Wrapmanager Inc. Lowers Stake in Caterpillar Inc. $CAT

Wrapmanager Inc. lessened its stake in shares of Caterpillar Inc. (NYSE:CAT) by 16.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,000 shares of the industrial products company’s stock after selling 590 shares during the quarter. Wrapmanager Inc.’s holdings in Caterpillar were worth $1,165,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Trivium Point Advisory LLC lifted its holdings in shares of Caterpillar by 132.9% during the 2nd quarter. Trivium Point Advisory LLC now owns 1,926 shares of the industrial products company’s stock valued at $748,000 after purchasing an additional 1,099 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Caterpillar by 9.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company’s stock worth $26,037,000 after buying an additional 7,125 shares during the last quarter. Palmer Knight Co acquired a new position in Caterpillar during the 2nd quarter valued at about $5,884,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in Caterpillar by 11.2% in the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,315 shares of the industrial products company’s stock valued at $5,557,000 after buying an additional 1,440 shares during the last quarter. Finally, Ransom Advisory Ltd acquired a new stake in Caterpillar in the first quarter worth about $427,000. 70.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CAT shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Caterpillar in a research report on Tuesday. Royal Bank Of Canada began coverage on shares of Caterpillar in a research note on Wednesday, October 22nd. They set a “sector perform” rating and a $560.00 price target on the stock. Sanford C. Bernstein reiterated a “market perform” rating on shares of Caterpillar in a research note on Wednesday, November 5th. Oppenheimer upped their target price on Caterpillar from $513.00 to $645.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Finally, Erste Group Bank raised Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $600.94.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 8,184 shares of the stock in a transaction on Monday, November 10th. The shares were sold at an average price of $570.18, for a total transaction of $4,666,353.12. Following the transaction, the insider directly owned 41,512 shares of the company’s stock, valued at $23,669,312.16. This trade represents a 16.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO William E. Schaupp sold 1,200 shares of Caterpillar stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $572.22, for a total transaction of $686,664.00. Following the completion of the sale, the chief accounting officer owned 1,323 shares in the company, valued at approximately $757,047.06. This trade represents a 47.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 86,229 shares of company stock worth $43,323,118. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Stock Performance

Shares of NYSE CAT opened at $553.61 on Friday. The company has a market capitalization of $259.08 billion, a PE ratio of 28.42, a price-to-earnings-growth ratio of 3.33 and a beta of 1.51. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.81 and a current ratio of 1.38. The company’s fifty day moving average price is $503.67 and its 200 day moving average price is $425.24. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $596.21.

Caterpillar (NYSE:CAT) last posted its earnings results on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.52 by $0.43. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The business had revenue of $17.64 billion for the quarter, compared to analyst estimates of $16.72 billion. During the same period in the prior year, the company posted $5.17 EPS. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, research analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

The firm 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. The ex-dividend date is Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.1%. Caterpillar’s payout ratio is 31.01%.

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.