Caterpillar Inc. $CAT Shares Sold by Aries Wealth Management

Aries Wealth Management reduced its stake in shares of Caterpillar Inc. (NYSE:CAT) by 0.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,892 shares of the industrial products company’s stock after selling 100 shares during the quarter. Caterpillar accounts for approximately 1.8% of Aries Wealth Management’s portfolio, making the stock its 11th largest holding. Aries Wealth Management’s holdings in Caterpillar were worth $6,946,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. GSB Wealth Management LLC grew its position in shares of Caterpillar by 1.2% in the second quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company’s stock valued at $832,000 after purchasing an additional 26 shares during the last quarter. Verum Partners LLC grew its position in shares of Caterpillar by 2.5% in the second quarter. Verum Partners LLC now owns 1,059 shares of the industrial products company’s stock valued at $411,000 after purchasing an additional 26 shares during the last quarter. Vanguard Capital Wealth Advisors grew its position in shares of Caterpillar by 0.8% in the second quarter. Vanguard Capital Wealth Advisors now owns 3,575 shares of the industrial products company’s stock valued at $1,388,000 after purchasing an additional 27 shares during the last quarter. InTrack Investment Management Inc grew its position in shares of Caterpillar by 0.6% in the second quarter. InTrack Investment Management Inc now owns 4,683 shares of the industrial products company’s stock valued at $1,818,000 after purchasing an additional 27 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Caterpillar by 2.4% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,216 shares of the industrial products company’s stock valued at $472,000 after purchasing an additional 29 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Chairman Donald J. Umpleby III sold 17,168 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total value of $7,088,152.16. Following the transaction, the chairman owned 482,505 shares of the company’s stock, valued at approximately $199,211,839.35. This trade represents a 3.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jason Kaiser sold 2,161 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider directly owned 8,632 shares in the company, valued at approximately $3,605,586.40. This represents a 20.02% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,985 shares of company stock valued at $25,559,300. Company insiders own 0.33% of the company’s stock.

Caterpillar Stock Performance

NYSE:CAT opened at $528.75 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. The company has a market cap of $247.71 billion, a P/E ratio of 26.89, a P/E/G ratio of 3.09 and a beta of 1.46. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $531.56. The firm’s 50 day moving average is $446.55 and its two-hundred day moving average is $386.71.

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

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s dividend payout ratio (DPR) is currently 30.72%.

Analyst Ratings Changes

CAT has been the topic of several recent analyst reports. Barclays upped their price objective on shares of Caterpillar from $383.00 to $425.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. Erste Group Bank raised shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Melius Research raised shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price objective on the stock in a research note on Wednesday, July 9th. Sanford C. Bernstein upped their price objective on shares of Caterpillar from $447.00 to $502.00 and gave the company a “market perform” rating in a research note on Tuesday. Finally, Melius raised shares of Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price objective on the stock in a research note on Wednesday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $501.47.

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.