CFO4Life Group LLC Buys New Shares in Caterpillar Inc. $CAT

CFO4Life Group LLC purchased a new position in Caterpillar Inc. (NYSE:CAT) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 586 shares of the industrial products company’s stock, valued at approximately $227,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Valeo Financial Advisors LLC raised its stake in Caterpillar by 36,842.1% during the 2nd quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock worth $2,833,836,000 after buying an additional 7,279,991 shares during the period. Pacer Advisors Inc. raised its position in shares of Caterpillar by 2,723.1% during the first quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company’s stock worth $466,430,000 after purchasing an additional 1,364,183 shares during the period. Nuveen LLC bought a new position in shares of Caterpillar in the 1st quarter worth $391,788,000. Assenagon Asset Management S.A. grew its position in Caterpillar by 546.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 843,093 shares of the industrial products company’s stock valued at $327,297,000 after purchasing an additional 712,711 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in Caterpillar by 9.1% during the 1st 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 purchasing an additional 268,300 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

Shares of Caterpillar stock opened at $552.74 on Friday. The business’s fifty day simple moving average is $506.27 and its 200 day simple moving average is $427.79. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 1.34. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $596.21. The firm has a market capitalization of $258.67 billion, a P/E ratio of 28.37, a price-to-earnings-growth ratio of 3.33 and a beta of 1.51.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data 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 firm had revenue of $17.64 billion during the quarter, compared to the consensus estimate of $16.72 billion. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.17 EPS. As a group, analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Monday, October 20th. Caterpillar’s dividend payout ratio (DPR) is 31.01%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Wells Fargo & Company started coverage on shares of Caterpillar in a research note on Thursday. They issued an “overweight” rating and a $675.00 price objective on the stock. Evercore ISI upgraded Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price target for the company in a research note on Tuesday, August 19th. Jefferies Financial Group boosted their price objective on Caterpillar from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Caterpillar in a research report on Tuesday. Finally, Morgan Stanley increased their price target on Caterpillar from $350.00 to $380.00 and gave the company an “underweight” rating in a research report on Thursday, October 30th. Three equities research 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 given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $600.94.

Insider Transactions at Caterpillar

In related news, CAO William E. Schaupp sold 1,200 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $572.22, for a total value of $686,664.00. Following the transaction, the chief accounting officer owned 1,323 shares in the company, valued at approximately $757,047.06. This represents a 47.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lange Bob De sold 14,638 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $562.36, for a total value of $8,231,825.68. Following the completion of the sale, the insider directly owned 80,209 shares of the company’s stock, valued at $45,106,333.24. This represents a 15.43% 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. Corporate insiders own 0.33% of the company’s stock.

Caterpillar 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.