Financial Synergies Wealth Advisors Inc. Takes $1.09 Million Position in Caterpillar Inc. $CAT

Financial Synergies Wealth Advisors Inc. purchased a new stake in shares of Caterpillar Inc. (NYSE:CATFree Report) in the second quarter, Holdings Channel.com reports. The firm purchased 2,794 shares of the industrial products company’s stock, valued at approximately $1,085,000.

A number of other hedge funds have also recently made changes to their positions in CAT. Valeo Financial Advisors LLC grew its position in Caterpillar by 36,842.1% in the second quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock worth $2,833,836,000 after acquiring an additional 7,279,991 shares in the last quarter. Pacer Advisors Inc. grew its position in Caterpillar by 2,723.1% in the first quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company’s stock worth $466,430,000 after acquiring an additional 1,364,183 shares in the last quarter. Nuveen LLC purchased a new position in Caterpillar in the first quarter worth $391,788,000. Assenagon Asset Management S.A. grew its position in Caterpillar by 546.6% in the second quarter. Assenagon Asset Management S.A. now owns 843,093 shares of the industrial products company’s stock worth $327,297,000 after acquiring an additional 712,711 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Caterpillar by 9.1% in the first quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company’s stock worth $1,064,951,000 after acquiring an additional 268,300 shares in the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Caterpillar

In related news, Chairman Donald J. Umpleby III sold 17,168 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the transaction, the chairman owned 482,505 shares in the company, valued at $199,211,839.35. The trade was a 3.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Susan C. Schwab sold 2,324 shares of the business’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $410.00, for a total value of $952,840.00. Following the transaction, the director owned 6,917 shares in the company, valued at approximately $2,835,970. This represents a 25.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,985 shares of company stock worth $25,559,300 in the last 90 days. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CAT shares. Jefferies Financial Group upped their target price on shares of Caterpillar from $500.00 to $570.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. UBS Group upped their target price on shares of Caterpillar from $450.00 to $506.00 and gave the stock a “neutral” rating in a research report on Monday, October 13th. JPMorgan Chase & Co. upped their target price on shares of Caterpillar from $505.00 to $650.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. DA Davidson upped their target price on shares of Caterpillar from $331.00 to $388.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Finally, Melius Research upgraded shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price target for the company in a research report on Wednesday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Caterpillar has an average rating of “Moderate Buy” and a consensus target price of $510.60.

Read Our Latest Stock Report on Caterpillar

Caterpillar Stock Performance

NYSE CAT opened at $527.41 on Friday. The company has a 50-day simple moving average of $453.38 and a two-hundred day simple moving average of $390.93. 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 Inc. has a 12-month low of $267.30 and a 12-month high of $544.99. The firm has a market cap of $247.08 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 3.01 and a beta of 1.46.

Caterpillar (NYSE:CATGet Free Report) last issued its quarterly earnings data 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 firm had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The business’s revenue was down .7% on a year-over-year basis. During the same period last year, the company posted $5.99 earnings per share. On average, equities analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Monday, October 20th. Caterpillar’s payout ratio is currently 30.72%.

Caterpillar Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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