New World Advisors LLC Takes $258,000 Position in Caterpillar Inc. $CAT

New World Advisors LLC acquired a new position in shares of Caterpillar Inc. (NYSE:CAT) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 664 shares of the industrial products company’s stock, valued at approximately $258,000.

Several other institutional investors also recently made changes to their positions in CAT. Aire Advisors LLC boosted its position in Caterpillar by 0.3% during the 2nd quarter. Aire Advisors LLC now owns 9,042 shares of the industrial products company’s stock valued at $3,510,000 after purchasing an additional 25 shares during the period. Dumont & Blake Investment Advisors LLC boosted its holdings in shares of Caterpillar by 0.5% during the second quarter. Dumont & Blake Investment Advisors LLC now owns 4,954 shares of the industrial products company’s stock valued at $1,923,000 after acquiring an additional 25 shares during the period. Redwood Wealth Management Group LLC increased its holdings in shares of Caterpillar by 0.9% in the 2nd quarter. Redwood Wealth Management Group LLC now owns 2,669 shares of the industrial products company’s stock worth $1,036,000 after acquiring an additional 25 shares during the period. Tsfg LLC lifted its position in Caterpillar by 9.8% in the 2nd quarter. Tsfg LLC now owns 279 shares of the industrial products company’s stock valued at $108,000 after purchasing an additional 25 shares during the last quarter. Finally, GSB Wealth Management LLC grew its position in Caterpillar by 1.2% in the 2nd quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company’s stock worth $832,000 after purchasing an additional 26 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

Caterpillar Stock Performance

Shares of CAT opened at $550.74 on Friday. Caterpillar Inc. has a one year low of $267.30 and a one year high of $596.21. The company has a 50-day moving average of $518.69 and a two-hundred day moving average of $435.07. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.38 and a quick ratio of 0.81. The stock has a market cap of $257.74 billion, a price-to-earnings ratio of 28.27, a PEG ratio of 3.33 and a beta of 1.51.

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. The company had revenue of $17.64 billion for the quarter, compared to the consensus estimate 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 period in the previous year, the business earned $5.17 EPS. On average, equities research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, October 20th were issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Monday, October 20th. Caterpillar’s payout ratio is currently 31.01%.

Wall Street Analyst Weigh In

CAT has been the subject of several analyst reports. Citigroup boosted their price objective on Caterpillar from $570.00 to $670.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. DA Davidson lifted their price objective on shares of Caterpillar from $408.00 to $569.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. HSBC raised shares of Caterpillar from a “hold” rating to a “buy” rating and raised their target price for the company from $405.00 to $660.00 in a research note on Wednesday, November 5th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Caterpillar in a report on Wednesday, November 5th. Finally, Hsbc Global Res raised Caterpillar from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $610.32.

Insiders Place Their Bets

In other news, Chairman Donald J. Umpleby III sold 17,168 shares of Caterpillar stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the completion of the sale, the chairman directly owned 482,505 shares in the company, valued at $199,211,839.35. The trade was a 3.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO William E. Schaupp sold 1,200 shares of the business’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 completion of the sale, the chief accounting officer directly owned 1,323 shares of the company’s stock, valued at approximately $757,047.06. The trade was a 47.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 86,229 shares of company stock valued at $43,323,118 in the last three months. Company insiders own 0.33% of the company’s stock.

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.