Caterpillar Inc. (NYSE:CAT) Shares Sold by Cypress Capital Group

Cypress Capital Group reduced its stake in shares of Caterpillar Inc. (NYSE:CAT) by 2.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,631 shares of the industrial products company’s stock after selling 115 shares during the quarter. Cypress Capital Group’s holdings in Caterpillar were worth $1,543,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Partnership Wealth Management LLC acquired a new position in Caterpillar during the 4th quarter worth about $26,000. Richardson Financial Services Inc. acquired a new position in shares of Caterpillar during the 4th quarter worth $27,000. Thompson Investment Management Inc. acquired a new position in shares of Caterpillar during the 1st quarter worth $27,000. Bbjs Financial Advisors LLC acquired a new position in Caterpillar in the 2nd quarter valued at about $28,000. Finally, Fairman Group LLC purchased a new stake in Caterpillar in the 1st quarter valued at about $29,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CAT shares. Bank of America decreased their price target on Caterpillar from $385.00 to $376.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Barclays increased their price target on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. Evercore ISI decreased their target price on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Truist Financial reiterated a “buy” rating and issued a $399.00 target price (up previously from $390.00) on shares of Caterpillar in a report on Wednesday, August 7th. Finally, HSBC upped their target price on Caterpillar from $330.00 to $360.00 and gave the stock a “hold” rating in a research report on Tuesday, April 30th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $336.31.

Caterpillar Trading Up 1.8 %

NYSE:CAT traded up $6.05 during mid-day trading on Friday, reaching $348.41. 2,183,912 shares of the company’s stock traded hands, compared to its average volume of 2,706,098. Caterpillar Inc. has a 12-month low of $223.76 and a 12-month high of $382.01. The company has a 50 day moving average price of $336.26 and a 200-day moving average price of $341.75. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.35 and a quick ratio of 0.83. The firm has a market capitalization of $170.39 billion, a price-to-earnings ratio of 15.73, a PEG ratio of 1.72 and a beta of 1.12.

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

Caterpillar Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd were given a dividend of $1.41 per share. The ex-dividend date of this dividend was Monday, July 22nd. This is an increase from Caterpillar’s previous quarterly dividend of $1.30. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.62%. Caterpillar’s dividend payout ratio is presently 25.46%.

Caterpillar announced that its Board of Directors has approved a stock buyback program on Wednesday, June 12th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the industrial products company to buy up to 12.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, insider Cheryl H. Johnson sold 1,508 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total transaction of $527,800.00. Following the completion of the transaction, the insider now owns 18,515 shares in the company, valued at approximately $6,480,250. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 15,615 shares in the company, valued at approximately $5,347,825.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cheryl H. Johnson sold 1,508 shares of Caterpillar stock in a transaction 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 owns 18,515 shares in the company, valued at $6,480,250. The disclosure for this sale can be found here. Insiders have sold 5,991 shares of company stock valued at $2,059,398 over the last ninety days. 0.33% of the stock is currently owned by 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.