AlphaCore Capital LLC Has $1.01 Million Stock Holdings in Caterpillar Inc. $CAT

AlphaCore Capital LLC boosted its position in Caterpillar Inc. (NYSE:CAT) by 43.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,596 shares of the industrial products company’s stock after acquiring an additional 780 shares during the period. AlphaCore Capital LLC’s holdings in Caterpillar were worth $1,008,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Trivium Point Advisory LLC lifted its position in Caterpillar by 132.9% in the 2nd quarter. Trivium Point Advisory LLC now owns 1,926 shares of the industrial products company’s stock valued at $748,000 after acquiring an additional 1,099 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Caterpillar by 9.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company’s stock worth $26,037,000 after buying an additional 7,125 shares during the period. Palmer Knight Co bought a new position in shares of Caterpillar during the second quarter worth about $5,884,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in Caterpillar by 11.2% in the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,315 shares of the industrial products company’s stock valued at $5,557,000 after buying an additional 1,440 shares during the last quarter. Finally, Ransom Advisory Ltd bought a new stake in Caterpillar in the 1st quarter valued at approximately $427,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Buying and Selling at Caterpillar

In related news, insider Anthony D. Fassino sold 8,184 shares of Caterpillar stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $570.18, for a total value of $4,666,353.12. Following the transaction, the insider directly owned 41,512 shares of the company’s stock, valued at $23,669,312.16. This trade represents a 16.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Lange Bob De sold 14,638 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $562.36, for a total value of $8,231,825.68. Following the transaction, the insider directly owned 80,209 shares of the company’s stock, valued at approximately $45,106,333.24. The trade was a 15.43% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 86,229 shares of company stock worth $43,323,118 in the last three months. Company insiders own 0.33% of the company’s stock.

Caterpillar Trading Up 0.8%

Shares of Caterpillar stock opened at $550.74 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.81 and a current ratio of 1.38. The firm has a 50-day moving average of $518.69 and a 200-day moving average of $435.87. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $596.21. The stock has a market cap of $257.74 billion, a PE ratio of 28.27, a PEG ratio of 3.33 and a beta of 1.51.

Caterpillar (NYSE:CAT) last announced its 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 for 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% on a year-over-year basis. During the same period last year, the firm earned $5.17 earnings per share. As a group, sell-side analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have issued reports on CAT. Hsbc Global Res upgraded shares of Caterpillar from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Oppenheimer upped their target price on Caterpillar from $513.00 to $645.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. JPMorgan Chase & Co. raised their price target on Caterpillar from $650.00 to $730.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Truist Financial reiterated a “buy” rating and set a $729.00 price objective (up previously from $582.00) on shares of Caterpillar in a research note on Thursday, October 30th. Finally, Royal Bank Of Canada initiated coverage on Caterpillar in a report on Wednesday, October 22nd. They issued a “sector perform” rating and a $560.00 price objective for the company. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $610.32.

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.