Addison Advisors LLC Acquires 192 Shares of Caterpillar Inc. $CAT

Addison Advisors LLC boosted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 8.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,391 shares of the industrial products company’s stock after buying an additional 192 shares during the period. Addison Advisors LLC’s holdings in Caterpillar were worth $928,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Caterpillar during the second quarter valued at $28,000. Compass Financial Services Inc lifted its position in Caterpillar by 49.2% during the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 31 shares during the period. Family Legacy Financial Solutions LLC purchased a new stake in Caterpillar during the 2nd quarter valued at about $32,000. Harbor Asset Planning Inc. acquired a new position in shares of Caterpillar in the second quarter valued at about $34,000. Finally, Total Wealth Planning & Management Inc. purchased a new position in shares of Caterpillar in the second quarter worth about $38,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Caterpillar news, Chairman Donald J. Umpleby III sold 17,168 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the completion of the transaction, the chairman owned 482,505 shares of the company’s stock, valued at $199,211,839.35. This represents a 3.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO William E. Schaupp sold 1,200 shares of Caterpillar stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $572.22, for a total value of $686,664.00. Following the completion of the sale, the chief accounting officer directly owned 1,323 shares in the company, valued at $757,047.06. This represents a 47.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 69,662 shares of company stock worth $33,575,140. Company insiders own 0.33% of the company’s stock.

Caterpillar Trading Down 1.2%

Shares of CAT stock opened at $562.82 on Monday. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $596.21. The company has a market cap of $263.39 billion, a price-to-earnings ratio of 28.89, a PEG ratio of 3.33 and a beta of 1.51. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.38 and a quick ratio of 0.81. The stock has a 50 day simple moving average of $491.77 and a 200-day simple moving average of $419.59.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $4.95 EPS for the quarter, topping the consensus estimate of $4.52 by $0.43. The company had revenue of $17.64 billion during the quarter, compared to analyst estimates of $16.72 billion. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The firm’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.17 EPS. On average, equities research analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be paid a dividend of $1.51 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.1%. Caterpillar’s payout ratio is currently 31.01%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CAT shares. Morgan Stanley upped their target price on Caterpillar from $350.00 to $380.00 and gave the company an “underweight” rating in a research report on Thursday, October 30th. HSBC raised shares of Caterpillar from a “hold” rating to a “buy” rating and upped their price objective for the company from $405.00 to $660.00 in a report on Wednesday. Evercore ISI raised shares of Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 target price for the company in a report on Tuesday, August 19th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Caterpillar in a report on Wednesday. Finally, Jefferies Financial Group increased their price target on Caterpillar from $570.00 to $700.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $596.59.

Caterpillar 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.