Accurate Wealth Management LLC Has $1.99 Million Stake in Caterpillar Inc. (NYSE:CAT)

Accurate Wealth Management LLC raised its position in Caterpillar Inc. (NYSE:CAT) by 5.6% during the third quarter, according to its most recent filing with the SEC. The firm owned 5,114 shares of the industrial products company’s stock after purchasing an additional 273 shares during the period. Accurate Wealth Management LLC’s holdings in Caterpillar were worth $1,985,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. RFG Advisory LLC lifted its position in shares of Caterpillar by 5.1% during the 1st quarter. RFG Advisory LLC now owns 6,783 shares of the industrial products company’s stock valued at $2,485,000 after acquiring an additional 331 shares during the period. MJP Associates Inc. ADV lifted its position in shares of Caterpillar by 8.3% during the 1st quarter. MJP Associates Inc. ADV now owns 887 shares of the industrial products company’s stock valued at $325,000 after acquiring an additional 68 shares during the period. International Assets Investment Management LLC lifted its position in shares of Caterpillar by 2.5% during the 1st quarter. International Assets Investment Management LLC now owns 5,180 shares of the industrial products company’s stock valued at $1,884,000 after acquiring an additional 127 shares during the period. Crestmont Private Wealth LLC acquired a new position in shares of Caterpillar during the 1st quarter valued at $230,000. Finally, Contravisory Investment Management Inc. acquired a new position in shares of Caterpillar during the 1st quarter valued at $456,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Performance

NYSE CAT opened at $393.84 on Friday. The company’s 50 day moving average is $363.86 and its 200-day moving average is $350.44. The firm has a market cap of $192.61 billion, a P/E ratio of 17.78, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. Caterpillar Inc. has a 12-month low of $223.76 and a 12-month high of $403.60. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.53 by $0.46. The firm had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the prior year, the firm posted $5.55 earnings per share. Sell-side analysts predict that Caterpillar Inc. will post 21.91 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be given a $1.41 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.43%. Caterpillar’s dividend payout ratio (DPR) is presently 25.46%.

Analysts Set New Price Targets

A number of research firms recently issued reports on CAT. JPMorgan Chase & Co. boosted their target price on shares of Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Citigroup lifted their price objective on shares of Caterpillar from $380.00 to $445.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. UBS Group lifted their price objective on shares of Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a report on Wednesday, August 7th. Morgan Stanley downgraded shares of Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $349.00 to $332.00 in a report on Monday, October 14th. Finally, Truist Financial upped their price objective on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $355.50.

Insider Buying and Selling

In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was 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 of the company’s stock, valued at $11,750,181.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Anthony D. Fassino sold 3,185 shares of the company’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 transaction, the insider now directly owns 33,442 shares in the company, valued at approximately $11,750,181.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gerald Johnson acquired 100 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was 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 $962,272.78. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.33% of the stock is owned by company insiders.

Caterpillar Company 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.