Rep. Marjorie Taylor Greene Buys Caterpillar Inc. (NYSE:CAT) Stock

Representative Marjorie Taylor Greene (R-Georgia) recently bought shares of Caterpillar Inc. (NYSE:CAT). In a filing disclosed on October 22nd, the Representative disclosed that they had bought between $1,001 and $15,000 in Caterpillar stock on October 21st.

Representative Marjorie Taylor Greene also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Visa (NYSE:V) on 10/21/2024.
• Purchased $1,001 – $15,000 in shares of Berkshire Hathaway (NYSE:BRK.B) on 10/21/2024.
• Purchased $1,001 – $15,000 in shares of Tesla (NASDAQ:TSLA) on 10/21/2024.
• Purchased $1,001 – $15,000 in shares of ASML (NASDAQ:ASML) on 10/21/2024.
• Purchased $1,001 – $15,000 in shares of Home Depot (NYSE:HD) on 10/21/2024.
• Purchased $1,001 – $15,000 in shares of Nestlé (OTCMKTS:NSRGY) on 10/21/2024.
• Purchased $1,001 – $15,000 in shares of Intel (NASDAQ:INTC) on 10/21/2024.
• Purchased $1,001 – $15,000 in shares of Microsoft (NASDAQ:MSFT) on 10/21/2024.
• Purchased $1,001 – $15,000 in shares of Blackstone (NYSE:BX) on 10/21/2024.
• Purchased $1,001 – $15,000 in shares of Costco Wholesale (NASDAQ:COST) on 10/4/2024.

Caterpillar Trading Down 1.1 %

Shares of CAT traded down $4.25 during mid-day trading on Wednesday, reaching $384.21. The stock had a trading volume of 748,476 shares, compared to its average volume of 2,627,658. Caterpillar Inc. has a 52-week low of $223.76 and a 52-week high of $403.60. The firm has a market cap of $187.90 billion, a price-to-earnings ratio of 17.45, a P/E/G ratio of 1.85 and a beta of 1.10. The business’s fifty day moving average is $365.94 and its 200 day moving average is $350.37. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, topping the consensus estimate of $5.53 by $0.46. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The company had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $16.91 billion. During the same quarter in the prior year, the business earned $5.55 EPS. Caterpillar’s revenue was down 3.6% on a year-over-year basis. On average, sell-side analysts predict that Caterpillar Inc. will post 21.91 EPS for the current fiscal year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be issued a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Monday, October 21st. Caterpillar’s dividend payout ratio is currently 25.46%.

Institutional Investors Weigh In On Caterpillar

Several large investors have recently added to or reduced their stakes in CAT. Silver Oak Securities Incorporated raised its stake in Caterpillar by 10.0% during the 3rd quarter. Silver Oak Securities Incorporated now owns 22,524 shares of the industrial products company’s stock valued at $8,806,000 after acquiring an additional 2,051 shares in the last quarter. Element Wealth LLC bought a new position in Caterpillar in the 3rd quarter valued at about $210,000. West Michigan Advisors LLC increased its stake in Caterpillar by 27.7% during the 3rd quarter. West Michigan Advisors LLC now owns 2,010 shares of the industrial products company’s stock valued at $786,000 after buying an additional 436 shares during the period. Mainstay Capital Management LLC ADV lifted its stake in shares of Caterpillar by 19.8% in the 3rd quarter. Mainstay Capital Management LLC ADV now owns 3,927 shares of the industrial products company’s stock worth $1,536,000 after acquiring an additional 650 shares during the period. Finally, Tectonic Advisors LLC lifted its position in Caterpillar by 2.1% in the third quarter. Tectonic Advisors LLC now owns 1,546 shares of the industrial products company’s stock worth $605,000 after purchasing an additional 32 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Caterpillar

In other news, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the completion of the transaction, the insider now owns 15,615 shares in the company, valued at approximately $5,347,825.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction on 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 completion of the transaction, the insider now owns 15,615 shares in the company, valued at $5,347,825.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gerald Johnson acquired 100 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were bought at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the acquisition, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CAT. Truist Financial increased their target price on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Raymond James began coverage on shares of Caterpillar in a research note on Friday, June 28th. They set a “market perform” rating for the company. StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. UBS Group lifted their price objective on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. raised their price target on Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Caterpillar has an average rating of “Hold” and an average price target of $355.50.

About Representative Greene

Marjorie Taylor Greene (Republican Party) is a member of the U.S. House, representing Georgia’s 14th Congressional District. She assumed office on January 3, 2021. Her current term ends on January 3, 2025. Greene (Republican Party) is running for re-election to the U.S. House to represent Georgia’s 14th Congressional District. She declared candidacy for the 2024 election. Marjorie Taylor Greene earned a bachelor’s degree in business administration from the University of Georgia. Greene’s career experience includes co-owning construction company Taylor Commercial and founding and owning a CrossFit gym.

About Caterpillar

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.