Drive Wealth Management LLC Sells 136 Shares of Caterpillar Inc. $CAT

Drive Wealth Management LLC trimmed its position in shares of Caterpillar Inc. (NYSE:CAT) by 2.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,884 shares of the industrial products company’s stock after selling 136 shares during the quarter. Drive Wealth Management LLC’s holdings in Caterpillar were worth $2,284,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Compass Financial Services Inc raised its holdings in shares of Caterpillar by 49.2% during the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 31 shares during the period. Family Legacy Financial Solutions LLC acquired a new stake in shares of Caterpillar during the second quarter worth $32,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Caterpillar during the first quarter worth $33,000. Harbor Asset Planning Inc. acquired a new stake in shares of Caterpillar during the second quarter worth $34,000. Finally, Total Wealth Planning & Management Inc. acquired a new stake in shares of Caterpillar during the second quarter worth $38,000. 70.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Evercore ISI upgraded shares of Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price objective on the stock in a report on Tuesday, August 19th. Erste Group Bank upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Jefferies Financial Group raised their price objective on shares of Caterpillar from $500.00 to $570.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Caterpillar in a research note on Tuesday, October 14th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Caterpillar from $505.00 to $650.00 and gave the company an “overweight” rating in a research note on Tuesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $510.60.

Caterpillar Stock Performance

Shares of CAT opened at $527.41 on Monday. The firm has a 50-day moving average of $453.38 and a 200-day moving average of $391.52. Caterpillar Inc. has a one year low of $267.30 and a one year high of $544.99. The company has a market cap of $247.08 billion, a PE ratio of 26.83, a price-to-earnings-growth ratio of 3.00 and a beta of 1.46. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81.

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

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be given a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s dividend payout ratio (DPR) is 30.72%.

Insider Activity

In other news, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of the transaction, the insider owned 8,632 shares of the company’s stock, valued at $3,605,586.40. This trade represents a 20.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Donald J. Umpleby III sold 17,168 shares of Caterpillar stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the completion of the transaction, the chairman directly owned 482,505 shares of the company’s stock, valued at approximately $199,211,839.35. This trade represents a 3.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,985 shares of company stock valued at $25,559,300 in the last quarter. Company insiders own 0.33% of the company’s stock.

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.