Caterpillar Inc. (NYSE:CAT) Shares Purchased by Fragasso Financial Advisors Inc

Fragasso Financial Advisors Inc boosted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 12.8% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 836 shares of the industrial products company’s stock after acquiring an additional 95 shares during the period. Fragasso Financial Advisors Inc’s holdings in Caterpillar were worth $278,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Partnership Wealth Management LLC acquired a new stake in Caterpillar in the 4th quarter worth about $26,000. Richardson Financial Services Inc. purchased a new stake in shares of Caterpillar during the fourth quarter worth approximately $27,000. Thompson Investment Management Inc. acquired a new position in Caterpillar in the 1st quarter valued at $27,000. Fairman Group LLC purchased a new position in Caterpillar in the 1st quarter valued at $29,000. Finally, Vima LLC acquired a new stake in Caterpillar during the 4th quarter worth $30,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Trading Up 3.0 %

NYSE CAT traded up $9.62 during trading hours on Tuesday, reaching $326.42. The company had a trading volume of 5,070,305 shares, compared to its average volume of 2,758,753. The company has a current ratio of 1.35, a quick ratio of 0.83 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $159.64 billion, a P/E ratio of 14.74, a price-to-earnings-growth ratio of 1.72 and a beta of 1.12. The stock has a 50-day moving average of $334.08 and a 200 day moving average of $338.25. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $382.01.

Caterpillar declared that its board has approved a stock buyback program on Wednesday, June 12th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the industrial products company to repurchase up to 12.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Caterpillar Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd will be issued a $1.41 dividend. This is a positive change from Caterpillar’s previous quarterly dividend of $1.30. This represents a $5.64 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend is Monday, July 22nd. Caterpillar’s dividend payout ratio is currently 25.46%.

Insider Activity at Caterpillar

In other Caterpillar news, insider Cheryl H. Johnson sold 1,508 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $350.00, for a total transaction of $527,800.00. Following the transaction, the insider now directly owns 18,515 shares in the company, valued at $6,480,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Lange Bob De sold 21,847 shares of Caterpillar stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $356.90, for a total value of $7,797,194.30. Following the completion of the transaction, the insider now owns 71,115 shares in the company, valued at $25,380,943.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Cheryl H. Johnson sold 1,508 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $350.00, for a total transaction of $527,800.00. Following the completion of the transaction, the insider now owns 18,515 shares of the company’s stock, valued at approximately $6,480,250. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,863 shares of company stock worth $8,837,714. Insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CAT. The Goldman Sachs Group increased their target price on shares of Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Oppenheimer reissued a “market perform” rating on shares of Caterpillar in a research note on Thursday, April 18th. Raymond James assumed coverage on Caterpillar in a research report on Friday, June 28th. They issued a “market perform” rating for the company. Citigroup assumed coverage on Caterpillar in a research report on Wednesday, June 26th. They set a “buy” rating and a $380.00 price objective on the stock. Finally, Stifel Nicolaus cut Caterpillar from a “buy” rating to a “hold” rating and upped their target price for the company from $293.00 to $350.00 in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $335.00.

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.