Caterpillar Inc. (NYSE:CAT) Shares Bought by Umpqua Bank

Umpqua Bank lifted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 1.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,525 shares of the industrial products company’s stock after purchasing an additional 79 shares during the period. Caterpillar makes up about 1.0% of Umpqua Bank’s holdings, making the stock its 25th biggest position. Umpqua Bank’s holdings in Caterpillar were worth $2,507,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Southland Equity Partners LLC lifted its position in shares of 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 purchasing an additional 30 shares in the last quarter. Davis Investment Partners LLC lifted its holdings in 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 in the last quarter. Private Trust Co. NA boosted its position 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 buying an additional 30 shares during the last quarter. Hilltop National Bank raised its position in shares of Caterpillar by 1.2% during the second quarter. Hilltop National Bank now owns 2,636 shares of the industrial products company’s stock worth $878,000 after acquiring an additional 31 shares during the last quarter. Finally, Exchange Capital Management Inc. lifted its stake in shares of Caterpillar by 3.3% during the first quarter. Exchange Capital Management Inc. now owns 1,016 shares of the industrial products company’s stock valued at $372,000 after acquiring an additional 32 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Trading Down 1.3 %

NYSE:CAT opened at $329.36 on Friday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78. The business’s 50-day simple moving average is $339.86 and its 200-day simple moving average is $343.44. Caterpillar Inc. has a fifty-two week low of $223.76 and a fifty-two week high of $382.01. The stock has a market capitalization of $161.07 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 1.66 and a beta of 1.10.

Caterpillar (NYSE:CAT) last announced 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. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The firm had revenue of $16.69 billion for the quarter, compared to analyst estimates of $16.91 billion. During the same quarter in the previous year, the firm posted $5.55 earnings per share. The business’s revenue was down 3.6% on a year-over-year basis. Sell-side analysts expect that Caterpillar Inc. will post 21.87 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd were issued a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis 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 dividend payout ratio is 25.46%.

Caterpillar declared that its Board of Directors has authorized a stock buyback plan on Wednesday, June 12th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the industrial products company to buy up to 12.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Truist Financial reiterated a “buy” rating and issued a $399.00 price objective (up from $390.00) on shares of Caterpillar in a research report on Wednesday, August 7th. StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Thursday. Raymond James started coverage on shares of Caterpillar in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Citigroup assumed coverage on shares of Caterpillar in a report on Wednesday, June 26th. They set a “buy” rating and a $380.00 target price for the company. Finally, Barclays increased their price target on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Caterpillar presently has a consensus rating of “Hold” and an average price target of $336.31.

Insider Buying and Selling at Caterpillar

In other news, Director Gerald Johnson acquired 100 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was acquired at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the acquisition, the director now owns 2,842 shares in the company, valued at $962,272.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Anthony D. Fassino sold 3,185 shares of the business’s 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 owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Gerald Johnson bought 100 shares of Caterpillar stock in a transaction that occurred on Wednesday, September 4th. The shares were acquired at an average price of $338.59 per share, with a total value of $33,859.00. Following the acquisition, the director now directly owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. The disclosure for this purchase can be found here. Insiders have sold 7,668 shares of company stock valued at $2,665,760 in the last 90 days. 0.33% of the stock is currently owned by company insiders.

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.