Nwam LLC lifted its stake in Caterpillar Inc. (NYSE:CAT – Free Report) by 64.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,666 shares of the industrial products company’s stock after buying an additional 1,443 shares during the quarter. Nwam LLC’s holdings in Caterpillar were worth $902,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently made changes to their positions in the stock. Cetera Investment Advisers grew its position in shares of Caterpillar by 0.9% during the second quarter. Cetera Investment Advisers now owns 70,597 shares of the industrial products company’s stock worth $17,370,000 after purchasing an additional 638 shares in the last quarter. Geneos Wealth Management Inc. grew its position in shares of Caterpillar by 35.4% during the second quarter. Geneos Wealth Management Inc. now owns 16,707 shares of the industrial products company’s stock worth $4,111,000 after purchasing an additional 4,370 shares in the last quarter. PDS Planning Inc grew its position in shares of Caterpillar by 5.7% during the second quarter. PDS Planning Inc now owns 2,204 shares of the industrial products company’s stock worth $542,000 after purchasing an additional 119 shares in the last quarter. Foundations Investment Advisors LLC grew its position in shares of Caterpillar by 9.2% during the second quarter. Foundations Investment Advisors LLC now owns 5,153 shares of the industrial products company’s stock worth $1,268,000 after purchasing an additional 432 shares in the last quarter. Finally, Lifeworks Advisors LLC grew its position in shares of Caterpillar by 9.6% during the second quarter. Lifeworks Advisors LLC now owns 5,900 shares of the industrial products company’s stock worth $1,452,000 after purchasing an additional 517 shares in the last quarter. Institutional investors own 69.20% of the company’s stock.
Insider Buying and Selling at Caterpillar
In other Caterpillar news, insider Anthony D. Fassino sold 2,923 shares of Caterpillar stock in a transaction on Tuesday, August 29th. The stock was 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 directly owns 16,182 shares of the company’s stock, valued at approximately $4,514,778. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.33% of the stock is currently owned by corporate insiders.
Caterpillar Price Performance
Caterpillar (NYSE:CAT – Get Free Report) last issued its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $5.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $16.57 billion. During the same period last year, the company earned $3.95 EPS. Caterpillar’s quarterly revenue was up 12.1% compared to the same quarter last year. As a group, sell-side analysts predict that Caterpillar Inc. will post 20.48 earnings per share for the current year.
Caterpillar Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Monday, October 23rd will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Friday, October 20th. Caterpillar’s dividend payout ratio (DPR) is presently 29.46%.
Wall Street Analyst Weigh In
Several research firms have weighed in on CAT. Stifel Nicolaus raised their price target on Caterpillar from $275.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, August 2nd. Robert W. Baird raised their price target on Caterpillar from $183.00 to $234.00 and gave the company an “underperform” rating in a report on Wednesday, August 2nd. StockNews.com upgraded Caterpillar from a “buy” rating to a “strong-buy” rating in a report on Monday, October 30th. Bank of America cut their price target on Caterpillar from $323.00 to $297.00 in a report on Wednesday, October 11th. Finally, JPMorgan Chase & Co. raised their price target on Caterpillar from $315.00 to $320.00 and gave the company an “overweight” rating in a report on Monday, October 16th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $267.68.
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.
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