Purus Wealth Management LLC Raises Stock Holdings in Caterpillar Inc. $CAT

by · The Markets Daily

Purus Wealth Management LLC raised its holdings in Caterpillar Inc. (NYSE:CAT – Free Report) by 133.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,039 shares of the industrial products company’s stock after purchasing an additional 1,737 shares during the quarter. Purus Wealth Management LLC’s holdings in Caterpillar were worth $1,180,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in the stock. 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of 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 valued at $26,037,000 after buying an additional 7,125 shares during the last quarter. Palmer Knight Co purchased a new stake in Caterpillar in the 2nd quarter worth about $5,884,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in 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 valued at $5,557,000 after acquiring an additional 1,440 shares during the period. Finally, Ransom Advisory Ltd purchased a new stake in Caterpillar during the first quarter valued at about $427,000. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

Caterpillar stock opened at $550.87 on Tuesday. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $596.21. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.81 and a current ratio of 1.38. The stock has a market cap of $257.80 billion, a P/E ratio of 28.28, a price-to-earnings-growth ratio of 3.33 and a beta of 1.51. The firm’s fifty day moving average price is $508.83 and its 200-day moving average price is $430.29.

Caterpillar (NYSE:CAT – Get Free Report) last announced its earnings results on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.52 by $0.43. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The company had revenue of $17.64 billion during the quarter, compared to analyst estimates of $16.72 billion. During the same period in the previous year, the business earned $5.17 earnings per share. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. On average, equities research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be given a dividend of $1.51 per share. The ex-dividend date is Monday, October 20th. This represents a $6.04 annualized dividend and a dividend yield of 1.1%. Caterpillar’s dividend payout ratio is 31.01%.

Insider Buying and Selling

In other news, Director David Maclennan bought 300 shares of the business’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 purchase, the director directly owned 7,947 shares in the company, valued at $4,520,730.42. This represents a 3.92% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO William E. Schaupp sold 1,200 shares of the stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $572.22, for a total transaction of $686,664.00. Following the transaction, the chief accounting officer owned 1,323 shares in the company, valued at $757,047.06. The trade was a 47.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 86,229 shares of company stock worth $43,323,118 over the last ninety days. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on CAT. Hsbc Global Res raised shares of Caterpillar from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. Morgan Stanley lifted their price target on Caterpillar from $350.00 to $380.00 and gave the company an “underweight” rating in a research report on Thursday, October 30th. Citigroup upped their price target on Caterpillar from $570.00 to $670.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Erste Group Bank upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Finally, Bank of America upped their price target on shares of Caterpillar from $594.00 to $650.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $600.94.

Read Our Latest Report on CAT

About Caterpillar

(Free Report)

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.

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