Hutchens & Kramer Investment Management Group LLC Purchases 104 Shares of Caterpillar Inc. (NYSE:CAT)

by · The Markets Daily

Hutchens & Kramer Investment Management Group LLC increased its holdings in Caterpillar Inc. (NYSE:CAT – Free Report) by 10.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,115 shares of the industrial products company’s stock after purchasing an additional 104 shares during the period. Hutchens & Kramer Investment Management Group LLC’s holdings in Caterpillar were worth $438,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Canada Pension Plan Investment Board raised its position in shares of Caterpillar by 306.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 407,677 shares of the industrial products company’s stock valued at $149,385,000 after buying an additional 307,479 shares in the last quarter. Altshuler Shaham Ltd lifted its stake in shares of Caterpillar by 3,319.7% in the 2nd quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company’s stock valued at $91,606,000 after purchasing an additional 266,969 shares during the last quarter. Swedbank AB purchased a new position in shares of Caterpillar in the 1st quarter worth approximately $97,042,000. Capital International Investors increased its position in shares of Caterpillar by 99.9% during the 1st quarter. Capital International Investors now owns 488,660 shares of the industrial products company’s stock valued at $179,060,000 after purchasing an additional 244,253 shares during the last quarter. Finally, National Bank of Canada FI raised its holdings in Caterpillar by 104.6% during the 2nd quarter. National Bank of Canada FI now owns 391,428 shares of the industrial products company’s stock valued at $128,768,000 after buying an additional 200,134 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Down 1.5 %

Shares of NYSE CAT traded down $5.90 during midday trading on Tuesday, reaching $388.05. 2,715,061 shares of the company’s stock traded hands, compared to its average volume of 2,652,683. The company has a market cap of $189.78 billion, a price-to-earnings ratio of 17.59, a P/E/G ratio of 1.85 and a beta of 1.10. Caterpillar Inc. has a one year low of $223.76 and a one year high of $403.60. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39. The stock’s 50 day simple moving average is $358.99 and its 200-day simple moving average is $349.46.

Caterpillar (NYSE:CAT – Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. The business had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The company’s revenue was down 3.6% compared to the same quarter last year. During the same period last year, the business earned $5.55 EPS. On average, analysts predict that Caterpillar Inc. will post 21.91 EPS for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently declared 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 1.45%. Caterpillar’s payout ratio is 25.46%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CAT shares. UBS Group boosted their price objective on shares of Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research report on Wednesday, August 7th. Barclays increased their price objective 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. Morgan Stanley lowered Caterpillar from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $349.00 to $332.00 in a research report on Monday. Bank of America increased their price target on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Finally, Truist Financial boosted their price objective on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $355.50.

Check Out Our Latest Research Report on CAT

Insider Activity

In related news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 33,442 shares in the company, valued at $11,750,181.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the sale, the insider now owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total value of $1,018,878.00. Following the sale, the insider now directly owns 15,615 shares of the company’s stock, valued at $5,347,825.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Profile

(Free Report)

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.

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