Berger Financial Group Inc Sells 59 Shares of Caterpillar Inc. (NYSE:CAT)

Berger Financial Group Inc lessened its stake in shares of Caterpillar Inc. (NYSE:CAT) by 2.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,086 shares of the industrial products company’s stock after selling 59 shares during the quarter. Berger Financial Group Inc’s holdings in Caterpillar were worth $513,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CAT. Cetera Advisors LLC boosted its stake in shares of Caterpillar by 49.6% in the 2nd quarter. Cetera Advisors LLC now owns 45,409 shares of the industrial products company’s stock valued at $11,173,000 after purchasing an additional 15,052 shares during the last quarter. Meitav Investment House Ltd. increased its holdings in Caterpillar by 111.6% during the 2nd quarter. Meitav Investment House Ltd. now owns 128,093 shares of the industrial products company’s stock worth $31,316,000 after purchasing an additional 67,568 shares in the last quarter. Cetera Advisor Networks LLC lifted its stake in Caterpillar by 4.4% in the 2nd quarter. Cetera Advisor Networks LLC now owns 118,810 shares of the industrial products company’s stock valued at $29,233,000 after acquiring an additional 5,018 shares in the last quarter. Beverly Hills Private Wealth LLC boosted its holdings in Caterpillar by 9.4% during the second quarter. Beverly Hills Private Wealth LLC now owns 2,367 shares of the industrial products company’s stock worth $654,000 after purchasing an additional 204 shares during the last quarter. Finally, Cetera Investment Advisers grew its holdings in shares of Caterpillar by 0.9% in the 2nd quarter. Cetera Investment Advisers now owns 70,597 shares of the industrial products company’s stock valued at $17,370,000 after acquiring an additional 638 shares in the last quarter. 69.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Caterpillar news, insider Anthony D. Fassino sold 2,923 shares of the company’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $279.00, for a total value of $815,517.00. Following the sale, the insider now owns 16,182 shares in the company, valued at approximately $4,514,778. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.33% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Stifel Nicolaus upped their price objective on Caterpillar from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. StockNews.com upgraded shares of Caterpillar from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 30th. The Goldman Sachs Group cut their target price on shares of Caterpillar from $315.00 to $274.00 and set a “buy” rating for the company in a research note on Wednesday, November 1st. Robert W. Baird boosted their price target on Caterpillar from $183.00 to $234.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 2nd. Finally, TD Cowen raised their price objective on Caterpillar from $287.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, August 2nd. Three analysts have rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Caterpillar presently has an average rating of “Hold” and an average price target of $267.68.

Caterpillar Stock Up 0.2 %

NYSE CAT opened at $251.58 on Thursday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.45 and a quick ratio of 0.92. Caterpillar Inc. has a fifty-two week low of $204.04 and a fifty-two week high of $293.88. The stock has a market capitalization of $128.07 billion, a PE ratio of 14.23, a PEG ratio of 0.98 and a beta of 1.09. The business has a fifty day moving average price of $260.65 and a two-hundred day moving average price of $252.04.

Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, October 31st. The industrial products company reported $5.52 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 firm had revenue of $16.81 billion during the quarter, compared to the consensus estimate of $16.57 billion. During the same quarter in the previous year, the firm earned $3.95 earnings per share. The business’s quarterly revenue was up 12.1% on a year-over-year basis. Equities analysts expect that Caterpillar Inc. will post 20.48 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Monday, October 23rd will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Friday, October 20th. Caterpillar’s dividend payout ratio (DPR) is currently 29.46%.

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.