586 Shares in Caterpillar Inc. $CAT Acquired by Atlas Legacy Advisors LLC

Atlas Legacy Advisors LLC bought a new stake in shares of Caterpillar Inc. (NYSE:CAT) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 586 shares of the industrial products company’s stock, valued at approximately $227,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CAT. Mid American Wealth Advisory Group Inc. bought a new position in Caterpillar in the second quarter valued at about $28,000. Compass Financial Services Inc lifted its stake in shares of Caterpillar by 49.2% in the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 31 shares during the period. Family Legacy Financial Solutions LLC purchased a new position in shares of Caterpillar in the second quarter worth approximately $32,000. Harbor Asset Planning Inc. bought a new stake in Caterpillar during the second quarter valued at approximately $34,000. Finally, Total Wealth Planning & Management Inc. purchased a new stake in Caterpillar during the second quarter valued at approximately $38,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Trading Down 1.2%

CAT stock opened at $562.82 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.38 and a quick ratio of 0.81. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $596.21. The business has a 50 day simple moving average of $491.77 and a two-hundred day simple moving average of $417.84. The company has a market capitalization of $263.67 billion, a price-to-earnings ratio of 28.89, a PEG ratio of 3.33 and a beta of 1.51.

Caterpillar (NYSE:CAT) last released its quarterly earnings data 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 net margin of 14.34% and a return on equity of 47.16%. The firm had revenue of $17.64 billion for the quarter, compared to analysts’ expectations of $16.72 billion. During the same quarter last year, the business posted $5.17 earnings per share. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. Research analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders 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 yield of 1.1%. Caterpillar’s payout ratio is presently 31.01%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CAT. Morgan Stanley boosted their price objective on shares of Caterpillar from $350.00 to $380.00 and gave the company an “underweight” rating in a research report on Thursday, October 30th. Oppenheimer lifted their target price on Caterpillar from $513.00 to $645.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Weiss Ratings restated a “buy (b)” rating on shares of Caterpillar in a research report on Tuesday, October 14th. Erste Group Bank raised Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Finally, DA Davidson boosted their price objective on Caterpillar from $408.00 to $569.00 and gave the company a “neutral” rating in a research note on Monday. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Caterpillar presently has a consensus rating of “Moderate Buy” and an average target price of $588.94.

Insider Buying and Selling at Caterpillar

In related news, Director Susan C. Schwab sold 2,324 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was 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 of the company’s stock, 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 this link. Also, CAO William E. Schaupp sold 1,200 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $572.22, for a total value of $686,664.00. Following the transaction, the chief accounting officer owned 1,323 shares of the company’s stock, valued at $757,047.06. This represents a 47.56% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 71,823 shares of company stock worth $34,477,790. 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.