RWA Wealth Partners LLC Cuts Stock Position in Caterpillar Inc. $CAT

RWA Wealth Partners LLC cut its position in Caterpillar Inc. (NYSE:CAT) by 6.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 89,179 shares of the industrial products company’s stock after selling 6,420 shares during the quarter. RWA Wealth Partners LLC’s holdings in Caterpillar were worth $34,620,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CAT. Valeo Financial Advisors LLC lifted its position in Caterpillar by 36,842.1% during the second quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock valued at $2,833,836,000 after acquiring an additional 7,279,991 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Caterpillar by 2,723.1% in the first quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company’s stock worth $466,430,000 after purchasing an additional 1,364,183 shares during the last quarter. Nuveen LLC acquired a new position in shares of Caterpillar during the first quarter worth $391,788,000. Assenagon Asset Management S.A. lifted its holdings in shares of Caterpillar by 546.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 843,093 shares of the industrial products company’s stock valued at $327,297,000 after purchasing an additional 712,711 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Caterpillar by 9.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company’s stock worth $1,064,951,000 after purchasing an additional 268,300 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Stock Down 1.2%

Caterpillar stock opened at $562.82 on Friday. The business’s 50-day moving average price is $491.77 and its 200 day moving average price is $417.84. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 1.34. The firm has a market cap of $263.39 billion, a price-to-earnings ratio of 28.89, a price-to-earnings-growth 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.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $4.95 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 quarter in the prior year, the firm posted $5.17 EPS. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The firm also recently disclosed 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 dividend payout ratio (DPR) is presently 31.01%.

Insiders Place Their Bets

In related news, Director Susan C. Schwab sold 2,324 shares of the business’s 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 sale, the director directly owned 6,917 shares in the company, valued at approximately $2,835,970. The trade was a 25.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Donald J. Umpleby III sold 17,166 shares of the stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $505.29, for a total transaction of $8,673,808.14. Following the completion of the sale, the chairman owned 448,173 shares of the company’s stock, valued at $226,457,335.17. This trade represents a 3.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 71,823 shares of company stock valued at $34,477,790. 0.33% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CAT has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their target price on Caterpillar from $650.00 to $730.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Erste Group Bank raised shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. UBS Group raised their price target on shares of Caterpillar from $506.00 to $581.00 and gave the stock a “neutral” rating in a report on Tuesday. Sanford C. Bernstein reiterated a “market perform” rating on shares of Caterpillar in a research note on Wednesday. Finally, Truist Financial reissued 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. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $588.94.

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.