Vivid Wealth Management LLC Trims Stake in Caterpillar Inc. $CAT

Vivid Wealth Management LLC cut its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 17.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,922 shares of the industrial products company’s stock after selling 1,233 shares during the quarter. Caterpillar comprises approximately 1.1% of Vivid Wealth Management LLC’s investment portfolio, making the stock its 28th biggest position. Vivid Wealth Management LLC’s holdings in Caterpillar were worth $2,826,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the stock. Kilter Group LLC purchased a new position in shares of Caterpillar during the 2nd quarter worth approximately $27,000. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Caterpillar in the second quarter valued at $28,000. Marquette Asset Management LLC raised its holdings in shares of Caterpillar by 1,060.0% in the 3rd quarter. Marquette Asset Management LLC now owns 58 shares of the industrial products company’s stock valued at $28,000 after buying an additional 53 shares during the period. Family Legacy Financial Solutions LLC acquired a new position in Caterpillar during the 2nd quarter worth about $32,000. Finally, RiverPark Advisors LLC purchased a new position in Caterpillar during the 2nd quarter valued at about $32,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Performance

Shares of CAT opened at $629.52 on Tuesday. The company has a market capitalization of $294.60 billion, a price-to-earnings ratio of 32.32, a price-to-earnings-growth ratio of 2.39 and a beta of 1.57. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $630.98. The company has a quick ratio of 0.86, a current ratio of 1.38 and a debt-to-equity ratio of 1.34. The stock has a 50 day moving average price of $580.50 and a 200 day moving average price of $496.54.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Monday, November 3rd. The industrial products company reported $4.95 earnings per share for the quarter, topping analysts’ consensus estimates of $4.52 by $0.43. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The company had revenue of $17.64 billion for the quarter, compared to analysts’ expectations of $16.72 billion. During the same quarter last year, the company earned $5.17 earnings per share. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. Research analysts predict 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 Thursday, February 19th. Stockholders of record on Tuesday, January 20th will be issued a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, January 20th. Caterpillar’s payout ratio is presently 31.01%.

Insider Transactions at Caterpillar

In other Caterpillar news, Director David Maclennan acquired 300 shares of the company’s stock in a transaction on Thursday, November 6th. The shares were bought at an average cost of $568.86 per share, for a total transaction of $170,658.00. Following the completion of the purchase, the director owned 7,947 shares in the company, valued at $4,520,730.42. This trade represents a 3.92% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jason Kaiser sold 10,707 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $563.60, for a total value of $6,034,465.20. Following the sale, the insider directly owned 8,649 shares of the company’s stock, valued at approximately $4,874,576.40. This represents a 55.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 54,729 shares of company stock worth $31,084,308. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CAT. Barclays increased their price target on shares of Caterpillar from $485.00 to $555.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 30th. Royal Bank Of Canada started coverage on shares of Caterpillar in a research note on Wednesday, October 22nd. They issued a “sector perform” rating and a $560.00 price target for the company. UBS Group increased their price objective on Caterpillar from $506.00 to $581.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. Bank of America boosted their target price on Caterpillar from $594.00 to $650.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Caterpillar in a research report on Wednesday, January 7th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $618.70.

Caterpillar Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off?highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.