Trace Wealth Advisors LLC Buys Shares of 2,750 Caterpillar Inc. (NYSE:CAT)

Trace Wealth Advisors LLC purchased a new position in shares of Caterpillar Inc. (NYSE:CAT) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,750 shares of the industrial products company’s stock, valued at approximately $998,000. Caterpillar makes up approximately 0.9% of Trace Wealth Advisors LLC’s portfolio, making the stock its 22nd biggest position.

Several other large investors also recently made changes to their positions in CAT. Empirical Asset Management LLC boosted its stake in shares of Caterpillar by 455.3% during the 4th quarter. Empirical Asset Management LLC now owns 7,624 shares of the industrial products company’s stock worth $2,766,000 after acquiring an additional 6,251 shares in the last quarter. Chemistry Wealth Management LLC grew its holdings in Caterpillar by 43.2% in the 4th quarter. Chemistry Wealth Management LLC now owns 891 shares of the industrial products company’s stock valued at $323,000 after buying an additional 269 shares during the last quarter. Merit Financial Group LLC grew its holdings in Caterpillar by 30.7% in the 4th quarter. Merit Financial Group LLC now owns 20,178 shares of the industrial products company’s stock valued at $7,320,000 after buying an additional 4,737 shares during the last quarter. Cranbrook Wealth Management LLC grew its holdings in Caterpillar by 3.5% in the 4th quarter. Cranbrook Wealth Management LLC now owns 2,247 shares of the industrial products company’s stock valued at $815,000 after buying an additional 75 shares during the last quarter. Finally, Brooklyn Investment Group grew its holdings in Caterpillar by 3.1% in the 4th quarter. Brooklyn Investment Group now owns 2,872 shares of the industrial products company’s stock valued at $1,042,000 after buying an additional 87 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

Caterpillar stock opened at $353.60 on Friday. The business has a 50 day simple moving average of $317.42 and a 200 day simple moving average of $353.91. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. Caterpillar Inc. has a one year low of $267.30 and a one year high of $418.50. The company has a market capitalization of $166.56 billion, a PE ratio of 16.02, a price-to-earnings-growth ratio of 1.87 and a beta of 1.35.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.35 by ($0.10). Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. The business had revenue of $14.25 billion during the quarter, compared to the consensus estimate of $14.64 billion. During the same quarter in the previous year, the firm posted $5.60 EPS. The company’s revenue for the quarter was down 9.8% compared to the same quarter last year. On average, sell-side analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Monday, April 21st will be paid a $1.41 dividend. The ex-dividend date of this dividend is Monday, April 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.60%. Caterpillar’s dividend payout ratio (DPR) is currently 27.49%.

Insider Activity

In related news, insider Jason Kaiser sold 2,425 shares of Caterpillar stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total transaction of $860,147.50. Following the completion of the sale, the insider now directly owns 6,275 shares of the company’s stock, valued at $2,225,742.50. The trade was a 27.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David Maclennan acquired 375 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The shares were bought at an average cost of $320.70 per share, with a total value of $120,262.50. Following the completion of the purchase, the director now owns 6,653 shares of the company’s stock, valued at $2,133,617.10. This trade represents a 5.97% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CAT shares. JPMorgan Chase & Co. lowered their target price on Caterpillar from $490.00 to $380.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Oppenheimer raised Caterpillar from a “market perform” rating to an “outperform” rating and set a $395.00 price objective on the stock in a report on Thursday, May 1st. Citigroup lifted their price objective on Caterpillar from $320.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Bank of America decreased their price objective on Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Finally, DA Davidson lifted their price objective on Caterpillar from $325.00 to $331.00 and gave the stock a “neutral” rating in a report on Monday, May 5th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $375.50.

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.