Perigon Wealth Management LLC Raises Stake in Caterpillar, Inc. (CAT)

Perigon Wealth Management LLC increased its position in shares of Caterpillar, Inc. (NYSE:CAT) by 389.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,252 shares of the industrial products company’s stock after acquiring an additional 9,750 shares during the quarter. Perigon Wealth Management LLC’s holdings in Caterpillar were worth $1,317,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quadrant Capital Group LLC lifted its stake in Caterpillar by 10.6% in the second quarter. Quadrant Capital Group LLC now owns 1,339 shares of the industrial products company’s stock valued at $102,000 after buying an additional 128 shares during the period. Baker Ellis Asset Management LLC acquired a new position in Caterpillar in the second quarter valued at about $104,000. Motco lifted its stake in Caterpillar by 264.9% in the second quarter. Motco now owns 989 shares of the industrial products company’s stock valued at $106,000 after buying an additional 718 shares during the period. Harbour Capital Advisors LLC acquired a new position in Caterpillar in the first quarter valued at about $107,000. Finally, Acrospire Investment Management LLC lifted its stake in Caterpillar by 900.0% in the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the industrial products company’s stock valued at $107,000 after buying an additional 900 shares during the period. 69.38% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Caterpillar, Inc. (NYSE CAT) opened at $137.54 on Wednesday. Caterpillar, Inc. has a 52-week low of $90.34 and a 52-week high of $140.44. The stock has a market capitalization of $81,226.29, a P/E ratio of 24.60, a PEG ratio of 2.07 and a beta of 1.29. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.44 and a quick ratio of 1.04.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.68. Caterpillar had a return on equity of 23.22% and a net margin of 2.09%. The company had revenue of $11.41 billion during the quarter, compared to analysts’ expectations of $10.69 billion. During the same period last year, the firm posted $0.85 earnings per share. The business’s revenue was up 24.6% on a year-over-year basis. sell-side analysts anticipate that Caterpillar, Inc. will post 6.4 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Monday, October 23rd will be given a $0.78 dividend. The ex-dividend date of this dividend is Friday, October 20th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.27%. Caterpillar’s payout ratio is 216.67%.

In related news, insider Lange Bob De sold 1,572 shares of Caterpillar stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $137.58, for a total transaction of $216,275.76. Following the completion of the sale, the insider now directly owns 11,096 shares of the company’s stock, valued at approximately $1,526,587.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Daniel M. Dickinson sold 3,813 shares of Caterpillar stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $137.09, for a total value of $522,724.17. Following the sale, the director now directly owns 6,554 shares of the company’s stock, valued at $898,487.86. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

Several brokerages have issued reports on CAT. Wells Fargo & Company restated an “outperform” rating on shares of Caterpillar in a report on Wednesday, July 26th. Vetr upgraded Caterpillar from a “strong sell” rating to a “buy” rating and set a $120.03 price target for the company in a report on Thursday, August 10th. Citigroup Inc. increased their price target on Caterpillar from $115.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday, July 26th. Tigress Financial restated a “buy” rating on shares of Caterpillar in a report on Monday, September 18th. Finally, BidaskClub downgraded Caterpillar from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $133.92.

Caterpillar Profile

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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