Concord Wealth Partners Raises Position in Caterpillar Inc. (NYSE:CAT)

Concord Wealth Partners lifted its stake in Caterpillar Inc. (NYSE:CAT) by 4.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,504 shares of the industrial products company’s stock after buying an additional 96 shares during the period. Concord Wealth Partners’ holdings in Caterpillar were worth $616,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Beaumont Financial Advisors LLC grew its stake in Caterpillar by 2.5% during the second quarter. Beaumont Financial Advisors LLC now owns 1,497 shares of the industrial products company’s stock worth $368,000 after buying an additional 37 shares during the last quarter. Peterson Wealth Advisors LLC grew its stake in Caterpillar by 3.8% during the second quarter. Peterson Wealth Advisors LLC now owns 1,094 shares of the industrial products company’s stock worth $271,000 after buying an additional 40 shares during the last quarter. First PREMIER Bank lifted its position in shares of Caterpillar by 4.0% during the second quarter. First PREMIER Bank now owns 1,049 shares of the industrial products company’s stock worth $259,000 after purchasing an additional 40 shares in the last quarter. Birchcreek Wealth Management LLC lifted its position in shares of Caterpillar by 3.0% during the second quarter. Birchcreek Wealth Management LLC now owns 1,393 shares of the industrial products company’s stock worth $343,000 after purchasing an additional 40 shares in the last quarter. Finally, Richwood Investment Advisors LLC lifted its position in shares of Caterpillar by 2.7% during the second quarter. Richwood Investment Advisors LLC now owns 1,545 shares of the industrial products company’s stock worth $380,000 after purchasing an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 69.20% of the company’s stock.

Insider Transactions at Caterpillar

In other news, insider Anthony D. Fassino sold 2,923 shares of the stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $279.00, for a total transaction of $815,517.00. Following the completion of the sale, the insider now owns 16,182 shares of the company’s stock, valued at $4,514,778. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Anthony D. Fassino sold 2,923 shares of the firm’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $279.00, for a total value of $815,517.00. Following the completion of the transaction, the insider now owns 16,182 shares of the company’s stock, valued at $4,514,778. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Cheryl H. Johnson sold 18,294 shares of the firm’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $286.33, for a total transaction of $5,238,121.02. Following the completion of the transaction, the insider now directly owns 16,362 shares of the company’s stock, valued at approximately $4,684,931.46. The disclosure for this sale can be found here. 0.33% of the stock is owned by insiders.

Analyst Ratings Changes

CAT has been the topic of a number of research reports. Bank of America reduced their target price on shares of Caterpillar from $323.00 to $297.00 in a research report on Wednesday, October 11th. Robert W. Baird upped their target price on shares of Caterpillar from $183.00 to $234.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 2nd. TD Cowen increased their price objective on shares of Caterpillar from $287.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, August 2nd. StockNews.com upgraded shares of Caterpillar from a “buy” rating to a “strong-buy” rating in a report on Monday, October 30th. Finally, Barclays increased their price objective on shares of Caterpillar from $225.00 to $250.00 and gave the company an “equal weight” rating in a report on Wednesday, August 2nd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $267.00.

Caterpillar Trading Down 1.0 %

CAT opened at $238.37 on Tuesday. The firm’s fifty day moving average is $266.58 and its two-hundred day moving average is $251.19. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.92 and a current ratio of 1.45. The firm has a market cap of $121.59 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 0.98 and a beta of 1.09. Caterpillar Inc. has a twelve month low of $204.04 and a twelve month high of $293.88.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $5.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.75 by $0.77. Caterpillar had a net margin of 13.69% and a return on equity of 56.29%. The company had revenue of $16.81 billion during the quarter, compared to the consensus estimate of $16.57 billion. During the same quarter in the prior year, the firm earned $3.95 earnings per share. The firm’s revenue was up 12.1% compared to the same quarter last year. Equities research analysts anticipate that Caterpillar Inc. will post 20.48 EPS for the current year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Monday, October 23rd will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Friday, October 20th. Caterpillar’s dividend payout ratio is 29.46%.

Caterpillar Profile

Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.