Alpha Cubed Investments LLC Acquires 24,007 Shares of Caterpillar Inc. $CAT

Alpha Cubed Investments LLC grew its holdings in Caterpillar Inc. (NYSE:CAT) by 17.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 163,211 shares of the industrial products company’s stock after buying an additional 24,007 shares during the quarter. Caterpillar makes up about 2.4% of Alpha Cubed Investments LLC’s investment portfolio, making the stock its 15th largest holding. Alpha Cubed Investments LLC’s holdings in Caterpillar were worth $63,360,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allworth Financial LP lifted its stake in Caterpillar by 28.5% in the second quarter. Allworth Financial LP now owns 79,859 shares of the industrial products company’s stock worth $31,002,000 after acquiring an additional 17,693 shares during the period. Addison Advisors LLC raised its holdings in Caterpillar by 8.7% in the 2nd 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 in the last quarter. Americana Partners LLC lifted its position in shares of 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 purchasing an additional 578 shares during the period. Illinois Municipal Retirement Fund boosted its stake in shares of Caterpillar by 3.8% during the 2nd quarter. Illinois Municipal Retirement Fund now owns 16,081 shares of the industrial products company’s stock valued at $6,243,000 after purchasing an additional 585 shares in the last quarter. Finally, Compass Capital Management Inc. purchased a new position in shares of Caterpillar during the second quarter valued at about $11,835,000. Institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

CAT 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 stock has a 50-day moving average price of $491.77 and a 200-day moving average price of $419.59. The firm has a market cap of $263.39 billion, a PE ratio of 28.89, a P/E/G 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.

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

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be given a $1.51 dividend. The ex-dividend date of this dividend is Monday, October 20th. This represents a $6.04 annualized dividend and a yield of 1.1%. Caterpillar’s dividend payout ratio is 31.01%.

Insiders Place Their Bets

In other news, CAO William E. Schaupp sold 1,200 shares of the business’s stock in a transaction 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 transaction, the chief accounting officer owned 1,323 shares in the company, valued at $757,047.06. The trade was a 47.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Susan C. Schwab sold 2,324 shares of the stock in a transaction on Friday, August 15th. The shares were sold at an average price of $410.00, for a total value of $952,840.00. Following the sale, the director directly owned 6,917 shares in the company, valued at $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 69,662 shares of company stock worth $33,575,140. 0.33% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CAT. Royal Bank Of Canada started coverage on shares of Caterpillar in a report on Wednesday, October 22nd. They issued a “sector perform” rating and a $560.00 price objective for the company. UBS Group increased their target price on Caterpillar from $506.00 to $581.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. Citigroup lifted their price target on Caterpillar from $570.00 to $670.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Evercore ISI raised Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price target on the stock in a research note on Tuesday, August 19th. Finally, Robert W. Baird raised their price objective on Caterpillar from $612.00 to $680.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Caterpillar presently has an average rating of “Moderate Buy” and an average target price of $596.59.

Caterpillar Company 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.