Caterpillar Inc. (NYSE:CAT) Position Boosted by Bremer Bank National Association

Bremer Bank National Association increased its holdings in Caterpillar Inc. (NYSE:CAT) by 3.7% during the second quarter, Holdings Channel reports. The firm owned 1,251 shares of the industrial products company’s stock after purchasing an additional 45 shares during the period. Bremer Bank National Association’s holdings in Caterpillar were worth $417,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CAT. Southland Equity Partners LLC grew its position in Caterpillar by 4.0% during the first quarter. Southland Equity Partners LLC now owns 784 shares of the industrial products company’s stock valued at $287,000 after purchasing an additional 30 shares in the last quarter. Davis Investment Partners LLC boosted its stake in shares of 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 buying an additional 30 shares during the period. Private Trust Co. NA grew its holdings in shares of Caterpillar by 0.3% during the 1st quarter. Private Trust Co. NA now owns 10,695 shares of the industrial products company’s stock valued at $3,919,000 after acquiring an additional 30 shares in the last quarter. Hilltop National Bank increased its stake in shares of 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 acquiring an additional 31 shares during the last quarter. Finally, Exchange Capital Management Inc. raised its holdings in shares of Caterpillar by 3.3% during the first quarter. Exchange Capital Management Inc. now owns 1,016 shares of the industrial products company’s stock worth $372,000 after acquiring an additional 32 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Stock Performance

Shares of CAT stock traded down $1.38 during trading hours on Wednesday, reaching $337.42. 1,610,213 shares of the company’s stock were exchanged, compared to its average volume of 2,730,814. Caterpillar Inc. has a fifty-two week low of $223.76 and a fifty-two week high of $382.01. The company has a quick ratio of 0.83, a current ratio of 1.35 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $165.02 billion, a P/E ratio of 15.30, a P/E/G ratio of 1.72 and a beta of 1.12. The business has a fifty day moving average price of $333.68 and a 200-day moving average price of $340.00.

Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, beating the consensus estimate of $5.53 by $0.46. The firm had revenue of $16.69 billion during the quarter, compared to analysts’ expectations of $16.91 billion. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the company earned $5.55 EPS. Analysts predict that Caterpillar Inc. will post 21.57 EPS for the current fiscal year.

Caterpillar Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Monday, July 22nd will be paid a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend is Monday, July 22nd. 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 repurchase program on Wednesday, June 12th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the industrial products company to buy up to 12.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Truist Financial restated a “buy” rating and issued a $399.00 target price (up previously from $390.00) on shares of Caterpillar in a research note on Wednesday, August 7th. StockNews.com raised shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Saturday. Bank of America decreased their target price on shares of Caterpillar from $385.00 to $376.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. UBS Group raised their price target on shares of Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a report on Wednesday, August 7th. Finally, Barclays upped their price objective 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 investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $337.38.

Insider Buying and Selling

In other news, insider Cheryl H. Johnson sold 1,508 shares of the business’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 transaction of $527,800.00. Following the sale, the insider now directly owns 18,515 shares in the company, valued at $6,480,250. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.33% of the stock is owned by company insiders.

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.