Key Client Fiduciary Advisors LLC Raises Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Key Client Fiduciary Advisors LLC boosted its holdings in Caterpillar Inc. (NYSE:CAT) by 5.4% in the second quarter, HoldingsChannel reports. The firm owned 724 shares of the industrial products company’s stock after purchasing an additional 37 shares during the period. Key Client Fiduciary Advisors LLC’s holdings in Caterpillar were worth $241,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Partnership Wealth Management LLC acquired a new stake in Caterpillar during the fourth quarter valued at approximately $26,000. Richardson Financial Services Inc. acquired a new stake in Caterpillar during the fourth quarter valued at approximately $27,000. Thompson Investment Management Inc. acquired a new stake in shares of Caterpillar during the 1st quarter worth approximately $27,000. Bbjs Financial Advisors LLC acquired a new stake in shares of Caterpillar during the 2nd quarter worth approximately $28,000. Finally, Fairman Group LLC acquired a new stake in shares of Caterpillar during the 1st quarter worth approximately $29,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

Shares of CAT stock traded down $1.38 during mid-day trading on Wednesday, hitting $337.42. 1,610,213 shares of the stock traded hands, compared to its average volume of 2,730,814. Caterpillar Inc. has a twelve month low of $223.76 and a twelve month high of $382.01. The firm has a market cap of $165.02 billion, a price-to-earnings ratio of 15.23, a price-to-earnings-growth ratio of 1.72 and a beta of 1.12. The company’s 50-day simple moving average is $333.84 and its 200-day simple moving average is $339.98. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.83 and a current ratio of 1.35.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.53 by $0.46. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. The company had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $16.91 billion. During the same period last year, the firm earned $5.55 EPS. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, equities research analysts expect that Caterpillar Inc. will post 21.57 earnings per share for the current 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 issued a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.67%. This is a boost from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date is Monday, July 22nd. Caterpillar’s payout ratio is presently 25.46%.

Caterpillar declared that its Board of Directors has initiated a share buyback program on Wednesday, June 12th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to repurchase up to 12.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. StockNews.com upgraded Caterpillar from a “hold” rating to a “buy” rating in a research report on Saturday. JPMorgan Chase & Co. increased their price target on Caterpillar from $385.00 to $435.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. Truist Financial reiterated a “buy” rating and set a $399.00 price target (up from $390.00) on shares of Caterpillar in a research report on Wednesday, August 7th. The Goldman Sachs Group increased their price target on Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Raymond James began coverage on Caterpillar in a research report on Friday, June 28th. They issued a “market perform” rating on the stock. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $337.38.

Insider Buying and Selling

In related news, insider Cheryl H. Johnson sold 1,508 shares of Caterpillar stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $340.00, for a total value of $512,720.00. Following the transaction, the insider now directly owns 20,023 shares in the company, valued at approximately $6,807,820. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.33% of the company’s stock.

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.