SVB Wealth LLC Invests $1.33 Million in Caterpillar Inc. $CAT

SVB Wealth LLC purchased a new position in shares of Caterpillar Inc. (NYSE:CAT) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,420 shares of the industrial products company’s stock, valued at approximately $1,328,000.

A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank bought a new stake in Caterpillar in the second quarter valued at about $2,165,899,000. Groupe la Francaise increased its stake in shares of Caterpillar by 82.0% in the 2nd quarter. Groupe la Francaise now owns 27,246 shares of the industrial products company’s stock valued at $10,820,000 after acquiring an additional 12,278 shares during the last quarter. Trivium Point Advisory LLC raised its position 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 valued at $748,000 after acquiring an additional 1,099 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Caterpillar by 9.9% during 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 acquiring an additional 7,125 shares during the last quarter. Finally, Palmer Knight Co acquired a new position in Caterpillar during the second quarter valued at approximately $5,884,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Activity at Caterpillar

In other Caterpillar news, insider Jason Kaiser sold 10,707 shares of the company’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $563.60, for a total value of $6,034,465.20. Following the completion of the transaction, the insider owned 8,649 shares of the company’s stock, valued at $4,874,576.40. This represents a 55.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David Maclennan purchased 300 shares of the firm’s stock in a transaction on Thursday, November 6th. The stock was acquired at an average price of $568.86 per share, with a total value of $170,658.00. Following the completion of the transaction, the director owned 7,947 shares in the company, valued at approximately $4,520,730.42. This trade represents a 3.92% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 79,061 shares of company stock worth $41,949,366 over the last 90 days. 0.33% of the stock is currently owned by company insiders.

Caterpillar Stock Down 1.2%

Shares of CAT opened at $595.99 on Tuesday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.86 and a current ratio of 1.38. The firm has a market cap of $278.91 billion, a P/E ratio of 30.59, a price-to-earnings-growth ratio of 2.84 and a beta of 1.57. The firm’s 50-day simple moving average is $544.93 and its 200 day simple moving average is $455.00. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $607.00.

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

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, October 20th were issued a $1.51 dividend. The ex-dividend date of this dividend was Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.0%. Caterpillar’s dividend payout ratio is 31.01%.

Wall Street Analysts Forecast Growth

CAT has been the subject of several research analyst reports. Wells Fargo & Company began coverage on shares of Caterpillar in a report on Thursday, November 13th. They issued an “overweight” rating and a $675.00 price target for the company. HSBC raised Caterpillar from a “hold” rating to a “buy” rating and increased their target price for the stock from $405.00 to $660.00 in a research note on Wednesday, November 5th. Citigroup lifted their price target on shares of Caterpillar from $570.00 to $670.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Weiss Ratings restated a “buy (b)” rating on shares of Caterpillar in a report on Monday, December 1st. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Caterpillar in a research note on Wednesday, November 5th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $610.32.

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.