Stonebridge Capital Management Inc. Makes New $8.36 Million Investment in Caterpillar Inc. $CAT

Stonebridge Capital Management Inc. acquired a new stake in shares of Caterpillar Inc. (NYSE:CAT) in the second quarter, Holdings Channel.com reports. The fund acquired 7,849 shares of the industrial products company’s stock, valued at approximately $8,358,000. Caterpillar comprises about 4.0% of Stonebridge Capital Management Inc.’s holdings, making the stock its 5th biggest holding.

Several other large investors have also modified their holdings of CAT. Lam Group Inc. acquired a new position in shares of Caterpillar in the 1st quarter valued at $26,000. Frazier Financial Advisors LLC lifted its stake in Caterpillar by 220.0% during the fourth quarter. Frazier Financial Advisors LLC now owns 48 shares of the industrial products company’s stock valued at $28,000 after buying an additional 33 shares in the last quarter. Decker Retirement Planning Inc. boosted its holdings in shares of Caterpillar by 440.0% in the second quarter. Decker Retirement Planning Inc. now owns 27 shares of the industrial products company’s stock worth $29,000 after buying an additional 22 shares during the period. Cornerstone Financial Management LLC purchased a new position in shares of Caterpillar in the fourth quarter worth approximately $32,000. Finally, Matrix Trust Co raised its holdings in shares of Caterpillar by 93.8% during the second quarter. Matrix Trust Co now owns 31 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 15 shares during the period. 70.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CAT has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price objective on shares of Caterpillar from $1,050.00 to $1,155.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 23rd. Barclays increased their target price on Caterpillar from $800.00 to $900.00 and gave the company an “equal weight” rating in a report on Thursday, August 6th. JPMorgan Chase & Co. raised their target price on Caterpillar from $1,125.00 to $1,165.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 17th. Truist Financial set a $980.00 price target on Caterpillar in a research report on Wednesday, August 5th. Finally, UBS Group raised their price objective on Caterpillar from $900.00 to $925.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $995.52.

Caterpillar Stock Performance

Shares of CAT opened at $813.51 on Tuesday. The firm has a market cap of $373.95 billion, a price-to-earnings ratio of 35.00, a price-to-earnings-growth ratio of 1.41 and a beta of 1.60. The company’s fifty day moving average is $868.12 and its 200-day moving average is $839.26. The company has a quick ratio of 0.85, a current ratio of 1.37 and a debt-to-equity ratio of 1.65. Caterpillar Inc. has a 12 month low of $416.44 and a 12 month high of $1,073.46.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Tuesday, August 4th. The industrial products company reported $8.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.22 by $1.95. The business had revenue of $20.54 billion during the quarter, compared to analyst estimates of $19.34 billion. Caterpillar had a net margin of 14.51% and a return on equity of 55.53%. Caterpillar’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.72 EPS. Equities analysts expect that Caterpillar Inc. will post 27.34 EPS for the current fiscal year.

Caterpillar Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Monday, July 20th were given a $1.63 dividend. This is an increase from Caterpillar’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, July 20th. Caterpillar’s payout ratio is presently 28.06%.

Insider Activity

In related news, CEO Joseph E. Creed sold 32,401 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $808.98, for a total value of $26,211,760.98. Following the transaction, the chief executive officer directly owned 34,555 shares of the company’s stock, valued at approximately $27,954,303.90. This trade represents a 48.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.33% of the company’s stock.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.