Activest Wealth Management Grows Stock Position in Caterpillar Inc. $CAT

Activest Wealth Management raised its holdings in Caterpillar Inc. (NYSE:CAT) by 530.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 126 shares of the industrial products company’s stock after acquiring an additional 106 shares during the quarter. Activest Wealth Management’s holdings in Caterpillar were worth $49,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Compass Financial Services Inc raised its stake in Caterpillar by 49.2% in the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock valued at $31,000 after buying an additional 31 shares during the last quarter. Family Legacy Financial Solutions LLC purchased a new stake in Caterpillar in the second quarter valued at about $32,000. Redmont Wealth Advisors LLC purchased a new stake in Caterpillar in the first quarter valued at about $33,000. Total Wealth Planning & Management Inc. purchased a new stake in Caterpillar in the second quarter valued at about $38,000. Finally, Fiduciary Wealth Partners LLC purchased a new stake in Caterpillar in the first quarter valued at about $45,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Stock Up 1.4%

Caterpillar stock opened at $541.28 on Friday. The firm has a market cap of $253.58 billion, a price-to-earnings ratio of 27.53, a price-to-earnings-growth ratio of 3.27 and a beta of 1.46. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $544.99. The business’s 50-day moving average price is $451.16 and its 200 day moving average price is $389.18. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50.

Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing the consensus estimate of $4.88 by ($0.16). The company had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The firm’s revenue was down .7% on a year-over-year basis. During the same period last year, the business earned $5.99 earnings per share. As a group, sell-side analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be issued a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s dividend payout ratio (DPR) is presently 30.72%.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Chairman Donald J. Umpleby III sold 17,166 shares of the firm’s stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $505.29, for a total value of $8,673,808.14. Following the sale, the chairman directly owned 448,173 shares of the company’s stock, valued at approximately $226,457,335.17. This trade represents a 3.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $410.00, for a total value of $952,840.00. Following the completion of the sale, the director directly owned 6,917 shares in the company, valued at approximately $2,835,970. The trade was a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,985 shares of company stock valued at $25,559,300. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CAT. Oppenheimer raised their price objective on Caterpillar from $480.00 to $513.00 and gave the stock an “outperform” rating in a research note on Monday, September 29th. Robert W. Baird raised their price objective on Caterpillar from $495.00 to $540.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 17th. Sanford C. Bernstein raised their price objective on Caterpillar from $447.00 to $502.00 and gave the stock a “market perform” rating in a research note on Tuesday. Truist Financial raised their price objective on Caterpillar from $507.00 to $582.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Finally, UBS Group raised their price objective on Caterpillar from $450.00 to $506.00 and gave the stock a “neutral” rating in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $506.60.

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.