Beaird Harris Wealth Management LLC Has $207,000 Position in Caterpillar Inc. (NYSE:CAT)

Beaird Harris Wealth Management LLC cut its holdings in Caterpillar Inc. (NYSE:CAT) by 9.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 529 shares of the industrial products company’s stock after selling 54 shares during the quarter. Beaird Harris Wealth Management LLC’s holdings in Caterpillar were worth $207,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CAT. Alpha Cubed Investments LLC boosted its holdings in Caterpillar by 5.6% in the third quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock worth $45,591,000 after purchasing an additional 6,212 shares in the last quarter. Citizens Financial Group Inc. RI increased its holdings in shares of Caterpillar by 43.0% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 13,902 shares of the industrial products company’s stock valued at $5,437,000 after acquiring an additional 4,181 shares during the last quarter. First Affirmative Financial Network bought a new position in shares of Caterpillar in the 3rd quarter valued at approximately $204,000. Inspire Advisors LLC lifted its holdings in Caterpillar by 25.8% in the 3rd quarter. Inspire Advisors LLC now owns 8,266 shares of the industrial products company’s stock worth $3,233,000 after purchasing an additional 1,694 shares during the last quarter. Finally, Jackson Square Capital LLC boosted its position in Caterpillar by 33.7% during the third quarter. Jackson Square Capital LLC now owns 16,581 shares of the industrial products company’s stock worth $6,485,000 after purchasing an additional 4,182 shares during the period. 70.98% of the stock is owned by institutional investors.

Caterpillar Stock Performance

Shares of NYSE:CAT opened at $380.68 on Friday. The stock has a market capitalization of $183.79 billion, a price-to-earnings ratio of 17.65, a price-to-earnings-growth ratio of 1.92 and a beta of 1.10. The business’s fifty day moving average price is $392.83 and its two-hundred day moving average price is $360.00. Caterpillar Inc. has a fifty-two week low of $259.28 and a fifty-two week high of $418.50. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86.

Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The firm had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter last year, the business earned $5.52 EPS. As a group, analysts predict that Caterpillar Inc. will post 21.68 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st will be issued a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Tuesday, January 21st. Caterpillar’s payout ratio is currently 26.15%.

Insider Buying and Selling

In other Caterpillar news, CAO William E. Schaupp sold 968 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $380.98, for a total transaction of $368,788.64. Following the sale, the chief accounting officer now owns 1,686 shares of the company’s stock, valued at $642,332.28. This represents a 36.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel M. Dickinson sold 1,300 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $418.00, for a total transaction of $543,400.00. Following the transaction, the director now owns 4,976 shares in the company, valued at $2,079,968. The trade was a 20.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,868 shares of company stock worth $9,679,489 in the last three months. Insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CAT. Morgan Stanley cut shares of Caterpillar from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $349.00 to $332.00 in a research note on Monday, October 14th. Evercore ISI downgraded Caterpillar from an “in-line” rating to an “underperform” rating and raised their price target for the company from $321.00 to $365.00 in a research report on Wednesday, November 13th. Citigroup boosted their price objective on Caterpillar from $435.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday. JPMorgan Chase & Co. lifted their price target on Caterpillar from $500.00 to $515.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Jefferies Financial Group raised their price objective on shares of Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $374.69.

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.