Pinnacle Wealth Management Advisory Group LLC Has $2.78 Million Stock Position in Caterpillar Inc. $CAT

Pinnacle Wealth Management Advisory Group LLC lifted its stake in Caterpillar Inc. (NYSE:CAT) by 16.8% during the 2nd quarter, Holdings Channel reports. The firm owned 7,161 shares of the industrial products company’s stock after acquiring an additional 1,031 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Caterpillar were worth $2,780,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Aire Advisors LLC boosted its holdings in Caterpillar by 0.3% during the second quarter. Aire Advisors LLC now owns 9,042 shares of the industrial products company’s stock worth $3,510,000 after buying an additional 25 shares during the last quarter. Dumont & Blake Investment Advisors LLC increased its stake in shares of Caterpillar by 0.5% in the 2nd quarter. Dumont & Blake Investment Advisors LLC now owns 4,954 shares of the industrial products company’s stock valued at $1,923,000 after acquiring an additional 25 shares during the last quarter. Redwood Wealth Management Group LLC raised its position in shares of Caterpillar by 0.9% in the 2nd quarter. Redwood Wealth Management Group LLC now owns 2,669 shares of the industrial products company’s stock valued at $1,036,000 after acquiring an additional 25 shares during the period. Tsfg LLC boosted its stake in Caterpillar by 9.8% during the 2nd quarter. Tsfg LLC now owns 279 shares of the industrial products company’s stock worth $108,000 after acquiring an additional 25 shares during the last quarter. Finally, GSB Wealth Management LLC grew its holdings in Caterpillar by 1.2% during 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 period. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Down 1.2%

Caterpillar stock opened at $562.82 on Friday. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 1.34. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $596.21. The company has a fifty day simple moving average of $491.77 and a 200 day simple moving average of $418.73. The company has a market cap of $263.39 billion, a P/E ratio of 28.89, a price-to-earnings-growth ratio of 3.33 and a beta of 1.51.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $4.95 EPS for the quarter, topping analysts’ consensus estimates of $4.52 by $0.43. The company had revenue of $17.64 billion during the quarter, compared to the consensus estimate of $16.72 billion. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The company’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the business posted $5.17 EPS. Research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders 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 annualized dividend and a dividend yield of 1.1%. Caterpillar’s payout ratio is 31.01%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. UBS Group increased their target price on shares of Caterpillar from $506.00 to $581.00 and gave the stock a “neutral” rating in a report on Tuesday. Erste Group Bank upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Jefferies Financial Group raised their price objective on Caterpillar from $570.00 to $700.00 and gave the stock a “buy” rating in a research note on Wednesday. Robert W. Baird boosted their target price on Caterpillar from $612.00 to $680.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Finally, Barclays raised their price target on Caterpillar from $485.00 to $555.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 30th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $596.59.

Insider Activity at Caterpillar

In other news, Director Susan C. Schwab sold 2,324 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the completion of the sale, the director owned 6,917 shares of the company’s stock, valued at approximately $2,835,970. This represents a 25.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Donald J. Umpleby III sold 17,166 shares of the firm’s stock in a transaction on Friday, October 10th. The shares were sold at an average price of $505.29, for a total transaction of $8,673,808.14. Following the completion of the transaction, the chairman directly owned 448,173 shares of the company’s stock, valued at $226,457,335.17. This represents a 3.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 71,823 shares of company stock worth $34,477,790. Insiders own 0.33% of the company’s stock.

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.