49 Wealth Management LLC Acquires 250 Shares of Caterpillar Inc. (NYSE:CAT)

49 Wealth Management LLC increased its stake in Caterpillar Inc. (NYSE:CAT) by 33.9% in the third quarter, HoldingsChannel reports. The fund owned 988 shares of the industrial products company’s stock after purchasing an additional 250 shares during the period. 49 Wealth Management LLC’s holdings in Caterpillar were worth $387,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CAT. Charles Schwab Investment Management Inc. raised its holdings in shares of Caterpillar by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,227,378 shares of the industrial products company’s stock valued at $1,262,290,000 after acquiring an additional 8,088 shares in the last quarter. Banco Santander S.A. grew its position in Caterpillar by 27.8% during the 3rd quarter. Banco Santander S.A. now owns 91,707 shares of the industrial products company’s stock valued at $35,868,000 after purchasing an additional 19,942 shares during the last quarter. Pacer Advisors Inc. lifted its position in Caterpillar by 1.8% in the 3rd quarter. Pacer Advisors Inc. now owns 45,930 shares of the industrial products company’s stock valued at $17,964,000 after acquiring an additional 824 shares in the last quarter. Integrated Investment Consultants LLC grew its stake in shares of Caterpillar by 1,120.6% in the third quarter. Integrated Investment Consultants LLC now owns 18,187 shares of the industrial products company’s stock worth $7,113,000 after acquiring an additional 16,697 shares during the period. Finally, Thompson Siegel & Walmsley LLC raised its stake in Caterpillar by 1.0% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 6,344 shares of the industrial products company’s stock valued at $2,481,000 after buying an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Activity

In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the sale, the insider now owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. This trade represents a 8.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gerald Johnson acquired 100 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were bought at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the purchase, the director now directly owns 2,842 shares in the company, valued at $962,272.78. The trade was a 3.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 20,774 shares of company stock worth $8,233,034. Company insiders own 0.29% of the company’s stock.

Caterpillar Stock Up 2.3 %

NYSE:CAT opened at $390.26 on Friday. The stock has a fifty day simple moving average of $385.77 and a 200-day simple moving average of $355.46. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. The company has a market cap of $188.42 billion, a price-to-earnings ratio of 18.09, a price-to-earnings-growth ratio of 1.89 and a beta of 1.10. Caterpillar Inc. has a twelve month low of $241.81 and a twelve month high of $418.50.

Caterpillar (NYSE:CAT) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The company had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. During the same quarter in the prior year, the company earned $5.52 earnings per share. Caterpillar’s revenue was down 4.2% on a year-over-year basis. Analysts anticipate that Caterpillar Inc. will post 21.68 EPS for the current year.

Caterpillar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st were issued a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Monday, October 21st. Caterpillar’s dividend payout ratio is 26.15%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Barclays increased their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. Evercore ISI downgraded Caterpillar from an “in-line” rating to an “underperform” rating and boosted their price objective for the company from $321.00 to $365.00 in a research report on Wednesday, November 13th. Morgan Stanley downgraded shares of Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $349.00 to $332.00 in a report on Monday, October 14th. Robert W. Baird increased their price objective on shares of Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. Finally, UBS Group boosted their target price on Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a research report on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Caterpillar has an average rating of “Hold” and an average target price of $365.33.

Caterpillar 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.