Allegheny Financial Group Has $1.23 Million Holdings in Caterpillar Inc. (NYSE:CAT)

Allegheny Financial Group reduced its holdings in Caterpillar Inc. (NYSE:CAT) by 1.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,375 shares of the industrial products company’s stock after selling 39 shares during the quarter. Allegheny Financial Group’s holdings in Caterpillar were worth $1,225,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Flagship Wealth Advisors LLC acquired a new stake in Caterpillar in the 4th quarter valued at approximately $26,000. Halbert Hargrove Global Advisors LLC bought a new stake in Caterpillar during the 4th quarter worth about $27,000. Cyrus J. Lawrence LLC acquired a new position in shares of Caterpillar during the 4th quarter worth about $27,000. Noble Wealth Management PBC bought a new position in shares of Caterpillar in the 4th quarter valued at about $31,000. Finally, Retirement Wealth Solutions LLC bought a new stake in Caterpillar during the fourth quarter worth about $34,000. Institutional investors own 70.98% of the company’s stock.

Analyst Ratings Changes

CAT has been the subject of a number of analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Caterpillar from $490.00 to $380.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Raymond James upgraded Caterpillar from a “market perform” rating to an “outperform” rating in a research note on Monday, February 3rd. Baird R W raised Caterpillar from a “strong sell” rating to a “hold” rating in a report on Thursday. UBS Group upgraded shares of Caterpillar from a “sell” rating to a “neutral” rating and upped their price objective for the company from $355.00 to $385.00 in a report on Monday, February 3rd. Finally, Morgan Stanley upgraded shares of Caterpillar from an “underweight” rating to an “equal weight” rating and cut their price objective for the stock from $300.00 to $283.00 in a research report on Wednesday, April 16th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Caterpillar has an average rating of “Moderate Buy” and a consensus price target of $366.00.

Caterpillar Trading Up 1.5 %

Shares of Caterpillar stock opened at $313.94 on Friday. The firm’s 50-day moving average price is $318.55 and its two-hundred day moving average price is $358.22. The company has a market capitalization of $150.04 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 1.87 and a beta of 1.21. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $418.50.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing the consensus estimate of $4.35 by ($0.10). The firm had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.64 billion. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. The firm’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.60 earnings per share. On average, analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Monday, April 21st will be given a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Monday, April 21st. Caterpillar’s dividend payout ratio is presently 25.56%.

Insiders Place Their Bets

In other news, Director Gerald Johnson purchased 100 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was bought at an average cost of $365.57 per share, for a total transaction of $36,557.00. Following the purchase, the director now owns 3,053 shares of the company’s stock, valued at approximately $1,116,085.21. The trade was a 3.39 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jason Kaiser sold 2,425 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total value of $860,147.50. Following the sale, the insider now owns 6,275 shares in the company, valued at $2,225,742.50. This represents a 27.87 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

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.