Moran Wealth Management LLC lessened its position in shares of Caterpillar Inc. (NYSE:CAT – Free Report) by 4.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,390 shares of the industrial products company’s stock after selling 2,839 shares during the period. Moran Wealth Management LLC’s holdings in Caterpillar were worth $13,875,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. West Financial Advisors LLC purchased a new position in shares of Caterpillar during the 2nd quarter valued at $25,000. Northwest Capital Management Inc purchased a new stake in Caterpillar during the 2nd quarter worth about $25,000. Atlas Capital Advisors LLC lifted its holdings in Caterpillar by 272.4% during the 1st quarter. Atlas Capital Advisors LLC now owns 108 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 79 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Caterpillar by 730.8% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 108 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 95 shares in the last quarter. Finally, TFC Financial Management Inc. lifted its holdings in Caterpillar by 470.8% during the 1st quarter. TFC Financial Management Inc. now owns 137 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 113 shares in the last quarter. Hedge funds and other institutional investors own 69.20% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on CAT shares. Barclays increased their price objective on Caterpillar from $225.00 to $250.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 2nd. Bank of America dropped their price objective on Caterpillar from $323.00 to $297.00 in a report on Wednesday, October 11th. Stifel Nicolaus upped their target price on Caterpillar from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Wells Fargo & Company upped their target price on Caterpillar from $240.00 to $285.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 2nd. Finally, JPMorgan Chase & Co. upped their target price on Caterpillar from $315.00 to $320.00 and gave the stock an “overweight” rating in a research note on Monday, October 16th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $267.68.
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 transaction, the insider now owns 16,182 shares in the company, valued at $4,514,778. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is owned by company insiders.
Caterpillar Stock Up 2.0 %
Shares of CAT traded up $4.86 on Friday, reaching $253.07. The stock had a trading volume of 3,438,183 shares, compared to its average volume of 3,065,409. The firm has a market capitalization of $128.83 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 1.02 and a beta of 1.09. 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 company has a 50-day simple moving average of $259.40 and a 200-day simple moving average of $252.52. Caterpillar Inc. has a 12-month low of $204.04 and a 12-month high of $293.88.
Caterpillar (NYSE:CAT – Get Free Report) last released its earnings results on Tuesday, October 31st. The industrial products company reported $5.52 EPS for the quarter, beating analysts’ consensus estimates of $4.75 by $0.77. The company had revenue of $16.81 billion during the quarter, compared to analysts’ expectations of $16.57 billion. Caterpillar had a return on equity of 56.29% and a net margin of 13.69%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.95 EPS. Sell-side analysts predict 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. Shareholders of record on Monday, October 23rd will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Friday, October 20th. Caterpillar’s payout ratio is 29.46%.
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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