Partners Wealth Management LLC Purchases New Stake in Caterpillar Inc. (NYSE:CAT)

Partners Wealth Management LLC purchased a new stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 970 shares of the industrial products company's stock, valued at approximately $352,000.

Several other large investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in Caterpillar in the 3rd quarter worth approximately $36,000. Retirement Wealth Solutions LLC acquired a new position in Caterpillar during the 4th quarter worth $34,000. Kimelman & Baird LLC raised its stake in shares of Caterpillar by 42.9% during the third quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 30 shares in the last quarter. Albion Financial Group UT grew its position in Caterpillar by 334.8% in the 4th quarter. Albion Financial Group UT now owns 100 shares of the industrial products company's stock valued at $36,000 after buying an additional 77 shares in the last quarter. Finally, Trivant Custom Portfolio Group LLC increased its stake in Caterpillar by 130.0% during the 4th quarter. Trivant Custom Portfolio Group LLC now owns 115 shares of the industrial products company's stock valued at $42,000 after buying an additional 65 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Trading Down 0.6 %

Shares of CAT stock traded down $1.91 during trading hours on Thursday, reaching $340.68. 1,969,152 shares of the stock traded hands, compared to its average volume of 2,431,130. The business has a fifty day moving average price of $366.82 and a 200 day moving average price of $372.88. Caterpillar Inc. has a 1-year low of $307.05 and a 1-year high of $418.50. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $162.82 billion, a PE ratio of 15.44, a PEG ratio of 1.87 and a beta of 1.12.

Remove Ads

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. On average, equities research analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Tuesday, January 21st were issued a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend was Tuesday, January 21st. Caterpillar's dividend payout ratio is currently 25.56%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Citigroup increased their price objective on shares of Caterpillar from $420.00 to $430.00 and gave the company a "buy" rating in a report on Friday, January 31st. DA Davidson increased their price target on Caterpillar from $350.00 to $357.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. Wedbush raised Caterpillar to an "outperform" rating in a research note on Monday, February 3rd. Morgan Stanley decreased their target price on Caterpillar from $330.00 to $300.00 and set an "underweight" rating for the company in a research note on Friday, January 31st. Finally, Evercore ISI boosted their price target on shares of Caterpillar from $365.00 to $375.00 and gave the stock an "in-line" rating in a research report on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Caterpillar presently has an average rating of "Hold" and a consensus price target of $383.80.

Insider Activity at Caterpillar

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the business's stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $380.09, for a total value of $3,800,900.00. Following the transaction, the chief financial officer now owns 45,182 shares in the company, valued at $17,173,226.38. The trade was a 18.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Anthony D. Fassino sold 6,279 shares of the firm's stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $408.59, for a total value of $2,565,536.61. Following the sale, the insider now directly owns 33,565 shares of the company's stock, valued at $13,714,323.35. This trade represents a 15.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,704 shares of company stock valued at $7,226,584. Corporate insiders own 0.29% 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.