Peak Asset Management LLC Takes Position in Caterpillar Inc. (NYSE:CAT)

Peak Asset Management LLC bought a new position in Caterpillar Inc. (NYSE:CAT) during the third quarter, according to the company in its most recent filing with the SEC. The firm bought 564 shares of the industrial products company’s stock, valued at approximately $221,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Legal & General Group Plc raised its holdings in Caterpillar by 2.0% during the 2nd quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock valued at $1,286,582,000 after buying an additional 75,973 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Caterpillar by 5.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock valued at $1,022,488,000 after purchasing an additional 165,358 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Caterpillar by 39,534.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock valued at $8,356,930,000 after buying an additional 2,131,276 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Caterpillar by 10.4% during the second quarter. Ameriprise Financial Inc. now owns 2,108,817 shares of the industrial products company’s stock worth $702,431,000 after acquiring an additional 198,123 shares in the last quarter. Finally, Capital Research Global Investors boosted its position in shares of Caterpillar by 6.3% in the 1st quarter. Capital Research Global Investors now owns 2,020,100 shares of the industrial products company’s stock worth $740,225,000 after purchasing an additional 119,326 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

Shares of Caterpillar stock opened at $387.16 on Thursday. Caterpillar Inc. has a 52 week low of $241.81 and a 52 week high of $418.50. The company has a market capitalization of $186.92 billion, a PE ratio of 17.95, a price-to-earnings-growth ratio of 1.94 and a beta of 1.10. The stock’s fifty day moving average is $378.67 and its two-hundred day moving average is $353.36. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The company had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. During the same period in the prior year, the firm posted $5.52 EPS. The business’s revenue was down 4.2% on a year-over-year basis. As a group, analysts expect that Caterpillar Inc. will post 21.69 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be paid a dividend of $1.41 per share. The ex-dividend date is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.46%. Caterpillar’s dividend payout ratio is presently 26.15%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CAT shares. Truist Financial upped their price target on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. upped their price target on shares of Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Citigroup cut their target price on Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Bank of America lifted their price target on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, Evercore ISI downgraded Caterpillar from an “in-line” rating to an “underperform” rating and lifted their price objective for the stock from $321.00 to $365.00 in a research note on Wednesday. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Caterpillar has an average rating of “Hold” and an average target price of $365.33.

Insider Activity

In related news, insider Cheryl H. Johnson sold 2,975 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the completion of the transaction, the insider now owns 15,615 shares in the company, valued at $5,347,825.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CAO William E. Schaupp sold 968 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $380.98, for a total value of $368,788.64. Following the transaction, the chief accounting officer now owns 1,686 shares in the company, valued at approximately $642,332.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Cheryl H. Johnson sold 2,975 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the transaction, the insider now owns 15,615 shares of the company’s stock, valued at $5,347,825.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,749 shares of company stock worth $9,251,912. 0.29% of the stock is currently owned by company insiders.

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.