened at $567.82 on Wednesday. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $596.21. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 1.34. The firm has a fifty day moving average of $497.84 and a 200-day moving average of $423.30. The company has a market capitalization of $265.73 billion, a price-to-earnings ratio of 29.15, a P/E/G ratio of 3.33 and a beta of 1.51.

Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share for the quarter, topping analysts’ consensus estimates of $4.52 by $0.43. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The firm had revenue of $17.64 billion during the quarter, compared to analyst estimates of $16.72 billion. During the same period in the prior year, the business earned $5.17 EPS. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. As a group, equities research analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be issued a dividend of $1.51 per share. The ex-dividend date is Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.1%. Caterpillar’s dividend payout ratio (DPR) is presently 31.01%.

Insiders Place Their Bets

In other Caterpillar news, CAO William E. Schaupp sold 1,200 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $572.22, for a total value of $686,664.00. Following the sale, the chief accounting officer owned 1,323 shares in the company, valued at approximately $757,047.06. The trade was a 47.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Susan C. Schwab sold 2,324 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $410.00, for a total transaction of $952,840.00. Following the transaction, the director directly owned 6,917 shares of the company’s stock, valued at $2,835,970. This represents a 25.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 69,662 shares of company stock worth $33,575,140 in the last 90 days. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Truist Financial restated a “buy” rating and set a $729.00 target price (up from $582.00) on shares of Caterpillar in a research report on Thursday, October 30th. HSBC upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and boosted their price objective for the company from $405.00 to $660.00 in a report on Wednesday, November 5th. JPMorgan Chase & Co. increased their target price on shares of Caterpillar from $650.00 to $730.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Caterpillar in a report on Tuesday, October 14th. Finally, Barclays upped their price objective on shares of Caterpillar from $485.00 to $555.00 and gave the company an “equal weight” rating in a research report on Thursday, October 30th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $596.59.

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.