PDS Planning Inc Acquires 321 Shares of Caterpillar Inc. $CAT

PDS Planning Inc lifted its holdings in Caterpillar Inc. (NYSE:CAT) by 12.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,864 shares of the industrial products company’s stock after acquiring an additional 321 shares during the period. PDS Planning Inc’s holdings in Caterpillar were worth $1,112,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CAT. Compass Financial Services Inc lifted its stake in Caterpillar by 49.2% in the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 31 shares during the last quarter. Family Legacy Financial Solutions LLC bought a new stake in Caterpillar in the second quarter worth about $32,000. Redmont Wealth Advisors LLC bought a new stake in Caterpillar in the first quarter worth about $33,000. Total Wealth Planning & Management Inc. bought a new stake in Caterpillar in the second quarter worth about $38,000. Finally, Fiduciary Wealth Partners LLC bought a new stake in Caterpillar in the first quarter worth about $45,000. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

Shares of CAT stock opened at $491.67 on Friday. The firm has a market cap of $230.34 billion, a price-to-earnings ratio of 25.01, a PEG ratio of 3.04 and a beta of 1.46. The company’s 50 day moving average is $443.23 and its 200 day moving average is $383.88. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $511.50.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.88 by ($0.16). The business had revenue of $16.57 billion for the quarter, compared to analysts’ expectations of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The business’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the business earned $5.99 earnings per share. On average, sell-side analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The firm 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 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s dividend payout ratio (DPR) is presently 30.72%.

Insider Activity at Caterpillar

In related news, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the transaction, the insider directly owned 8,632 shares of the company’s stock, valued at $3,605,586.40. This trade represents a 20.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Susan C. Schwab sold 2,324 shares of Caterpillar stock in a transaction on Friday, August 15th. The stock was sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the transaction, the director directly owned 6,917 shares in the company, valued at $2,835,970. This represents a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,819 shares of company stock valued at $16,885,492 over the last ninety days. 0.33% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on CAT shares. Erste Group Bank raised shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. JPMorgan Chase & Co. lifted their price target on shares of Caterpillar from $475.00 to $520.00 and gave the company an “overweight” rating in a research note on Wednesday, August 6th. Jefferies Financial Group lifted their price target on shares of Caterpillar from $500.00 to $570.00 and gave the company a “buy” rating in a research note on Wednesday. Melius Research raised shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price target for the company in a research note on Wednesday, July 9th. Finally, Barclays lifted their price target on shares of Caterpillar from $383.00 to $425.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $478.20.

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.