Cary Street Partners Financial LLC Has $11.52 Million Stock Position in Caterpillar Inc. $CAT

Cary Street Partners Financial LLC raised its position in shares of Caterpillar Inc. (NYSE:CAT) by 13.4% in the 4th quarter, Holdings Channel reports. The firm owned 20,117 shares of the industrial products company’s stock after acquiring an additional 2,379 shares during the period. Cary Street Partners Financial LLC’s holdings in Caterpillar were worth $11,524,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Pacific Point Advisors LLC acquired a new position in shares of Caterpillar during the fourth quarter worth $579,000. Brighton Jones LLC increased its holdings in shares of Caterpillar by 51.5% during the fourth quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock worth $2,688,000 after buying an additional 2,519 shares in the last quarter. United Bank increased its holdings in shares of Caterpillar by 108.5% during the second quarter. United Bank now owns 4,083 shares of the industrial products company’s stock worth $1,585,000 after buying an additional 2,125 shares in the last quarter. Schnieders Capital Management LLC. grew its stake in shares of Caterpillar by 3.9% in the second quarter. Schnieders Capital Management LLC. now owns 9,147 shares of the industrial products company’s stock worth $3,551,000 after purchasing an additional 347 shares during the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of Caterpillar by 6.5% in the second quarter. Alliancebernstein L.P. now owns 572,165 shares of the industrial products company’s stock worth $222,120,000 after purchasing an additional 34,846 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Performance

Shares of CAT opened at $880.23 on Tuesday. The company has a current ratio of 1.35, a quick ratio of 0.81 and a debt-to-equity ratio of 1.64. The stock has a market capitalization of $405.42 billion, a P/E ratio of 43.81, a price-to-earnings-growth ratio of 1.74 and a beta of 1.63. The firm’s fifty day simple moving average is $795.32 and its two-hundred day simple moving average is $694.03. Caterpillar Inc. has a 12 month low of $336.24 and a 12 month high of $931.35.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Thursday, April 30th. The industrial products company reported $5.54 EPS for the quarter, beating analysts’ consensus estimates of $4.65 by $0.89. The business had revenue of $17.42 billion for the quarter, compared to analysts’ expectations of $16.53 billion. Caterpillar had a net margin of 13.33% and a return on equity of 48.21%. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.25 earnings per share. As a group, analysts predict that Caterpillar Inc. will post 24.67 EPS for the current year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 19th. Stockholders of record on Monday, April 20th were given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, April 20th. Caterpillar’s dividend payout ratio is 30.06%.

Analyst Ratings Changes

CAT has been the topic of several analyst reports. Wells Fargo & Company boosted their price objective on shares of Caterpillar from $960.00 to $1,050.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Argus boosted their price objective on shares of Caterpillar from $820.00 to $990.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Evercore reissued an “outperform” rating and issued a $1,103.00 price objective on shares of Caterpillar in a research note on Monday, May 11th. HSBC boosted their price objective on shares of Caterpillar from $850.00 to $1,100.00 in a research note on Tuesday, May 5th. Finally, Daiwa Securities Group boosted their price objective on shares of Caterpillar from $790.00 to $900.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Sixteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $923.14.

Insider Activity at Caterpillar

In other news, insider Jason Kaiser sold 5,642 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $883.03, for a total transaction of $4,982,055.26. Following the transaction, the insider owned 9,594 shares of the company’s stock, valued at $8,471,789.82. This represents a 37.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Andrew R. J. Bonfield sold 15,674 shares of the company’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $918.71, for a total transaction of $14,399,860.54. Following the completion of the sale, the chief financial officer owned 52,935 shares in the company, valued at $48,631,913.85. This represents a 22.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 98,273 shares of company stock worth $89,439,960. 0.33% of the stock is currently owned by insiders.

Caterpillar Company 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.