Perfromance Wealth Partners LLC Raises Holdings in Caterpillar Inc. $CAT

Perfromance Wealth Partners LLC boosted its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 5.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,581 shares of the industrial products company’s stock after acquiring an additional 190 shares during the quarter. Perfromance Wealth Partners LLC’s holdings in Caterpillar were worth $1,390,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Valeo Financial Advisors LLC increased its holdings in Caterpillar by 36,842.1% during the second 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 buying an additional 7,279,991 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Caterpillar by 6.7% during the first 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 valued at $1,386,626,000 after buying an additional 264,054 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Caterpillar by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company’s stock valued at $1,089,798,000 after buying an additional 15,347 shares during the period. Goldman Sachs Group Inc. increased its holdings in Caterpillar by 9.1% during 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 period. Finally, Invesco Ltd. increased its holdings in Caterpillar by 5.0% during the first quarter. Invesco Ltd. now owns 3,141,936 shares of the industrial products company’s stock valued at $1,036,211,000 after buying an additional 150,533 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CAT shares. Truist Financial lifted their price target on shares of Caterpillar from $507.00 to $582.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Evercore ISI raised shares of Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price target on the stock in a report on Tuesday, August 19th. Oppenheimer lifted their price target on shares of Caterpillar from $480.00 to $513.00 and gave the stock an “outperform” rating in a report on Monday, September 29th. Barclays lifted their price target on shares of Caterpillar from $383.00 to $425.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. Finally, Melius raised shares of Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price target on the stock in a report on Wednesday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $488.13.

Insider Transactions at Caterpillar

In other news, Chairman Donald J. Umpleby III sold 17,166 shares of Caterpillar stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $462.65, for a total transaction of $7,941,849.90. Following the completion of the sale, the chairman directly owned 465,339 shares in the company, valued at approximately $215,289,088.35. The trade was a 3.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jason Kaiser sold 2,161 shares of the business’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the transaction, the insider owned 8,632 shares of the company’s stock, valued at $3,605,586.40. This represents a 20.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,819 shares of company stock worth $16,885,492. Company insiders own 0.33% of the company’s stock.

Caterpillar Trading Up 2.8%

NYSE:CAT opened at $505.11 on Tuesday. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $511.50. The firm has a fifty day simple moving average of $444.65 and a 200-day simple moving average of $385.71. 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 company has a market capitalization of $236.64 billion, a P/E ratio of 25.69, a PEG ratio of 3.01 and a beta of 1.46.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data 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). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The company had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. During the same quarter in the previous year, the firm posted $5.99 earnings per share. The company’s quarterly revenue was down .7% on a year-over-year basis. On average, equities research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

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

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.