Mirador Capital Partners LP sells 99 shares of Caterpillar Inc. (NYSE:CAT)

VaselineAugust 12, 2024

0 4 minutes read

Mirador Capital Partners LP reduced its stake in shares of Caterpillar Inc. (NYSE:CAT – Free Report) by 11.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 779 shares of the industrial products company’s stock after selling 99 shares during the quarter. Mirador Capital Partners LP’s holdings in Caterpillar were worth $259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have added to or reduced their stakes in CAT. Partnership Wealth Management LLC acquired a new position in shares of Caterpillar in the 4th quarter valued at $26,000. Richardson Financial Services Inc. acquired a new stake in shares of Caterpillar in the 4th quarter valued at approximately $27,000. Thompson Investment Management Inc. purchased a new stake in Caterpillar in the first quarter valued at about $27,000. Fairman Group LLC purchased a new position in shares of Caterpillar in the 1st quarter worth about $29,000. Finally, Vima LLC acquired a new position in shares of Caterpillar in the fourth quarter worth $30,000. Hedge funds and other institutional investors own 70.98% of the company’s shares.

Caterpillar stock fell 0.2%

CAT traded down $0.72 during trading on Monday, reaching $337.54. The company had a trading volume of 468,425 shares, compared to its average volume of 2,735,284. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.35, and a quick ratio of 0.83. The company’s fifty day moving average price is $333.35 and its 200 day moving average price is $339.47. The company has a market cap of $165.07 billion, a P/E ratio of 15.27, a PEG ratio of 1.72 and a beta of 1.12. Caterpillar Inc. has a 12-month low of $223.76 and a 12-month high of $382.01.

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Caterpillar (NYSE:CAT – Get Your Free Report ) last posted its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, topping analysts’ consensus estimates of $5.53 by $0.46. The company had revenue of $16.69 billion during the quarter, compared to analysts’ expectations of $16.91 billion. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. Caterpillar’s revenue fell 3.6% year over year. In the same quarter last year, the firm earned $5.55 EPS. Stock analysts anticipate that Caterpillar Inc. will record 21.57 EPS for the current year.

Caterpillar raises dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd will be issued a $1.41 dividend. This represents a dividend of $5.64 on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Monday, July 22. This is a positive change from Caterpillar’s previous quarterly dividend of $1.30. Caterpillar’s dividend payout ratio (DPR) is currently 25.46%.

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

Analysts on Wall Street are forecasting an increase

Several brokerages have recently weighed in on CAT. Bank of America cut their price target on shares of Caterpillar from $385.00 to $376.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. StockNews.com raised Caterpillar from a “hold” rating to a “buy” rating in a research note on Saturday. Goldman Sachs Group upped their target price on shares of Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. boosted their target price on shares of Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Finally, Barclays raised their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $337.38, according to MarketBeat.com.

Get the latest inventory report at Caterpillar

Insider work at Caterpillar

In related news, insider Cheryl H. Johnson sold 1,508 shares of the company’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 transaction, the insider now directly owns 18,515 shares of the company’s stock, valued at approximately $6,480,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this link. 0.33% of the stock is owned by insiders.

Caterpillar profile

(Free report)

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives worldwide. The Construction Industries segment offers asphalt pavers, compactors, road reclamation machines, forestry machines, cold planers, material handlers, crawler tractors, excavators, telehandlers, graders and pipelayers; compact track loaders, wheel loaders, track loaders, backhoes and skid steer loaders; and related parts and tools.