Nicholas Wealth LLC. Has $1.42 Million Stock Holdings in Caterpillar Inc. $CAT

Nicholas Wealth LLC. boosted its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 2.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,657 shares of the industrial products company’s stock after buying an additional 97 shares during the period. Nicholas Wealth LLC.’s holdings in Caterpillar were worth $1,420,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Pacific Point Advisors LLC acquired a new position in Caterpillar in the 4th quarter valued at approximately $579,000. Brighton Jones LLC increased its stake in shares of 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 acquiring an additional 2,519 shares during the last quarter. GW&K Investment Management LLC increased its stake in shares of Caterpillar by 14.6% in the first quarter. GW&K Investment Management LLC now owns 283 shares of the industrial products company’s stock worth $93,000 after acquiring an additional 36 shares during the last quarter. Crestwood Advisors Group LLC boosted its position in Caterpillar by 3.4% during the first quarter. Crestwood Advisors Group LLC now owns 22,689 shares of the industrial products company’s stock valued at $7,483,000 after purchasing an additional 743 shares during the last quarter. Finally, Gries Financial LLC grew its stake in Caterpillar by 13.5% in the first quarter. Gries Financial LLC now owns 1,199 shares of the industrial products company’s stock valued at $395,000 after purchasing an additional 143 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Performance

NYSE:CAT opened at $546.75 on Wednesday. The firm has a market capitalization of $255.87 billion, a PE ratio of 28.07, a PEG ratio of 3.33 and a beta of 1.51. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $596.21. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 1.34. The firm’s fifty day simple moving average is $511.40 and its 200 day simple moving average is $431.86.

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

Caterpillar Dividend Announcement

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

Insider Activity at Caterpillar

In other news, insider Anthony D. Fassino sold 8,184 shares of the firm’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $570.18, for a total value of $4,666,353.12. Following the sale, the insider owned 41,512 shares in the company, valued at approximately $23,669,312.16. This trade represents a 16.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the company’s stock in a transaction on 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 transaction, the chairman owned 482,505 shares of the company’s stock, valued at approximately $199,211,839.35. The trade was a 3.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 86,229 shares of company stock valued at $43,323,118. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Royal Bank Of Canada began coverage on Caterpillar in a research note on Wednesday, October 22nd. They set a “sector perform” rating and a $560.00 price target for the company. Oppenheimer raised their price objective on shares of Caterpillar from $513.00 to $645.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Evercore ISI raised shares of Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 target price for the company in a research report on Tuesday, August 19th. Sanford C. Bernstein restated a “market perform” rating on shares of Caterpillar in a report on Wednesday, November 5th. Finally, Truist Financial reiterated a “buy” rating and issued a $729.00 price objective (up from $582.00) on shares of Caterpillar in a report on Thursday, October 30th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $600.94.

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.