Caterpillar Inc. $CAT Shares Purchased by 1900 Wealth Management LLC

1900 Wealth Management LLC boosted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 56.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,516 shares of the industrial products company’s stock after purchasing an additional 1,989 shares during the period. 1900 Wealth Management LLC’s holdings in Caterpillar were worth $2,632,000 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. Goldstone Financial Group LLC lifted its stake in shares of Caterpillar by 30.8% during the third quarter. Goldstone Financial Group LLC now owns 4,487 shares of the industrial products company’s stock worth $2,141,000 after purchasing an additional 1,057 shares in the last quarter. Encompass More Asset Management bought a new position in shares of Caterpillar in the third quarter worth $210,000. Financial Partners Group Inc boosted its holdings in shares of Caterpillar by 9.7% in the third quarter. Financial Partners Group Inc now owns 1,576 shares of the industrial products company’s stock valued at $752,000 after acquiring an additional 140 shares in the last quarter. Institute for Wealth Management LLC. lifted its holdings in shares of Caterpillar by 2.2% in the third quarter. Institute for Wealth Management LLC. now owns 4,563 shares of the industrial products company’s stock valued at $2,177,000 after buying an additional 98 shares during the period. Finally, Kavar Capital Partners Group LLC lifted its stake in Caterpillar by 1.3% during the third quarter. Kavar Capital Partners Group LLC now owns 23,524 shares of the industrial products company’s stock valued at $11,225,000 after purchasing an additional 304 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Buying and Selling

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $571.44, for a total transaction of $5,714,400.00. Following the sale, the chief financial officer directly owned 55,460 shares in the company, valued at $31,692,062.40. This represents a 15.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Anthony D. Fassino sold 8,184 shares of the stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $570.18, for a total transaction of $4,666,353.12. Following the sale, the insider owned 41,512 shares in the company, valued at $23,669,312.16. This represents a 16.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 61,895 shares of company stock valued at $34,007,516 in the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Erste Group Bank upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Bank of America raised their target price on shares of Caterpillar from $594.00 to $650.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. HSBC raised shares of Caterpillar from a “hold” rating to a “buy” rating and increased their price target for the company from $405.00 to $660.00 in a report on Wednesday, November 5th. Oppenheimer lifted their target price on shares of Caterpillar from $513.00 to $645.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Finally, Wells Fargo & Company initiated coverage on shares of Caterpillar in a research report on Thursday, November 13th. They set an “overweight” rating and a $675.00 target price for the company. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $616.00.

Caterpillar Stock Down 0.1%

NYSE:CAT opened at $583.09 on Monday. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $627.50. The stock has a 50-day simple moving average of $568.28 and a 200 day simple moving average of $478.35. The company has a market cap of $272.88 billion, a PE ratio of 29.93, a PEG ratio of 2.74 and a beta of 1.57. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.86 and a current ratio of 1.38.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Monday, November 3rd. The industrial products company reported $4.95 earnings per share for the quarter, beating analysts’ consensus estimates of $4.52 by $0.43. The firm had revenue of $17.64 billion during the quarter, compared to the consensus estimate of $16.72 billion. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The business’s revenue was up 9.5% compared to the same quarter last year. During the same period last year, the company earned $5.17 earnings per share. On average, sell-side analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Tuesday, January 20th will be issued a dividend of $1.51 per share. The ex-dividend date of this dividend is Tuesday, January 20th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.0%. Caterpillar’s dividend payout ratio (DPR) is currently 31.01%.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.