Bremer Bank National Association Raises Stock Position in Caterpillar Inc. (NYSE:CAT)

Bremer Bank National Association lifted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 3.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,251 shares of the industrial products company’s stock after buying an additional 45 shares during the quarter. Bremer Bank National Association’s holdings in Caterpillar were worth $417,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Southland Equity Partners LLC lifted its position in shares of Caterpillar by 4.0% in the first 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 position 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 purchasing an additional 30 shares during the period. Private Trust Co. NA grew its holdings 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 valued at $3,919,000 after purchasing an additional 30 shares during the last quarter. Hilltop National Bank lifted its stake in shares of Caterpillar by 1.2% in the second quarter. Hilltop National Bank now owns 2,636 shares of the industrial products company’s stock worth $878,000 after buying an additional 31 shares during the last quarter. Finally, Exchange Capital Management Inc. boosted its holdings in shares of Caterpillar by 3.3% during the 1st 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. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Stock Down 0.4 %

Shares of NYSE CAT traded down $1.38 during mid-day trading on Wednesday, reaching $337.42. 1,610,213 shares of the company’s stock were exchanged, 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 company has a current ratio of 1.35, a quick ratio of 0.83 and a debt-to-equity ratio of 1.41. The firm has a market capitalization of $165.02 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 1.72 and a beta of 1.12. The business has a fifty day simple moving average of $333.68 and a 200 day simple moving average of $340.00.

Caterpillar (NYSE:CAT) last released 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. The firm had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $16.91 billion. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the business posted $5.55 EPS. As a group, equities analysts expect that Caterpillar Inc. will post 21.57 EPS for the current fiscal year.

Caterpillar announced that its board has initiated a stock repurchase program on Wednesday, June 12th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to repurchase up to 12.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Caterpillar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd will be given a dividend of $1.41 per share. This is a positive change from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date is Monday, July 22nd. This represents a $5.64 annualized dividend and a dividend yield of 1.67%. Caterpillar’s payout ratio is 25.46%.

Insider Transactions at Caterpillar

In related news, insider Cheryl H. Johnson sold 1,508 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total value of $527,800.00. Following the completion of the sale, the insider now directly owns 18,515 shares in the company, valued at approximately $6,480,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CAT. JPMorgan Chase & Co. raised their price objective on shares of Caterpillar from $385.00 to $435.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. HSBC increased their target price on shares of Caterpillar from $330.00 to $360.00 and gave the company a “hold” rating in a research note on Tuesday, April 30th. Truist Financial restated a “buy” rating and set a $399.00 price target (up from $390.00) on shares of Caterpillar in a research note on Wednesday, August 7th. Raymond James assumed coverage on Caterpillar in a research report on Friday, June 28th. They issued a “market perform” rating for the company. Finally, Stifel Nicolaus lowered Caterpillar from a “buy” rating to a “hold” rating and upped their target price for the company from $293.00 to $350.00 in a research note on Friday, April 26th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $337.38.

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.