Caterpillar Inc. (NYSE:CAT) Shares Acquired by Avitas Wealth Management LLC

Avitas Wealth Management LLC grew its holdings in Caterpillar Inc. (NYSE:CAT) by 0.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,308 shares of the industrial products company’s stock after purchasing an additional 45 shares during the quarter. Avitas Wealth Management LLC’s holdings in Caterpillar were worth $3,100,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Axxcess Wealth Management LLC grew its position in shares of Caterpillar by 20.0% in the fourth quarter. Axxcess Wealth Management LLC now owns 21,343 shares of the industrial products company’s stock valued at $6,310,000 after purchasing an additional 3,558 shares during the last quarter. Acadian Asset Management LLC boosted its position in Caterpillar by 17.2% during the first quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock worth $3,308,000 after acquiring an additional 1,327 shares during the last quarter. Catalyst Financial Partners LLC boosted its position in Caterpillar by 1.5% during the fourth quarter. Catalyst Financial Partners LLC now owns 4,295 shares of the industrial products company’s stock worth $1,270,000 after acquiring an additional 63 shares during the last quarter. Diversify Advisory Services LLC acquired a new stake in Caterpillar during the first quarter worth approximately $926,000. Finally, Aigen Investment Management LP acquired a new stake in Caterpillar during the fourth quarter worth approximately $222,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Performance

Shares of NYSE CAT traded up $6.05 during midday trading on Friday, hitting $348.41. The company’s stock had a trading volume of 2,181,027 shares, compared to its average volume of 2,706,098. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $382.01. The firm’s fifty day moving average price is $336.26 and its 200-day moving average price is $341.50. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.83 and a current ratio of 1.35. The firm has a market cap of $170.39 billion, a P/E ratio of 15.73, a P/E/G ratio of 1.72 and a beta of 1.12.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, beating the consensus estimate of $5.53 by $0.46. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. The business had revenue of $16.69 billion during the quarter, compared to analyst estimates of $16.91 billion. During the same period in the previous year, the business posted $5.55 EPS. The company’s quarterly revenue was down 3.6% on a year-over-year basis. On average, sell-side analysts forecast that Caterpillar Inc. will post 21.57 EPS for the current fiscal year.

Caterpillar announced that its board has approved a share repurchase program on Wednesday, June 12th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to purchase up to 12.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd were paid a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.62%. This is a positive change from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date was Monday, July 22nd. Caterpillar’s payout ratio is presently 25.46%.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Cheryl H. Johnson sold 1,508 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were 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 directly owns 18,515 shares of the company’s stock, valued at approximately $6,480,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Caterpillar news, insider Cheryl H. Johnson sold 1,508 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total transaction of $527,800.00. Following the sale, the insider now directly owns 18,515 shares in the company, valued at approximately $6,480,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Cheryl H. Johnson sold 2,975 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the sale, the insider now owns 15,615 shares in the company, valued at $5,347,825.20. The disclosure for this sale can be found here. Insiders sold 5,991 shares of company stock valued at $2,059,398 in the last ninety days. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CAT. TD Cowen raised their target price on shares of Caterpillar from $338.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Barclays raised their target price on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Raymond James started coverage on shares of Caterpillar in a research note on Friday, June 28th. They set a “market perform” rating on the stock. Evercore ISI cut their price target on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research note on Monday. Finally, HSBC increased their price target on shares of Caterpillar from $330.00 to $360.00 and gave the stock a “hold” rating in a research note on Tuesday, April 30th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $336.31.

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.