Pinnacle Financial Group LLC IL Raises Position in Caterpillar Inc. $CAT

Pinnacle Financial Group LLC IL increased its position in shares of Caterpillar Inc. (NYSE:CAT) by 17.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,451 shares of the industrial products company’s stock after purchasing an additional 219 shares during the period. Pinnacle Financial Group LLC IL’s holdings in Caterpillar were worth $563,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Caterpillar in the 2nd quarter valued at approximately $28,000. Family Legacy Financial Solutions LLC purchased a new position in Caterpillar in the second quarter worth $32,000. Harbor Asset Planning Inc. purchased a new stake in shares of Caterpillar during the 2nd quarter worth $34,000. Compass Financial Services Inc grew its stake 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 purchasing an additional 31 shares during the period. Finally, Maseco LLP acquired a new stake in shares of Caterpillar in the second quarter valued at about $45,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Lange Bob De sold 14,638 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $562.36, for a total value of $8,231,825.68. Following the sale, the insider directly owned 80,209 shares of the company’s stock, valued at approximately $45,106,333.24. This trade represents a 15.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jason Kaiser sold 10,707 shares of the stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $563.60, for a total transaction of $6,034,465.20. Following the transaction, the insider owned 8,649 shares in the company, valued at approximately $4,874,576.40. The trade was a 55.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 86,229 shares of company stock valued at $43,323,118. 0.33% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. UBS Group boosted their price target on Caterpillar from $506.00 to $581.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Caterpillar in a research report on Tuesday, November 11th. HSBC raised Caterpillar from a “hold” rating to a “buy” rating and lifted their price target for the stock from $405.00 to $660.00 in a research note on Wednesday, November 5th. Jefferies Financial Group raised their target price on shares of Caterpillar from $570.00 to $700.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Finally, Citigroup lifted their target price on shares of Caterpillar from $570.00 to $670.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $600.94.

Caterpillar Price Performance

NYSE:CAT opened at $552.74 on Monday. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $596.21. The firm has a market cap of $258.67 billion, a price-to-earnings ratio of 28.37, a price-to-earnings-growth ratio of 3.33 and a beta of 1.51. The company’s 50-day moving average is $506.27 and its two-hundred day moving average is $428.62. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 1.34.

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

Caterpillar Dividend Announcement

The firm 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 dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s dividend payout ratio is currently 31.01%.

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.