WNY Asset Management LLC Purchases New Position in Caterpillar Inc. $CAT

WNY Asset Management LLC acquired a new stake in shares of Caterpillar Inc. (NYSE:CAT) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 938 shares of the industrial products company’s stock, valued at approximately $999,000.

Several other large investors have also recently bought and sold shares of the company. Lam Group Inc. acquired a new position in shares of Caterpillar in the 1st quarter valued at $26,000. Frazier Financial Advisors LLC raised its stake in Caterpillar by 220.0% during the 4th quarter. Frazier Financial Advisors LLC now owns 48 shares of the industrial products company’s stock worth $28,000 after buying an additional 33 shares during the period. Decker Retirement Planning Inc. lifted its holdings in Caterpillar by 440.0% during the second quarter. Decker Retirement Planning Inc. now owns 27 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 22 shares in the last quarter. Cornerstone Financial Management LLC bought a new position in Caterpillar during the fourth quarter worth about $32,000. Finally, Matrix Trust Co grew its stake in Caterpillar by 93.8% in the second quarter. Matrix Trust Co now owns 31 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 15 shares during the period. Institutional investors own 70.98% of the company’s stock.

Insider Activity

In other news, CEO Joseph E. Creed sold 32,401 shares of the company’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $808.98, for a total value of $26,211,760.98. Following the sale, the chief executive officer directly owned 34,555 shares of the company’s stock, valued at approximately $27,954,303.90. This represents a 48.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CAT. Erste Group Bank lowered Caterpillar from a “buy” rating to a “hold” rating in a research report on Monday, July 27th. Oppenheimer reissued an “outperform” rating and set a $1,118.00 target price on shares of Caterpillar in a research note on Tuesday, August 4th. Zacks Research raised shares of Caterpillar from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 12th. Truist Financial set a $980.00 price target on shares of Caterpillar in a report on Wednesday, August 5th. Finally, Rothschild & Co Redburn increased their price objective on shares of Caterpillar from $700.00 to $950.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, Caterpillar currently has a consensus rating of “Moderate Buy” and an average price target of $995.52.

Caterpillar Stock Down 0.1%

NYSE:CAT opened at $813.51 on Tuesday. Caterpillar Inc. has a twelve month low of $416.44 and a twelve month high of $1,073.46. The firm has a market capitalization of $373.95 billion, a price-to-earnings ratio of 35.00, a price-to-earnings-growth ratio of 1.41 and a beta of 1.60. The company has a quick ratio of 0.85, a current ratio of 1.37 and a debt-to-equity ratio of 1.65. The stock’s 50 day moving average price is $868.12 and its two-hundred day moving average price is $839.26.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Tuesday, August 4th. The industrial products company reported $8.17 EPS for the quarter, beating the consensus estimate of $6.22 by $1.95. The company had revenue of $20.54 billion during the quarter, compared to the consensus estimate of $19.34 billion. Caterpillar had a return on equity of 55.53% and a net margin of 14.51%.The firm’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.72 EPS. Equities research analysts expect that Caterpillar Inc. will post 27.34 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Monday, July 20th were paid a dividend of $1.63 per share. The ex-dividend date was Monday, July 20th. This represents a $6.52 annualized dividend and a dividend yield of 0.8%. This is a boost from Caterpillar’s previous quarterly dividend of $1.51. Caterpillar’s dividend payout ratio (DPR) is presently 28.06%.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.