Revolve Wealth Partners LLC Sells 59 Shares of Caterpillar Inc. $CAT

Revolve Wealth Partners LLC lowered its stake in Caterpillar Inc. (NYSE:CAT) by 8.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 625 shares of the industrial products company’s stock after selling 59 shares during the quarter. Revolve Wealth Partners LLC’s holdings in Caterpillar were worth $243,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jag Capital Management LLC grew its position in shares of Caterpillar by 38.0% during the second quarter. Jag Capital Management LLC now owns 1,079 shares of the industrial products company’s stock valued at $419,000 after purchasing an additional 297 shares in the last quarter. Hudson Capital Management LLC boosted its holdings in Caterpillar by 4.2% in the second quarter. Hudson Capital Management LLC now owns 12,032 shares of the industrial products company’s stock valued at $4,671,000 after purchasing an additional 485 shares during the last quarter. Wealth Architects LLC raised its position in shares of Caterpillar by 2.1% in the second quarter. Wealth Architects LLC now owns 6,009 shares of the industrial products company’s stock worth $2,333,000 after acquiring an additional 121 shares during the period. Concord Asset Management LLC VA raised its holdings in Caterpillar by 7.6% in the 2nd quarter. Concord Asset Management LLC VA now owns 9,676 shares of the industrial products company’s stock valued at $3,756,000 after acquiring an additional 684 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its position in shares of Caterpillar by 36.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 170,951 shares of the industrial products company’s stock worth $66,365,000 after purchasing an additional 45,522 shares during the period. 70.98% of the stock is owned by institutional investors.

Insider Transactions at Caterpillar

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the transaction, the insider owned 8,632 shares in the company, valued at approximately $3,605,586.40. This trade represents a 20.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Susan C. Schwab sold 2,324 shares of the company’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $410.00, for a total value of $952,840.00. Following the completion of the sale, the director owned 6,917 shares of the company’s stock, valued at $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,985 shares of company stock valued at $25,559,300 over the last 90 days. Company insiders own 0.33% of the company’s stock.

Caterpillar Stock Performance

NYSE:CAT opened at $528.75 on Wednesday. The stock has a market cap of $247.71 billion, a P/E ratio of 26.89, a price-to-earnings-growth ratio of 3.09 and a beta of 1.46. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $531.56. The stock’s 50-day moving average is $446.55 and its 200-day moving average is $386.71. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50.

Caterpillar (NYSE:CAT) last announced its earnings results 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). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The business had revenue of $16.57 billion for the quarter, compared to analysts’ expectations of $16.14 billion. During the same period in the prior year, the business earned $5.99 earnings per share. The company’s revenue for the quarter was down .7% compared to the same quarter last year. Equities research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders 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 1.1%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s payout ratio is currently 30.72%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CAT shares. Bank of America lifted their price objective on shares of Caterpillar from $495.00 to $517.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Barclays raised their price target on shares of Caterpillar from $383.00 to $425.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. Erste Group Bank upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Melius raised shares of Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price objective on the stock in a research report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Caterpillar from $505.00 to $650.00 and gave the stock an “overweight” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $501.47.

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.