Pathway Financial Advisors LLC Has $1.05 Million Stake in Caterpillar Inc. $CAT

Pathway Financial Advisors LLC trimmed its stake in Caterpillar Inc. (NYSE:CAT) by 23.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,700 shares of the industrial products company’s stock after selling 823 shares during the period. Pathway Financial Advisors LLC’s holdings in Caterpillar were worth $1,048,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of CAT. Pacific Point Advisors LLC acquired a new stake in Caterpillar in the 4th quarter worth $579,000. Brighton Jones LLC lifted its holdings in shares of Caterpillar by 51.5% during the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock worth $2,688,000 after acquiring an additional 2,519 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Caterpillar by 32.0% during the 1st quarter. GAMMA Investing LLC now owns 11,311 shares of the industrial products company’s stock worth $3,730,000 after acquiring an additional 2,745 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Caterpillar by 18.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 191,640 shares of the industrial products company’s stock worth $63,202,000 after acquiring an additional 30,070 shares during the period. Finally, Grant Private Wealth Management Inc lifted its holdings in shares of Caterpillar by 46.2% during the 1st quarter. Grant Private Wealth Management Inc now owns 1,224 shares of the industrial products company’s stock worth $404,000 after acquiring an additional 387 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Trading Down 1.7%

Shares of NYSE CAT opened at $491.67 on Monday. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $511.50. The company has a market cap of $230.34 billion, a PE ratio of 25.01, a P/E/G ratio of 3.01 and a beta of 1.46. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. The company has a 50-day moving average of $443.23 and a two-hundred day moving average of $384.49.

Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing analysts’ consensus estimates of $4.88 by ($0.16). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The company had revenue of $16.57 billion during the quarter, compared to the consensus estimate of $16.14 billion. During the same period in the prior year, the firm posted $5.99 earnings per share. The company’s revenue was down .7% on a year-over-year basis. As a group, equities analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently declared 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 1.2%. Caterpillar’s payout ratio is currently 30.72%.

Insider Transactions at Caterpillar

In other news, Chairman Donald J. Umpleby III sold 17,166 shares of Caterpillar stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $462.65, for a total transaction of $7,941,849.90. Following the completion of the sale, the chairman owned 465,339 shares in the company, valued at $215,289,088.35. The trade was a 3.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jason Kaiser sold 2,161 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the transaction, the insider owned 8,632 shares of the company’s stock, valued at approximately $3,605,586.40. This represents a 20.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,819 shares of company stock worth $16,885,492 in the last quarter. 0.33% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CAT shares. Truist Financial raised their price objective on shares of Caterpillar from $507.00 to $582.00 and gave the stock a “buy” rating in a report on Wednesday. Barclays raised their price objective on shares of Caterpillar from $383.00 to $425.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. Evercore ISI raised shares of Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price objective for the company in a report on Tuesday, August 19th. Melius raised shares of Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price target for the company in a report on Wednesday, July 9th. Finally, Oppenheimer lifted their price target on shares of Caterpillar from $480.00 to $513.00 and gave the company an “outperform” rating in a report on Monday, September 29th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $478.20.

About Caterpillar

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.