TCP Asset Management LLC Makes New $223,000 Investment in Caterpillar Inc. $CAT

TCP Asset Management LLC purchased a new stake in Caterpillar Inc. (NYSE:CAT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 575 shares of the industrial products company’s stock, valued at approximately $223,000.

Other institutional investors have also recently made changes to their positions in the company. Valeo Financial Advisors LLC lifted its stake in shares of Caterpillar by 36,842.1% in the 2nd quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock valued at $2,833,836,000 after purchasing an additional 7,279,991 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Caterpillar by 6.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,204,445 shares of the industrial products company’s stock worth $1,386,626,000 after purchasing an additional 264,054 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Caterpillar by 1.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,337,915 shares of the industrial products company’s stock valued at $1,295,432,000 after buying an additional 33,467 shares during the period. Goldman Sachs Group Inc. lifted its position in Caterpillar by 9.1% in the first quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company’s stock valued at $1,064,951,000 after buying an additional 268,300 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Caterpillar by 5.0% during the first quarter. Invesco Ltd. now owns 3,141,936 shares of the industrial products company’s stock worth $1,036,211,000 after buying an additional 150,533 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling at Caterpillar

In other news, CAO William E. Schaupp sold 1,200 shares of the business’s stock in a transaction that occurred on 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. The trade was a 47.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Anthony D. Fassino sold 8,184 shares of the company’s 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 completion of the transaction, the insider owned 41,512 shares of the company’s stock, valued at approximately $23,669,312.16. The trade was a 16.47% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 86,229 shares of company stock worth $43,323,118. 0.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CAT has been the topic of several recent analyst reports. Citigroup upped their price objective on shares of Caterpillar from $570.00 to $670.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Argus upped their price target on Caterpillar from $460.00 to $625.00 and gave the stock a “buy” rating in a research note on Wednesday, November 19th. Hsbc Global Res raised Caterpillar from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Caterpillar in a research note on Monday, November 17th. Finally, Barclays boosted their price target on shares of Caterpillar from $485.00 to $555.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 30th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Caterpillar currently has an average rating of “Moderate Buy” and an average price target of $610.32.

Caterpillar Stock Up 0.8%

Shares of NYSE:CAT opened at $550.74 on Monday. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $596.21. The firm’s 50 day moving average price is $518.69 and its 200 day moving average price is $436.68. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 1.34. The stock has a market cap of $257.74 billion, a price-to-earnings ratio of 28.27, a price-to-earnings-growth ratio of 3.33 and a beta of 1.51.

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

Caterpillar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, October 20th were given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Monday, October 20th. Caterpillar’s dividend payout ratio is currently 31.01%.

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.