Envestnet Asset Management Inc. Has $185.13 Million Stock Position in Caterpillar Inc. $CAT

Envestnet Asset Management Inc. lifted its stake in Caterpillar Inc. (NYSE:CAT) by 3.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 476,877 shares of the industrial products company’s stock after acquiring an additional 13,669 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.10% of Caterpillar worth $185,127,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CAT. Pacific Point Advisors LLC acquired a new stake in shares of Caterpillar in the fourth quarter valued at about $579,000. Brighton Jones LLC increased its position in shares of Caterpillar by 51.5% in the fourth quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock valued at $2,688,000 after acquiring an additional 2,519 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Caterpillar by 26.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 133,397 shares of the industrial products company’s stock worth $44,097,000 after buying an additional 27,623 shares during the last quarter. Golden State Wealth Management LLC increased its position in Caterpillar by 7.0% during the first quarter. Golden State Wealth Management LLC now owns 3,558 shares of the industrial products company’s stock worth $1,174,000 after buying an additional 232 shares during the last quarter. Finally, Hills Bank & Trust Co increased its position in Caterpillar by 8.9% during the first quarter. Hills Bank & Trust Co now owns 1,249 shares of the industrial products company’s stock worth $412,000 after buying an additional 102 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CAT shares. Barclays boosted their price target on Caterpillar from $425.00 to $485.00 and gave the stock an “equal weight” rating in a research report on Friday, October 17th. Citigroup upped their target price on Caterpillar from $540.00 to $570.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Jefferies Financial Group upped their target price on Caterpillar from $500.00 to $570.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. DA Davidson upped their target price on Caterpillar from $331.00 to $388.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Finally, Robert W. Baird boosted their price target on Caterpillar from $540.00 to $612.00 in a research note on Monday, October 20th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $518.19.

Caterpillar Stock Up 0.8%

NYSE CAT opened at $527.12 on Tuesday. The business has a fifty day moving average price of $466.75 and a two-hundred day moving average price of $401.50. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $544.99. The stock has a market capitalization of $246.95 billion, a PE ratio of 26.81, a PEG ratio of 2.98 and a beta of 1.46.

Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing the consensus estimate of $4.88 by ($0.16). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The business had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $16.14 billion. During the same quarter in the previous year, the company earned $5.99 earnings per share. The firm’s revenue for the quarter was down .7% on a year-over-year basis. Equities analysts expect 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 Thursday, November 20th. Shareholders of record on Monday, October 20th will be paid a dividend of $1.51 per share. The ex-dividend date is Monday, October 20th. This represents a $6.04 annualized dividend and a yield of 1.1%. Caterpillar’s dividend payout ratio is presently 30.72%.

Insiders Place Their Bets

In other news, Director Susan C. Schwab sold 2,324 shares of the company’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the transaction, the director directly owned 6,917 shares in the company, valued at approximately $2,835,970. This represents a 25.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jason Kaiser sold 2,161 shares of the company’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the transaction, the insider owned 8,632 shares of the company’s stock, valued at $3,605,586.40. This trade represents a 20.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,985 shares of company stock worth $25,559,300 over the last three months. Insiders own 0.33% of the company’s stock.

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.