TruWealth Advisors LLC Grows Stake in Caterpillar Inc. $CAT

by · The Markets Daily

TruWealth Advisors LLC increased its holdings in Caterpillar Inc. (NYSE:CAT – Free Report) by 62.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 44,173 shares of the industrial products company’s stock after acquiring an additional 16,959 shares during the quarter. TruWealth Advisors LLC’s holdings in Caterpillar were worth $21,077,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pacific Point Advisors LLC bought a new position in shares of Caterpillar in the fourth quarter worth approximately $579,000. Brighton Jones LLC grew its stake in Caterpillar by 51.5% in the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock worth $2,688,000 after buying an additional 2,519 shares in the last quarter. Brooklyn Investment Group increased its holdings in shares of Caterpillar by 24.7% in the 1st quarter. Brooklyn Investment Group now owns 3,582 shares of the industrial products company’s stock worth $1,181,000 after buying an additional 710 shares during the last quarter. Allen Wealth Management LLC raised its position in shares of Caterpillar by 0.8% during the 1st quarter. Allen Wealth Management LLC now owns 4,010 shares of the industrial products company’s stock valued at $1,322,000 after buying an additional 30 shares in the last quarter. Finally, Aptus Capital Advisors LLC lifted its holdings in shares of Caterpillar by 12.5% during the 1st quarter. Aptus Capital Advisors LLC now owns 108,134 shares of the industrial products company’s stock worth $35,663,000 after acquiring an additional 12,025 shares during the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Lange Bob De sold 14,638 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $562.36, for a total transaction of $8,231,825.68. Following the completion of the transaction, the insider owned 80,209 shares of the company’s stock, valued at approximately $45,106,333.24. This trade represents a 15.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $571.44, for a total transaction of $5,714,400.00. Following the completion of the transaction, the chief financial officer owned 55,460 shares of the company’s stock, valued at approximately $31,692,062.40. The trade was a 15.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 79,061 shares of company stock valued at $41,949,366 over the last three months. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Stock Down 1.3%

Shares of NYSE CAT opened at $590.11 on Tuesday. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $627.50. The firm has a fifty day simple moving average of $556.52 and a two-hundred day simple moving average of $464.04. The company has a current ratio of 1.38, a quick ratio of 0.86 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $276.16 billion, a PE ratio of 30.29, a price-to-earnings-growth ratio of 2.82 and a beta of 1.57.

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

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Tuesday, January 20th will be paid a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, January 20th. Caterpillar’s dividend payout ratio (DPR) is presently 31.01%.

Wall Street Analyst Weigh In

CAT has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their target price on Caterpillar from $650.00 to $730.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Erste Group Bank raised Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Argus upped their target price on Caterpillar from $460.00 to $625.00 and gave the stock a “buy” rating in a research note on Wednesday, November 19th. Citigroup upgraded shares of Caterpillar from a “buy” rating to a “mixed” rating in a research report on Tuesday. Finally, Royal Bank Of Canada started coverage on shares of Caterpillar in a report on Wednesday, October 22nd. They issued a “sector perform” rating and a $560.00 price objective for the company. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Caterpillar has an average rating of “Moderate Buy” and a consensus target price of $612.16.

Get Our Latest Stock Report on Caterpillar

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.

See Also

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