PBMares Wealth Management LLC Boosts Position in Caterpillar Inc. (NYSE:CAT)

PBMares Wealth Management LLC boosted its holdings in Caterpillar Inc. (NYSE:CAT) by 11.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,962 shares of the industrial products company’s stock after buying an additional 200 shares during the period. PBMares Wealth Management LLC’s holdings in Caterpillar were worth $768,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bbjs Financial Advisors LLC bought a new position in shares of Caterpillar during the 2nd quarter worth $28,000. Financial Connections Group Inc. purchased a new position in Caterpillar during the second quarter valued at approximately $28,000. Fairscale Capital LLC purchased a new position in Caterpillar during the second quarter valued at approximately $36,000. POM Investment Strategies LLC raised its position in 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 acquiring an additional 108 shares in the last quarter. Finally, TruNorth Capital Management LLC grew 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 valued at $41,000 after purchasing an additional 84 shares during the period. Institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CAT. StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Bank of America lifted their target price on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research report on Monday, September 30th. UBS Group boosted their price objective on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a report on Wednesday, August 7th. Evercore ISI cut their price objective on Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Finally, JPMorgan Chase & Co. boosted their target price on Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $355.50.

Caterpillar Stock Down 0.8 %

CAT traded down $3.31 during trading on Tuesday, reaching $387.30. 485,207 shares of the stock traded hands, compared to its average volume of 2,614,930. The stock has a market cap of $189.41 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. Caterpillar Inc. has a fifty-two week low of $223.76 and a fifty-two week high of $403.60. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78. The stock’s 50-day simple moving average is $369.49 and its two-hundred day simple moving average is $350.79.

Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, beating the consensus estimate of $5.53 by $0.46. The company had revenue of $16.69 billion for the quarter, compared to analyst estimates of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The business’s revenue was down 3.6% compared to the same quarter last year. During the same period last year, the company earned $5.55 earnings per share. As a group, equities research analysts expect that Caterpillar Inc. will post 21.91 EPS for the current year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be issued a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s payout ratio is 25.46%.

Insider Buying and Selling at Caterpillar

In related news, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the transaction, the insider now directly owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 33,442 shares in the company, valued at $11,750,181.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

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.