Counterweight Ventures LLC Grows Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Counterweight Ventures LLC grew its stake in shares of Caterpillar Inc. (NYSE:CAT) by 5.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,997 shares of the industrial products company’s stock after acquiring an additional 258 shares during the quarter. Counterweight Ventures LLC’s holdings in Caterpillar were worth $1,665,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CAT. Gilbert & Cook Inc. increased its holdings in shares of Caterpillar by 3.9% during the fourth quarter. Gilbert & Cook Inc. now owns 5,059 shares of the industrial products company’s stock valued at $1,496,000 after acquiring an additional 192 shares in the last quarter. 9258 Wealth Management LLC increased its holdings in shares of Caterpillar by 1.5% during the fourth quarter. 9258 Wealth Management LLC now owns 3,839 shares of the industrial products company’s stock valued at $1,135,000 after acquiring an additional 55 shares in the last quarter. Rollins Financial increased its holdings in shares of Caterpillar by 49.1% during the fourth quarter. Rollins Financial now owns 6,395 shares of the industrial products company’s stock valued at $1,891,000 after acquiring an additional 2,107 shares in the last quarter. Gryphon Financial Partners LLC increased its holdings in Caterpillar by 6.6% in the 4th quarter. Gryphon Financial Partners LLC now owns 1,496 shares of the industrial products company’s stock worth $420,000 after buying an additional 92 shares during the period. Finally, Cary Street Partners Investment Advisory LLC increased its holdings in Caterpillar by 9.5% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 16,839 shares of the industrial products company’s stock worth $4,979,000 after buying an additional 1,466 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Trading Down 1.3 %

Shares of CAT stock opened at $329.36 on Friday. Caterpillar Inc. has a fifty-two week low of $223.76 and a fifty-two week high of $382.01. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28. The stock’s fifty day moving average is $339.86 and its two-hundred day moving average is $343.44. The firm has a market capitalization of $161.07 billion, a P/E ratio of 14.87, a PEG ratio of 1.66 and a beta of 1.10.

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

Caterpillar Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd were paid a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 1.71%. The ex-dividend date was Monday, July 22nd. This is a boost from Caterpillar’s previous quarterly dividend of $1.30. Caterpillar’s payout ratio is 25.46%.

Caterpillar declared that its Board of Directors has authorized a stock repurchase plan 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 plans are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Thursday. Evercore ISI cut their price target on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Citigroup assumed coverage on shares of Caterpillar in a report on Wednesday, June 26th. They issued a “buy” rating and a $380.00 price target on the stock. Truist Financial reiterated a “buy” rating and issued a $399.00 price target (up previously from $390.00) on shares of Caterpillar in a report on Wednesday, August 7th. Finally, Bank of America dropped their price objective on shares of Caterpillar from $385.00 to $376.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Caterpillar presently has a consensus rating of “Hold” and an average price target of $336.31.

Insiders Place Their Bets

In other Caterpillar news, insider Cheryl H. Johnson sold 1,508 shares of Caterpillar stock in a transaction on Tuesday, July 16th. The shares were 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 of the company’s stock, valued at approximately $6,480,250. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Cheryl H. Johnson sold 2,975 shares of the business’s stock in a transaction dated 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 approximately $5,347,825.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Cheryl H. Johnson sold 1,508 shares of the business’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 transaction, the insider now directly owns 18,515 shares in the company, valued at approximately $6,480,250. The disclosure for this sale can be found here. Insiders have sold a total of 7,668 shares of company stock valued at $2,665,760 in the last 90 days. 0.33% of the stock is owned by 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.