Caterpillar Inc. $CAT Shares Purchased by Soltis Investment Advisors LLC

by · The Cerbat Gem

Soltis Investment Advisors LLC increased its position in shares of Caterpillar Inc. (NYSE:CAT – Free Report) by 29.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,043 shares of the industrial products company’s stock after purchasing an additional 465 shares during the period. Soltis Investment Advisors LLC’s holdings in Caterpillar were worth $793,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Mid American Wealth Advisory Group Inc. acquired a new position in Caterpillar in the second quarter valued at approximately $28,000. Compass Financial Services Inc raised its position in Caterpillar by 49.2% in the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 31 shares during the period. Family Legacy Financial Solutions LLC acquired a new position in shares of Caterpillar in the 2nd quarter valued at $32,000. Harbor Asset Planning Inc. acquired a new stake in shares of Caterpillar during the 2nd quarter worth about $34,000. Finally, Total Wealth Planning & Management Inc. purchased a new stake in Caterpillar in the 2nd quarter valued at about $38,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on CAT. Royal Bank Of Canada initiated coverage on shares of Caterpillar in a research note on Wednesday, October 22nd. They set a “sector perform” rating and a $560.00 target price for the company. HSBC raised shares of Caterpillar from a “hold” rating to a “buy” rating and increased their price objective for the stock from $405.00 to $660.00 in a research report on Wednesday. JPMorgan Chase & Co. raised their price target on Caterpillar from $650.00 to $730.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Bank of America increased their target price on Caterpillar from $594.00 to $650.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Finally, Robert W. Baird lifted their target price on Caterpillar from $612.00 to $680.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $588.94.

Get Our Latest Stock Analysis on CAT

Caterpillar Trading Up 0.1%

CAT opened at $569.51 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.81 and a current ratio of 1.38. Caterpillar Inc. has a one year low of $267.30 and a one year high of $596.21. The company has a market cap of $266.80 billion, a P/E ratio of 29.24, a PEG ratio of 3.33 and a beta of 1.51. The business’s 50-day simple moving average is $488.91 and its 200-day simple moving average is $415.91.

Caterpillar (NYSE:CAT – Get Free Report) last announced its quarterly 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. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The firm had revenue of $17.64 billion during the quarter, compared to the consensus estimate of $16.72 billion. During the same period in the prior year, the company posted $5.17 earnings per share. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. As a group, equities research analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Dividend Announcement

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

Insider Activity at Caterpillar

In related news, CAO William E. Schaupp sold 1,200 shares of the company’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $572.22, for a total value of $686,664.00. Following the completion of the sale, the chief accounting officer owned 1,323 shares in the company, valued at $757,047.06. This represents a 47.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the sale, the chairman owned 482,505 shares of the company’s stock, valued at approximately $199,211,839.35. This represents a 3.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 57,185 shares of company stock valued at $26,245,964 over the last 90 days. 0.33% of the stock is owned by insiders.

Caterpillar Company Profile

(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.

Further Reading

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