Mission Wealth Management LP Has $4.07 Million Position in Caterpillar Inc. $CAT

Mission Wealth Management LP cut its holdings in Caterpillar Inc. (NYSE:CAT) by 1.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,479 shares of the industrial products company’s stock after selling 133 shares during the period. Mission Wealth Management LP’s holdings in Caterpillar were worth $4,068,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Mid American Wealth Advisory Group Inc. acquired a new position in Caterpillar in the second quarter valued at approximately $28,000. Compass Financial Services Inc grew its position in shares of Caterpillar by 49.2% during the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after buying an additional 31 shares during the period. Family Legacy Financial Solutions LLC bought a new stake in shares of Caterpillar in the 2nd quarter valued at $32,000. Harbor Asset Planning Inc. acquired a new position in shares of Caterpillar during the 2nd quarter valued at $34,000. Finally, Total Wealth Planning & Management Inc. bought a new position in Caterpillar during the second quarter worth $38,000. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

Shares of CAT opened at $578.28 on Monday. The firm has a market capitalization of $270.91 billion, a P/E ratio of 29.69, a P/E/G ratio of 3.33 and a beta of 1.46. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $596.21. The stock has a 50 day moving average price of $478.42 and a two-hundred day moving average price of $410.02. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.81 and a current ratio of 1.38.

Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.52 by $0.43. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The company had revenue of $17.64 billion for the quarter, compared to analysts’ expectations of $16.72 billion. During the same quarter in the previous year, the firm earned $5.17 earnings per share. Caterpillar’s quarterly revenue was up 9.5% on a year-over-year basis. Equities analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be paid a $1.51 dividend. The ex-dividend date is Monday, October 20th. This represents a $6.04 annualized dividend and a dividend yield of 1.0%. Caterpillar’s dividend payout ratio is presently 31.01%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CAT shares. Truist Financial reaffirmed a “buy” rating and issued a $729.00 price target (up from $582.00) on shares of Caterpillar in a research note on Thursday. UBS Group raised their target price on Caterpillar from $450.00 to $506.00 and gave the company a “neutral” rating in a research note on Monday, October 13th. Erste Group Bank raised Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Sanford C. Bernstein raised their price objective on Caterpillar from $502.00 to $557.00 and gave the company a “market perform” rating in a research note on Thursday. Finally, Morgan Stanley boosted their price objective on Caterpillar from $350.00 to $380.00 and gave the company an “underweight” rating in a report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $568.50.

Insider Activity

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of the 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 completion of the sale, the director owned 6,917 shares in the company, valued at approximately $2,835,970. This trade represents a 25.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jason Kaiser sold 2,161 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of the transaction, the insider owned 8,632 shares in the company, valued at $3,605,586.40. The trade was a 20.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 55,985 shares of company stock worth $25,559,300 over the last quarter. Insiders own 0.33% 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.