Summit X LLC Purchases 106 Shares of Caterpillar Inc. $CAT

Summit X LLC increased its position in Caterpillar Inc. (NYSE:CAT) by 10.3% in the 2nd quarter, Holdings Channel reports. The firm owned 1,131 shares of the industrial products company’s stock after buying an additional 106 shares during the quarter. Summit X LLC’s holdings in Caterpillar were worth $441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. King Luther Capital Management Corp boosted its holdings in Caterpillar by 18.9% during the second quarter. King Luther Capital Management Corp now owns 21,584 shares of the industrial products company’s stock valued at $8,379,000 after purchasing an additional 3,434 shares in the last quarter. PFG Advisors grew its position in Caterpillar by 15.0% in the second quarter. PFG Advisors now owns 17,389 shares of the industrial products company’s stock valued at $6,750,000 after acquiring an additional 2,262 shares during the period. Pinnacle Wealth Management Advisory Group LLC raised its stake in Caterpillar by 16.8% during the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 7,161 shares of the industrial products company’s stock worth $2,780,000 after acquiring an additional 1,031 shares in the last quarter. Midwest Trust Co bought a new position in shares of Caterpillar during the second quarter valued at $66,822,000. Finally, 1ST Source Bank grew its holdings in shares of Caterpillar by 1.4% in the 2nd quarter. 1ST Source Bank now owns 9,434 shares of the industrial products company’s stock worth $3,662,000 after purchasing an additional 131 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Activity

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of the stock in a transaction 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 sale, the director directly owned 6,917 shares in the company, valued at approximately $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Lange Bob De sold 14,638 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $562.36, for a total transaction of $8,231,825.68. Following the completion of the transaction, the insider directly owned 80,209 shares of the company’s stock, valued at $45,106,333.24. This trade represents a 15.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 69,662 shares of company stock valued at $33,575,140. 0.33% of the stock is currently owned by company insiders.

Caterpillar Price Performance

Shares of CAT stock opened at $562.82 on Monday. The firm’s 50 day moving average price is $491.77 and its two-hundred day moving average price is $419.59. The stock has a market cap of $263.39 billion, a PE ratio of 28.89, a PEG ratio of 3.33 and a beta of 1.51. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $596.21. 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 posted its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share (EPS) for the quarter, topping 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 business had revenue of $17.64 billion for the quarter, compared to analyst estimates of $16.72 billion. During the same period last year, the company earned $5.17 EPS. The firm’s revenue was up 9.5% on a year-over-year basis. As a group, analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be paid a dividend of $1.51 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $6.04 annualized dividend and a yield of 1.1%. Caterpillar’s dividend payout ratio (DPR) is presently 31.01%.

Analyst Upgrades and Downgrades

CAT has been the topic of a number of recent analyst reports. Hsbc Global Res upgraded shares of Caterpillar from a “hold” rating to a “strong-buy” rating in a research report on Thursday. Morgan Stanley increased their price target on Caterpillar from $350.00 to $380.00 and gave the stock an “underweight” rating in a research report on Thursday, October 30th. Bank of America lifted their price objective on Caterpillar from $594.00 to $650.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Erste Group Bank upgraded Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Finally, Robert W. Baird increased their price objective on shares of Caterpillar from $612.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Three investment 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 given a Sell rating to the company’s stock. According to data from MarketBeat, Caterpillar has an average rating of “Moderate Buy” and a consensus target price of $596.59.

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.