Charles Schwab Investment Advisory Inc. Acquires Shares of 1,170 Caterpillar Inc. (NYSE:CAT)

Charles Schwab Investment Advisory Inc. purchased a new position in Caterpillar Inc. (NYSE:CAT) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,170 shares of the industrial products company’s stock, valued at approximately $288,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Beaumont Financial Advisors LLC lifted 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 purchasing an additional 37 shares in the last quarter. Palisade Asset Management LLC lifted its stake in Caterpillar by 0.4% during the second quarter. Palisade Asset Management LLC now owns 9,668 shares of the industrial products company’s stock worth $2,379,000 after purchasing an additional 39 shares in the last quarter. Peterson Wealth Advisors LLC lifted 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 purchasing an additional 40 shares in the last quarter. First PREMIER Bank lifted its stake in 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. Finally, Birchcreek Wealth Management LLC lifted its stake in 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. 69.20% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Stock Performance

Shares of CAT stock traded up $5.51 during mid-day trading on Tuesday, hitting $247.18. 622,539 shares of the stock were exchanged, compared to its average volume of 3,051,883. The stock’s fifty day simple moving average is $261.97 and its two-hundred day simple moving average is $251.84. The stock has a market capitalization of $125.83 billion, a price-to-earnings ratio of 13.69, a P/E/G ratio of 0.98 and a beta of 1.09. Caterpillar Inc. has a 12-month low of $204.04 and a 12-month high of $293.88. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.92 and a current ratio of 1.45.

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 return on equity of 56.29% and a net margin of 13.69%. The company had revenue of $16.81 billion for the quarter, compared to analyst estimates of $16.57 billion. During the same quarter last year, the company posted $3.95 earnings per share. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, analysts forecast that Caterpillar Inc. will post 20.48 EPS for the current year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Monday, October 23rd will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend is Friday, October 20th. Caterpillar’s dividend payout ratio is currently 29.46%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Stifel Nicolaus increased their price objective on Caterpillar from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Citigroup increased their price objective on Caterpillar from $240.00 to $270.00 and gave the company a “neutral” rating in a research note on Monday, July 17th. Credit Suisse Group increased their price objective on Caterpillar from $279.00 to $334.00 and gave the company an “outperform” rating in a research note on Wednesday, August 2nd. Wells Fargo & Company increased their price objective on Caterpillar from $240.00 to $285.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 2nd. Finally, Tigress Financial increased their target price on Caterpillar from $282.00 to $295.00 and gave the company a “buy” rating in a report on Wednesday, November 8th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $267.68.

Insider Buying and Selling

In related news, insider Anthony D. Fassino sold 2,923 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $279.00, for a total transaction of $815,517.00. Following 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 filing with the SEC, which is accessible through this link. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Company 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.