Avidian Wealth Enterprises LLC Has $1.61 Million Stock Position in Caterpillar Inc. $CAT

Avidian Wealth Enterprises LLC grew its stake in Caterpillar Inc. (NYSE:CAT) by 4.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,141 shares of the industrial products company’s stock after buying an additional 193 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Caterpillar were worth $1,607,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pacific Point Advisors LLC acquired a new stake in shares of Caterpillar during the fourth quarter worth $579,000. Brighton Jones LLC increased its holdings in Caterpillar by 51.5% in the fourth quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock worth $2,688,000 after purchasing an additional 2,519 shares in the last quarter. GAMMA Investing LLC boosted 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 buying an additional 2,745 shares in the last quarter. Valmark Advisers Inc. boosted its position in shares of Caterpillar by 2.6% during the 1st quarter. Valmark Advisers Inc. now owns 3,413 shares of the industrial products company’s stock worth $1,126,000 after purchasing an additional 86 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its stake in Caterpillar by 2.7% in the first quarter. Asset Management One Co. Ltd. now owns 318,875 shares of the industrial products company’s stock valued at $105,165,000 after acquiring an additional 8,271 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Buying and Selling

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of the business’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the sale, the director directly owned 6,917 shares of the company’s stock, valued at approximately $2,835,970. The trade was a 25.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jason Kaiser sold 2,161 shares of the firm’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $417.70, for a total value of $902,649.70. Following the transaction, the insider owned 8,632 shares of the company’s stock, valued at $3,605,586.40. The trade was a 20.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,985 shares of company stock worth $25,559,300 in the last 90 days. Insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CAT. Sanford C. Bernstein boosted their price objective on Caterpillar from $447.00 to $502.00 and gave the stock a “market perform” rating in a report on Tuesday, October 14th. Evercore ISI upgraded Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 target price on the stock in a research note on Tuesday, August 19th. Oppenheimer raised their price target on shares of Caterpillar from $480.00 to $513.00 and gave the stock an “outperform” rating in a research note on Monday, September 29th. 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. Finally, Erste Group Bank upgraded Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $515.40.

Caterpillar Stock Down 1.2%

Shares of NYSE:CAT opened at $524.95 on Wednesday. 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 stock’s 50-day moving average price is $458.10 and its 200-day moving average price is $394.14. The stock has a market capitalization of $245.93 billion, a P/E ratio of 26.70, a price-to-earnings-growth ratio of 3.02 and a beta of 1.46. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $544.99.

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

Caterpillar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be given a dividend of $1.51 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $6.04 annualized dividend and a yield of 1.2%. Caterpillar’s dividend payout ratio (DPR) is currently 30.72%.

Caterpillar Company 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.