First Dallas Securities Inc. Has $3.35 Million Position in Caterpillar Inc. (NYSE:CAT)

First Dallas Securities Inc. lowered its stake in Caterpillar Inc. (NYSE:CAT) by 1.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 10,046 shares of the industrial products company’s stock after selling 152 shares during the period. Caterpillar makes up 1.5% of First Dallas Securities Inc.’s investment portfolio, making the stock its 14th biggest position. First Dallas Securities Inc.’s holdings in Caterpillar were worth $3,346,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Acadian Asset Management LLC lifted its holdings in shares of Caterpillar by 17.2% during the first quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock worth $3,308,000 after purchasing an additional 1,327 shares during the period. Diversify Advisory Services LLC bought a new stake in shares of Caterpillar in the 1st quarter valued at about $926,000. Natixis Advisors LLC raised its position in shares of Caterpillar by 3.5% during the second quarter. Natixis Advisors LLC now owns 278,259 shares of the industrial products company’s stock worth $92,688,000 after acquiring an additional 9,321 shares during the last quarter. Aigen Investment Management LP acquired a new position in shares of Caterpillar in the fourth quarter worth approximately $222,000. Finally, Olistico Wealth LLC boosted its holdings in Caterpillar by 3.4% in the fourth quarter. Olistico Wealth LLC now owns 2,130 shares of the industrial products company’s stock valued at $630,000 after acquiring an additional 70 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Performance

Shares of CAT traded down $5.43 on Thursday, reaching $331.32. 446,063 shares of the company’s stock traded hands, compared to its average volume of 2,669,663. The stock’s 50 day simple moving average is $339.82 and its two-hundred day simple moving average is $343.25. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. Caterpillar Inc. has a 52-week low of $223.76 and a 52-week high of $382.01. The stock has a market cap of $162.03 billion, a PE ratio of 15.20, a PEG ratio of 1.66 and a beta of 1.12.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, topping analysts’ consensus estimates of $5.53 by $0.46. The company had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $5.55 EPS. On average, analysts forecast that Caterpillar Inc. will post 21.87 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd were paid a dividend of $1.41 per share. This is an increase from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $5.64 annualized dividend and a dividend yield of 1.70%. Caterpillar’s dividend payout ratio is presently 25.46%.

Caterpillar declared that its board has approved a share repurchase plan on Wednesday, June 12th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the industrial products company to purchase up to 12.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Truist Financial reaffirmed a “buy” rating and issued a $399.00 price objective (up from $390.00) on shares of Caterpillar in a research note on Wednesday, August 7th. UBS Group upped their target price on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research report on Wednesday, August 7th. Evercore ISI reduced their price objective on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Citigroup assumed coverage on shares of Caterpillar in a research report on Wednesday, June 26th. They set a “buy” rating and a $380.00 target price on the stock. Finally, Bank of America reduced their price target on shares of Caterpillar from $385.00 to $376.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Two 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $336.31.

Insider Activity at Caterpillar

In other Caterpillar news, insider Cheryl H. Johnson sold 1,508 shares of the 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 $6,480,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the sale, the insider now directly owns 33,442 shares in the company, valued at approximately $11,750,181.12. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Cheryl H. Johnson sold 1,508 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $350.00, for a total value of $527,800.00. Following the completion of the transaction, the insider now owns 18,515 shares of the company’s stock, valued at approximately $6,480,250. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,668 shares of company stock worth $2,665,760. Company insiders own 0.33% of the company’s stock.

About Caterpillar

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.