Icon Wealth Advisors LLC Increases Stake in Caterpillar Inc. (NYSE:CAT)

Icon Wealth Advisors LLC raised its stake in shares of Caterpillar Inc. (NYSE:CAT) by 12.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,955 shares of the industrial products company’s stock after purchasing an additional 212 shares during the period. Icon Wealth Advisors LLC’s holdings in Caterpillar were worth $765,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Fisher Asset Management LLC grew its position in Caterpillar by 2.3% during the third quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock valued at $3,501,554,000 after acquiring an additional 205,012 shares during the period. Legal & General Group Plc grew its holdings in shares of Caterpillar by 2.0% during the 2nd quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock worth $1,286,582,000 after purchasing an additional 75,973 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Caterpillar by 1.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,627,513 shares of the industrial products company’s stock worth $1,418,793,000 after purchasing an additional 64,452 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Caterpillar by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,227,378 shares of the industrial products company’s stock valued at $1,262,290,000 after buying an additional 8,088 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Caterpillar by 5.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock valued at $1,022,488,000 after buying an additional 165,358 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Robert W. Baird increased their price objective on shares of Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. Barclays raised their price objective on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. UBS Group upped their target price on Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. raised their target price on Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, Bank of America upped their price target on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $365.33.

Caterpillar Trading Up 0.6 %

CAT opened at $406.11 on Friday. Caterpillar Inc. has a 12-month low of $247.84 and a 12-month high of $418.50. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86. The stock has a market capitalization of $196.07 billion, a PE ratio of 18.83, a P/E/G ratio of 1.99 and a beta of 1.10. The firm’s fifty day moving average price is $391.37 and its 200 day moving average price is $357.75.

Caterpillar (NYSE:CAT) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The company had revenue of $16.11 billion during the quarter, compared to analyst estimates of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter last year, the company posted $5.52 EPS. As a group, research analysts expect that Caterpillar Inc. will post 21.67 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st were given a $1.41 dividend. The ex-dividend date was Monday, October 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.39%. Caterpillar’s payout ratio is 26.15%.

Insider Activity

In other Caterpillar news, insider Lange Bob De sold 12,657 shares of Caterpillar stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $410.25, for a total value of $5,192,534.25. Following the completion of the transaction, the insider now directly owns 71,107 shares in the company, valued at $29,171,646.75. The trade was a 15.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Cheryl H. Johnson sold 2,664 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $378.84, for a total value of $1,009,229.76. Following the sale, the insider now owns 12,951 shares in the company, valued at $4,906,356.84. The trade was a 17.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,589 shares of company stock worth $7,113,953. 0.29% of the stock is currently owned by insiders.

About Caterpillar

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.