Allworth Financial LP Purchases 17,693 Shares of Caterpillar Inc. $CAT

Allworth Financial LP increased its position in shares of Caterpillar Inc. (NYSE:CAT) by 28.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 79,859 shares of the industrial products company’s stock after buying an additional 17,693 shares during the period. Allworth Financial LP’s holdings in Caterpillar were worth $31,002,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Addison Advisors LLC increased its stake in shares of Caterpillar by 8.7% in the second quarter. Addison Advisors LLC now owns 2,391 shares of the industrial products company’s stock worth $928,000 after purchasing an additional 192 shares during the period. Americana Partners LLC increased its position in Caterpillar by 2.3% in the 2nd quarter. Americana Partners LLC now owns 25,746 shares of the industrial products company’s stock worth $9,995,000 after buying an additional 578 shares during the period. Illinois Municipal Retirement Fund lifted its holdings in shares of Caterpillar by 3.8% during the second quarter. Illinois Municipal Retirement Fund now owns 16,081 shares of the industrial products company’s stock worth $6,243,000 after buying an additional 585 shares during the last quarter. Compass Capital Management Inc. bought a new stake in shares of Caterpillar in the second quarter valued at approximately $11,835,000. Finally, Fidelis Capital Partners LLC grew its stake in shares of Caterpillar by 2.8% in the second quarter. Fidelis Capital Partners LLC now owns 10,245 shares of the industrial products company’s stock worth $4,382,000 after acquiring an additional 275 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Performance

Caterpillar stock opened at $562.82 on Monday. The firm has a market capitalization of $263.39 billion, a P/E ratio of 28.89, a P/E/G ratio of 3.33 and a beta of 1.51. The stock has a fifty day moving average price of $491.77 and a two-hundred day moving average price of $419.59. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $596.21. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.38 and a quick ratio of 0.81.

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

Caterpillar Announces Dividend

The company 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 $1.51 dividend. The ex-dividend date 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 31.01%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CAT shares. Barclays upped their target price on shares of Caterpillar from $485.00 to $555.00 and gave the company an “equal weight” rating in a research note on Thursday, October 30th. Citigroup upped their price objective on shares of Caterpillar from $570.00 to $670.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Jefferies Financial Group boosted their price target on Caterpillar from $570.00 to $700.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Morgan Stanley raised their price objective on Caterpillar from $350.00 to $380.00 and gave the stock an “underweight” rating in a research report on Thursday, October 30th. Finally, Royal Bank Of Canada initiated coverage on Caterpillar in a report on Wednesday, October 22nd. They set a “sector perform” rating and a $560.00 price objective on the stock. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $596.59.

Insiders Place Their Bets

In other Caterpillar news, Chairman Donald J. Umpleby III sold 17,168 shares of the business’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total value of $7,088,152.16. Following the transaction, the chairman owned 482,505 shares of the company’s stock, valued at approximately $199,211,839.35. The trade was a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lange Bob De sold 14,638 shares of the firm’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $562.36, for a total value of $8,231,825.68. Following the completion of the sale, the insider owned 80,209 shares of the company’s stock, valued at approximately $45,106,333.24. This trade represents a 15.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 69,662 shares of company stock worth $33,575,140 over the last ninety days. 0.33% of the stock is owned by insiders.

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.