North Forty Two & Co. Invests $214,000 in Caterpillar Inc. $CAT

North Forty Two & Co. purchased a new position in Caterpillar Inc. (NYSE:CAT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 550 shares of the industrial products company’s stock, valued at approximately $214,000.

Other large investors also recently added to or reduced their stakes in the company. Pacific Point Advisors LLC purchased a new position in Caterpillar during the 4th quarter worth $579,000. Brighton Jones LLC grew its position in shares of Caterpillar by 51.5% during the 4th 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. GW&K Investment Management LLC increased its stake in shares of Caterpillar by 14.6% during the first quarter. GW&K Investment Management LLC now owns 283 shares of the industrial products company’s stock valued at $93,000 after buying an additional 36 shares during the period. Crestwood Advisors Group LLC raised its holdings in shares of Caterpillar by 3.4% in the first quarter. Crestwood Advisors Group LLC now owns 22,689 shares of the industrial products company’s stock valued at $7,483,000 after acquiring an additional 743 shares in the last quarter. Finally, Gries Financial LLC grew its holdings in Caterpillar by 13.5% during the 1st quarter. Gries Financial LLC now owns 1,199 shares of the industrial products company’s stock worth $395,000 after acquiring an additional 143 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CAT has been the subject of several research reports. Wells Fargo & Company began coverage on shares of Caterpillar in a research report on Thursday, November 13th. They issued an “overweight” rating and a $675.00 price target for the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Caterpillar in a research report on Monday. Hsbc Global Res raised Caterpillar from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. Royal Bank Of Canada assumed coverage on Caterpillar in a research report on Wednesday, October 22nd. They set a “sector perform” rating and a $560.00 price objective on the stock. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of Caterpillar in a report on Wednesday, November 5th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $600.94.

Caterpillar Stock Down 1.0%

Shares of CAT stock opened at $546.75 on Wednesday. The stock’s fifty day moving average price is $511.40 and its 200 day moving average price is $431.86. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $596.21. The company has a market cap of $255.87 billion, a price-to-earnings ratio of 28.07, a price-to-earnings-growth ratio of 3.33 and a beta of 1.51. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.38 and a quick ratio of 0.81.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share for the quarter, topping analysts’ consensus estimates of $4.52 by $0.43. The business had revenue of $17.64 billion for the quarter, compared to analyst estimates of $16.72 billion. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The company’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.17 earnings per share. On average, research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

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 1.1%. The ex-dividend date is Monday, October 20th. Caterpillar’s payout ratio is presently 31.01%.

Insider Activity

In other Caterpillar news, insider Anthony D. Fassino sold 8,184 shares of the business’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $570.18, for a total transaction of $4,666,353.12. Following the sale, the insider owned 41,512 shares in the company, valued at approximately $23,669,312.16. The trade was a 16.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO William E. Schaupp sold 1,200 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $572.22, for a total value of $686,664.00. Following the completion of the transaction, the chief accounting officer owned 1,323 shares of the company’s stock, valued at approximately $757,047.06. The trade was a 47.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 86,229 shares of company stock valued at $43,323,118. 0.33% of the stock is owned by corporate insiders.

Caterpillar Company 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.