Yarger Wealth Strategies LLC Makes New $244,000 Investment in Caterpillar Inc. $CAT

Yarger Wealth Strategies LLC purchased a new position in shares of Caterpillar Inc. (NYSE:CAT) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 628 shares of the industrial products company’s stock, valued at approximately $244,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Trivium Point Advisory LLC raised its holdings in shares of Caterpillar by 132.9% in the 2nd quarter. Trivium Point Advisory LLC now owns 1,926 shares of the industrial products company’s stock worth $748,000 after purchasing an additional 1,099 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Caterpillar by 9.9% in the 1st 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 in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of Caterpillar by 11.2% in the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,315 shares of the industrial products company’s stock worth $5,557,000 after purchasing an additional 1,440 shares in the last quarter. Ransom Advisory Ltd bought a new stake in shares of Caterpillar in the 1st quarter worth approximately $427,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Caterpillar by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company’s stock worth $1,089,798,000 after purchasing an additional 15,347 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Stock Down 1.7%

CAT stock opened at $491.67 on Monday. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $511.50. The company’s 50 day simple moving average is $443.23 and its 200-day simple moving average is $384.49. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. The firm has a market capitalization of $230.34 billion, a P/E ratio of 25.01, a P/E/G ratio of 3.01 and a beta of 1.46.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing analysts’ consensus estimates of $4.88 by ($0.16). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The company had revenue of $16.57 billion for the quarter, compared to analysts’ expectations of $16.14 billion. During the same period in the previous year, the firm posted $5.99 earnings per share. The business’s revenue for the quarter was down .7% on a year-over-year basis. As a group, equities research analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be given a dividend of $1.51 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a yield of 1.2%. Caterpillar’s payout ratio is presently 30.72%.

Analyst Ratings Changes

A number of research firms recently commented on CAT. Citigroup boosted their target price on shares of Caterpillar from $540.00 to $570.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Melius upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 target price on the stock in a report on Wednesday, July 9th. Bank of America boosted their target price on shares of Caterpillar from $495.00 to $517.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Caterpillar in a report on Saturday, September 27th. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of Caterpillar in a report on Monday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $478.20.

Insider Activity at Caterpillar

In related news, insider Jason Kaiser sold 2,161 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the transaction, the insider directly owned 8,632 shares of the company’s stock, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the business’s stock in a transaction that occurred 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 transaction, the chairman directly owned 482,505 shares in the company, valued at $199,211,839.35. The trade was a 3.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,819 shares of company stock valued at $16,885,492. Corporate insiders own 0.33% of the company’s stock.

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.