Howe & Rusling Inc. Purchases 285 Shares of Caterpillar Inc. $CAT

Howe & Rusling Inc. raised its position in shares of Caterpillar Inc. (NYSE:CAT) by 1.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,753 shares of the industrial products company’s stock after purchasing an additional 285 shares during the quarter. Howe & Rusling Inc.’s holdings in Caterpillar were worth $8,057,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CAT. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Caterpillar in the second quarter valued at about $28,000. Compass Financial Services Inc raised its stake in Caterpillar by 49.2% during the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 31 shares during the period. Family Legacy Financial Solutions LLC purchased a new position in Caterpillar in the 2nd quarter worth approximately $32,000. Harbor Asset Planning Inc. bought a new stake in shares of Caterpillar during the second quarter valued at approximately $34,000. Finally, Total Wealth Planning & Management Inc. purchased a new position in shares of Caterpillar in the second quarter worth $38,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Up 1.1%

Shares of NYSE CAT opened at $553.04 on Thursday. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $596.21. 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 business’s 50 day moving average is $514.01 and its two-hundred day moving average is $432.71. The stock has a market capitalization of $258.81 billion, a P/E ratio of 28.39, 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 EPS for the quarter, topping analysts’ consensus estimates of $4.52 by $0.43. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The firm had revenue of $17.64 billion during the quarter, compared to analysts’ expectations of $16.72 billion. During the same quarter in the previous year, the business earned $5.17 EPS. The company’s quarterly revenue was up 9.5% on a year-over-year basis. As a group, research analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be given a dividend of $1.51 per share. The ex-dividend date is Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a yield of 1.1%. Caterpillar’s payout ratio is 31.01%.

Insiders Place Their Bets

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 value of $6,034,465.20. Following the sale, the insider directly owned 8,649 shares of the company’s stock, valued at $4,874,576.40. This represents a 55.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $8,231,825.68. Following the completion of the sale, the insider directly owned 80,209 shares of the company’s stock, valued at approximately $45,106,333.24. The trade was a 15.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 86,229 shares of company stock valued at $43,323,118. 0.33% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have commented on the stock. Jefferies Financial Group boosted their price target on shares of Caterpillar from $570.00 to $700.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Royal Bank Of Canada began coverage on Caterpillar in a report on Wednesday, October 22nd. They issued a “sector perform” rating and a $560.00 target price on the stock. Morgan Stanley increased their price target on Caterpillar from $350.00 to $380.00 and gave the company an “underweight” rating in a research note on Thursday, October 30th. JPMorgan Chase & Co. raised their price target on Caterpillar from $650.00 to $730.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Caterpillar in a report on Monday. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Caterpillar presently has an average rating of “Moderate Buy” and a consensus price target of $610.32.

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.