Caterpillar Inc. (NYSE:CAT) Stake Lowered by Pinnacle Wealth Management LLC

Pinnacle Wealth Management LLC reduced its stake in shares of Caterpillar Inc. (NYSE:CAT) by 1.3% during the 4th quarter, HoldingsChannel reports. The fund owned 6,425 shares of the industrial products company’s stock after selling 87 shares during the period. Caterpillar accounts for 2.6% of Pinnacle Wealth Management LLC’s holdings, making the stock its 15th biggest position. Pinnacle Wealth Management LLC’s holdings in Caterpillar were worth $2,331,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. West Wealth Group LLC bought a new stake in Caterpillar in the fourth quarter worth $230,000. Proficio Capital Partners LLC boosted its holdings in Caterpillar by 38.3% in the fourth quarter. Proficio Capital Partners LLC now owns 2,218 shares of the industrial products company’s stock worth $805,000 after purchasing an additional 614 shares in the last quarter. Victrix Investment Advisors bought a new stake in Caterpillar during the fourth quarter valued at about $2,090,000. Braun Stacey Associates Inc. boosted its holdings in Caterpillar by 2.8% during the fourth quarter. Braun Stacey Associates Inc. now owns 34,837 shares of the industrial products company’s stock valued at $12,637,000 after acquiring an additional 963 shares during the period. Finally, Strategic Advisors LLC boosted its holdings in Caterpillar by 14.6% during the fourth quarter. Strategic Advisors LLC now owns 5,724 shares of the industrial products company’s stock valued at $2,076,000 after acquiring an additional 730 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Caterpillar news, Director David Maclennan purchased 375 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The stock was purchased at an average price of $320.70 per share, with a total value of $120,262.50. Following the completion of the transaction, the director now directly owns 6,653 shares of the company’s stock, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.33% of the company’s stock.

Caterpillar Stock Up 0.7%

Shares of CAT opened at $345.03 on Friday. The company has a 50-day simple moving average of $318.11 and a 200-day simple moving average of $353.24. The firm has a market capitalization of $162.52 billion, a P/E ratio of 15.63, a P/E/G ratio of 1.87 and a beta of 1.35. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $418.50.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.10). Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. The company had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.64 billion. During the same period in the prior year, the company posted $5.60 EPS. The firm’s quarterly revenue was down 9.8% on a year-over-year basis. On average, equities research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Monday, April 21st were given a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend was Monday, April 21st. Caterpillar’s dividend payout ratio (DPR) is presently 27.49%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CAT shares. DA Davidson upped their price target on shares of Caterpillar from $325.00 to $331.00 and gave the company a “neutral” rating in a report on Monday, May 5th. Robert W. Baird upgraded shares of Caterpillar from a “neutral” rating to an “outperform” rating and upped their price target for the company from $309.00 to $395.00 in a report on Tuesday, May 13th. JPMorgan Chase & Co. decreased their price target on shares of Caterpillar from $490.00 to $380.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Morgan Stanley upgraded shares of Caterpillar from an “underweight” rating to an “equal weight” rating and decreased their price target for the company from $300.00 to $283.00 in a report on Wednesday, April 16th. Finally, Baird R W upgraded shares of Caterpillar from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 13th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $375.33.

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.