Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna Buys New Stake in Caterpillar Inc. $CAT

Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna purchased a new position in Caterpillar Inc. (NYSE:CAT) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,429 shares of the industrial products company’s stock, valued at approximately $1,331,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CAT. Pacific Point Advisors LLC purchased a new stake in shares of Caterpillar during the fourth quarter worth about $579,000. Brighton Jones LLC boosted its stake in Caterpillar by 51.5% in the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock worth $2,688,000 after purchasing an additional 2,519 shares in the last quarter. Zions Bancorporation National Association UT purchased a new stake in Caterpillar during the 1st quarter worth approximately $417,000. Covestor Ltd raised its holdings in shares of Caterpillar by 10.3% in the first quarter. Covestor Ltd now owns 406 shares of the industrial products company’s stock worth $134,000 after buying an additional 38 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Caterpillar during the first quarter worth $391,788,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

Shares of NYSE CAT opened at $595.99 on Tuesday. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.38 and a quick ratio of 0.86. The stock has a market capitalization of $278.91 billion, a price-to-earnings ratio of 30.59, a PEG ratio of 2.84 and a beta of 1.57. The firm’s 50 day simple moving average is $544.93 and its 200-day simple moving average is $455.00. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $607.00.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $16.72 billion. During the same period in the prior year, the firm posted $5.17 earnings per share. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. Analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Monday, October 20th were paid a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Monday, October 20th. Caterpillar’s payout ratio is currently 31.01%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CAT. Truist Financial restated a “buy” rating and issued a $729.00 target price (up previously from $582.00) on shares of Caterpillar in a research note on Thursday, October 30th. Erste Group Bank raised Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. HSBC raised Caterpillar from a “hold” rating to a “buy” rating and lifted their target price for the stock from $405.00 to $660.00 in a report on Wednesday, November 5th. Oppenheimer increased their price target on shares of Caterpillar from $513.00 to $645.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Caterpillar from $650.00 to $730.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Caterpillar currently has a consensus rating of “Moderate Buy” and a consensus target price of $610.32.

Insider Buying and Selling

In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $571.44, for a total transaction of $5,714,400.00. Following the completion of the transaction, the chief financial officer directly owned 55,460 shares of the company’s stock, valued at $31,692,062.40. This represents a 15.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Donald J. Umpleby III sold 17,166 shares of the stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $505.29, for a total value of $8,673,808.14. Following the transaction, the chairman owned 448,173 shares in the company, valued at $226,457,335.17. This trade represents a 3.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 79,061 shares of company stock worth $41,949,366 in the last ninety days. 0.33% of the stock is owned by corporate insiders.

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.