Angeles Wealth Management LLC Cuts Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Angeles Wealth Management LLC reduced its position in Caterpillar Inc. (NYSE:CAT) by 7.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 849 shares of the industrial products company’s stock after selling 67 shares during the period. Angeles Wealth Management LLC’s holdings in Caterpillar were worth $332,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Bbjs Financial Advisors LLC bought a new stake in Caterpillar in the 2nd quarter worth about $28,000. Financial Connections Group Inc. purchased a new stake in shares of Caterpillar during the 2nd quarter valued at about $28,000. Fairscale Capital LLC bought a new stake in shares of Caterpillar in the second quarter worth approximately $36,000. POM Investment Strategies LLC raised its holdings in shares of Caterpillar by 2,160.0% during the second quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 108 shares during the last quarter. Finally, TruNorth Capital Management LLC boosted its holdings in Caterpillar by 215.4% in the second quarter. TruNorth Capital Management LLC now owns 123 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 84 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

Caterpillar Trading Up 0.9 %

Shares of CAT stock opened at $379.63 on Monday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.78 and a current ratio of 1.40. The stock has a fifty day simple moving average of $372.40 and a two-hundred day simple moving average of $351.32. The firm has a market capitalization of $184.08 billion, a PE ratio of 17.60, a PEG ratio of 1.85 and a beta of 1.10. Caterpillar Inc. has a 52-week low of $232.88 and a 52-week high of $403.60.

Caterpillar (NYSE:CAT) last released its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The business had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. During the same quarter in the prior year, the business posted $5.52 EPS. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, analysts predict that Caterpillar Inc. will post 21.82 EPS for the current fiscal year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be issued a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CAT shares. StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Robert W. Baird increased their target price on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a report on Thursday. Barclays boosted their price target on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. increased their price objective on shares of Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, Citigroup cut their target price on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $357.56.

Insider Activity at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the sale, the insider now owns 33,442 shares in the company, valued at $11,750,181.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Caterpillar news, Director Gerald Johnson purchased 100 shares of Caterpillar stock in a transaction that occurred on Wednesday, September 4th. The shares were bought at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the transaction, the director now owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the transaction, the insider now owns 33,442 shares of the company’s stock, valued at $11,750,181.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by corporate insiders.

Caterpillar Profile

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.