Caterpillar Inc. $CAT Shares Bought by Portside Wealth Group LLC

Portside Wealth Group LLC lifted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 7.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,576 shares of the industrial products company’s stock after purchasing an additional 337 shares during the quarter. Portside Wealth Group LLC’s holdings in Caterpillar were worth $1,777,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Trivium Point Advisory LLC boosted its stake in shares of Caterpillar by 132.9% during the 2nd quarter. Trivium Point Advisory LLC now owns 1,926 shares of the industrial products company’s stock worth $748,000 after acquiring an additional 1,099 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Caterpillar by 9.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company’s stock worth $26,037,000 after purchasing an additional 7,125 shares during the last quarter. Palmer Knight Co purchased a new stake in Caterpillar during the second quarter worth $5,884,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in Caterpillar by 11.2% in the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,315 shares of the industrial products company’s stock valued at $5,557,000 after purchasing an additional 1,440 shares during the last quarter. Finally, Ransom Advisory Ltd purchased a new position in shares of Caterpillar in the first quarter valued at $427,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Down 0.6%

CAT stock opened at $550.87 on Tuesday. The company has a 50 day moving average price of $508.83 and a two-hundred day moving average price of $430.29. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.81 and a current ratio of 1.38. The stock has a market capitalization of $257.80 billion, a P/E ratio of 28.28, a PEG ratio of 3.33 and a beta of 1.51. Caterpillar Inc. has a one year low of $267.30 and a one year high of $596.21.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data 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. The business had revenue of $17.64 billion for the quarter, compared to analysts’ expectations of $16.72 billion. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The business’s revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the firm earned $5.17 earnings per share. As a group, sell-side analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Announces Dividend

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 issued a $1.51 dividend. The ex-dividend date is Monday, October 20th. This represents a $6.04 annualized dividend and a yield of 1.1%. Caterpillar’s payout ratio is 31.01%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CAT. Hsbc Global Res raised shares of Caterpillar from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. UBS Group increased their price target on shares of Caterpillar from $506.00 to $581.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. Barclays raised their price objective on shares of Caterpillar from $485.00 to $555.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 30th. DA Davidson increased their target price on Caterpillar from $408.00 to $569.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. Finally, HSBC raised Caterpillar from a “hold” rating to a “buy” rating and boosted their price target for the stock from $405.00 to $660.00 in a report on Wednesday, November 5th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $600.94.

Insider Activity at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 8,184 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $570.18, for a total transaction of $4,666,353.12. Following the transaction, the insider owned 41,512 shares of the company’s stock, valued at $23,669,312.16. This trade represents a 16.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,168 shares of Caterpillar stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the completion of the transaction, the chairman owned 482,505 shares in the company, valued at approximately $199,211,839.35. This trade represents a 3.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 86,229 shares of company stock worth $43,323,118. Corporate insiders own 0.33% of the company’s stock.

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.