Caterpillar Inc. (NYSE:CAT) Shares Purchased by Empirical Finance LLC

Empirical Finance LLC boosted its holdings in Caterpillar Inc. (NYSE:CAT) by 3.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,899 shares of the industrial products company’s stock after purchasing an additional 618 shares during the quarter. Empirical Finance LLC’s holdings in Caterpillar were worth $6,925,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Private Trust Co. NA increased its stake in Caterpillar by 0.3% during the first quarter. Private Trust Co. NA now owns 10,695 shares of the industrial products company’s stock worth $3,919,000 after acquiring an additional 30 shares during the last quarter. Southland Equity Partners LLC increased its stake in Caterpillar by 4.0% during the first quarter. Southland Equity Partners LLC now owns 784 shares of the industrial products company’s stock worth $287,000 after acquiring an additional 30 shares during the last quarter. Davis Investment Partners LLC increased its stake in Caterpillar by 2.1% during the first quarter. Davis Investment Partners LLC now owns 1,454 shares of the industrial products company’s stock worth $541,000 after acquiring an additional 30 shares during the last quarter. Exchange Capital Management Inc. boosted its position in shares of Caterpillar by 3.3% in the first quarter. Exchange Capital Management Inc. now owns 1,016 shares of the industrial products company’s stock worth $372,000 after buying an additional 32 shares during the period. Finally, McIlrath & Eck LLC boosted its position in shares of Caterpillar by 4.4% in the fourth quarter. McIlrath & Eck LLC now owns 789 shares of the industrial products company’s stock worth $233,000 after buying an additional 33 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Price Performance

NYSE CAT traded up $4.46 on Friday, reaching $335.59. 2,402,602 shares of the stock traded hands, compared to its average volume of 2,692,870. The firm’s fifty day simple moving average is $337.19 and its 200 day simple moving average is $331.43. 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 company has a market cap of $164.12 billion, a price-to-earnings ratio of 15.18, a P/E/G ratio of 1.69 and a beta of 1.12. Caterpillar Inc. has a 12 month low of $223.76 and a 12 month high of $382.01.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Thursday, April 25th. The industrial products company reported $5.60 earnings per share for the quarter, topping the consensus estimate of $5.12 by $0.48. The business had revenue of $15.80 billion during the quarter, compared to analyst estimates of $16.07 billion. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. As a group, research analysts predict that Caterpillar Inc. will post 21.73 EPS for the current fiscal year.

Caterpillar Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd will be paid a dividend of $1.41 per share. The ex-dividend date is Monday, July 22nd. This is a positive change from Caterpillar’s previous quarterly dividend of $1.30. This represents a $5.64 annualized dividend and a dividend yield of 1.68%. Caterpillar’s dividend payout ratio (DPR) is currently 23.48%.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CAT shares. JPMorgan Chase & Co. upped their target price on Caterpillar from $385.00 to $435.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. Oppenheimer reaffirmed a “market perform” rating on shares of Caterpillar in a research report on Thursday, April 18th. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a research report on Monday. Citigroup assumed coverage on Caterpillar in a research report on Wednesday, June 26th. They issued a “buy” rating and a $380.00 target price for the company. Finally, Truist Financial assumed coverage on Caterpillar in a report on Thursday, March 14th. They issued a “buy” rating and a $390.00 price target for the company. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $329.63.

Insider Transactions at Caterpillar

In other news, insider Lange Bob De sold 21,847 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $356.90, for a total transaction of $7,797,194.30. Following the completion of the sale, the insider now directly owns 71,115 shares of the company’s stock, valued at approximately $25,380,943.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Lange Bob De sold 21,847 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $356.90, for a total value of $7,797,194.30. Following the completion of the sale, the insider now owns 71,115 shares of the company’s stock, valued at $25,380,943.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David Maclennan bought 500 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was acquired at an average cost of $337.39 per share, with a total value of $168,695.00. Following the transaction, the director now owns 5,738 shares of the company’s stock, valued at $1,935,943.82. The disclosure for this purchase can be found here. Corporate 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.