Jacksonville Wealth Management LLC Purchases 107 Shares of Caterpillar Inc. $CAT

Jacksonville Wealth Management LLC boosted its position in shares of Caterpillar Inc. (NYSE:CAT) by 5.6% in the second quarter, HoldingsChannel reports. The institutional investor owned 2,014 shares of the industrial products company’s stock after acquiring an additional 107 shares during the quarter. Jacksonville Wealth Management LLC’s holdings in Caterpillar were worth $782,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Caterpillar during the second quarter worth about $28,000. Family Legacy Financial Solutions LLC bought a new position in Caterpillar during the 2nd quarter valued at approximately $32,000. Harbor Asset Planning Inc. purchased a new stake in Caterpillar in the 2nd quarter worth approximately $34,000. Compass Financial Services Inc grew its position 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 buying an additional 31 shares during the last quarter. Finally, Maseco LLP purchased a new position in shares of Caterpillar during the second quarter valued at approximately $45,000. Institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CAT shares. Morgan Stanley raised their price target on Caterpillar from $350.00 to $380.00 and gave the stock an “underweight” rating in a research note on Thursday, October 30th. Truist Financial reaffirmed a “buy” rating and issued a $729.00 target price (up from $582.00) on shares of Caterpillar in a research report on Thursday, October 30th. JPMorgan Chase & Co. lifted their target price on shares of Caterpillar from $650.00 to $730.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Caterpillar in a research note on Tuesday. Finally, Oppenheimer lifted their price objective on Caterpillar from $513.00 to $645.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Caterpillar has an average rating of “Moderate Buy” and a consensus price target of $600.94.

Caterpillar Trading Down 3.4%

NYSE:CAT opened at $553.61 on Friday. The firm has a market capitalization of $259.08 billion, a P/E ratio of 28.42, a PEG ratio of 3.33 and a beta of 1.51. 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 one year low of $267.30 and a one year high of $596.21. The company’s 50-day simple moving average is $503.67 and its 200 day simple moving average is $425.24.

Caterpillar (NYSE:CAT) last released 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 net margin of 14.34% and a return on equity of 47.16%. The firm had revenue of $17.64 billion during the quarter, compared to analyst estimates of $16.72 billion. During the same period last year, the business earned $5.17 earnings per share. The business’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 fiscal year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be issued a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s payout ratio is 31.01%.

Insider Transactions at Caterpillar

In related news, insider Jason Kaiser sold 10,707 shares of the stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $563.60, for a total transaction of $6,034,465.20. Following the sale, the insider directly owned 8,649 shares of the company’s stock, valued at approximately $4,874,576.40. This represents a 55.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Lange Bob De sold 14,638 shares of Caterpillar stock in a transaction dated Wednesday, November 5th. The stock was 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 86,229 shares of company stock valued at $43,323,118. 0.33% of the stock is currently owned by corporate insiders.

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.