MRA Advisory Group Has $488,000 Position in Caterpillar Inc. (NYSE:CAT)

MRA Advisory Group trimmed its position in Caterpillar Inc. (NYSE:CAT) by 5.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,464 shares of the industrial products company’s stock after selling 79 shares during the quarter. MRA Advisory Group’s holdings in Caterpillar were worth $488,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Private Trust Co. NA raised its stake in Caterpillar by 0.3% in the 1st quarter. Private Trust Co. NA now owns 10,695 shares of the industrial products company’s stock valued at $3,919,000 after acquiring an additional 30 shares during the period. Southland Equity Partners LLC lifted its stake in shares of Caterpillar by 4.0% during the 1st quarter. Southland Equity Partners LLC now owns 784 shares of the industrial products company’s stock worth $287,000 after buying an additional 30 shares during the last quarter. Davis Investment Partners LLC boosted its holdings in shares of Caterpillar by 2.1% during the 1st quarter. Davis Investment Partners LLC now owns 1,454 shares of the industrial products company’s stock worth $541,000 after buying an additional 30 shares during the period. Hilltop National Bank grew its stake in Caterpillar by 1.2% in the 2nd quarter. Hilltop National Bank now owns 2,636 shares of the industrial products company’s stock valued at $878,000 after buying an additional 31 shares during the last quarter. Finally, Exchange Capital Management Inc. lifted its position in Caterpillar by 3.3% during the first quarter. Exchange Capital Management Inc. now owns 1,016 shares of the industrial products company’s stock worth $372,000 after acquiring an additional 32 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Price Performance

Shares of CAT opened at $329.36 on Friday. The business has a 50-day simple moving average of $339.86 and a two-hundred day simple moving average of $343.44. Caterpillar Inc. has a 12-month low of $223.76 and a 12-month high of $382.01. The stock has a market cap of $161.07 billion, a PE ratio of 14.87, a PEG ratio of 1.66 and a beta of 1.10. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39.

Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, topping the consensus estimate of $5.53 by $0.46. The business 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 revenue was down 3.6% compared to the same quarter last year. During the same period last year, the company earned $5.55 EPS. Analysts anticipate that Caterpillar Inc. will post 21.87 earnings per share for the current fiscal year.

Caterpillar declared that its Board of Directors has initiated a share repurchase plan on Wednesday, June 12th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 12.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

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 issued a $1.41 dividend. This is an increase from Caterpillar’s previous quarterly dividend of $1.30. This represents a $5.64 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Monday, July 22nd. Caterpillar’s payout ratio is presently 25.46%.

Insider Activity at Caterpillar

In related news, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the transaction, the insider now owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Gerald Johnson bought 100 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was acquired at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the purchase, the director now directly owns 2,842 shares in the company, valued at $962,272.78. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction on Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the sale, the insider now directly owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. The disclosure for this sale can be found here. Insiders have sold 7,668 shares of company stock worth $2,665,760 in the last quarter. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on CAT. StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a research note on Thursday. Truist Financial reiterated a “buy” rating and set a $399.00 price objective (up previously from $390.00) on shares of Caterpillar in a research report on Wednesday, August 7th. Raymond James started coverage on shares of Caterpillar in a research report on Friday, June 28th. They issued a “market perform” rating for the company. Barclays raised their price target on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Finally, UBS Group increased their target price on shares of Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Caterpillar currently has an average rating of “Hold” and an average target price of $336.31.

Caterpillar 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.