Sierra Summit Advisors LLC Invests $1.09 Million in Caterpillar Inc. $CAT

Sierra Summit Advisors LLC bought a new stake in Caterpillar Inc. (NYSE:CAT) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,803 shares of the industrial products company’s stock, valued at approximately $1,088,000.

A number of other large investors also recently added to or reduced their stakes in the company. Pacific Point Advisors LLC purchased a new stake in shares of Caterpillar in the 4th quarter valued at $579,000. Brighton Jones LLC grew its position in Caterpillar by 51.5% in the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock valued at $2,688,000 after acquiring an additional 2,519 shares in the last quarter. Avantax Advisory Services Inc. increased its stake in Caterpillar by 3.5% during the first quarter. Avantax Advisory Services Inc. now owns 49,091 shares of the industrial products company’s stock worth $16,190,000 after purchasing an additional 1,666 shares during the period. Cetera Investment Advisers lifted its position in shares of Caterpillar by 0.7% during the first quarter. Cetera Investment Advisers now owns 235,195 shares of the industrial products company’s stock worth $77,567,000 after purchasing an additional 1,671 shares in the last quarter. Finally, Assetmark Inc. grew its holdings in shares of Caterpillar by 4.3% in the first quarter. Assetmark Inc. now owns 19,614 shares of the industrial products company’s stock valued at $6,469,000 after purchasing an additional 812 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CAT shares. Oppenheimer increased their target price on shares of Caterpillar from $513.00 to $645.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Robert W. Baird increased their price objective on Caterpillar from $612.00 to $680.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. HSBC raised Caterpillar from a “hold” rating to a “buy” rating and boosted their target price for the stock from $405.00 to $660.00 in a research note on Wednesday, November 5th. Argus increased their price target on Caterpillar from $460.00 to $625.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Citigroup boosted their price objective on Caterpillar from $570.00 to $670.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $610.32.

Insider Activity at Caterpillar

In related news, insider Anthony D. Fassino sold 8,184 shares of the business’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $570.18, for a total value of $4,666,353.12. Following the sale, the insider directly owned 41,512 shares in the company, valued at $23,669,312.16. The trade was a 16.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David Maclennan bought 300 shares of the company’s stock in a transaction on Thursday, November 6th. The shares were acquired at an average price of $568.86 per share, with a total value of $170,658.00. Following the completion of the acquisition, the director directly owned 7,947 shares in the company, valued at $4,520,730.42. This represents a 3.92% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 86,229 shares of company stock valued at $43,323,118 in the last 90 days. 0.33% of the stock is owned by corporate insiders.

Caterpillar Price Performance

CAT stock opened at $550.74 on Friday. The business has a 50 day moving average price of $518.69 and a 200 day moving average price of $435.87. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 1.34. The stock has a market cap of $257.74 billion, a price-to-earnings ratio of 28.27, a PEG ratio of 3.33 and a beta of 1.51. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $596.21.

Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share for the quarter, beating the consensus estimate of $4.52 by $0.43. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The company had revenue of $17.64 billion for the quarter, compared to the consensus estimate of $16.72 billion. During the same period last year, the business posted $5.17 EPS. The company’s revenue was up 9.5% on a year-over-year basis. Equities research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Monday, October 20th were issued a dividend of $1.51 per share. The ex-dividend date of this dividend was Monday, October 20th. This represents a $6.04 annualized dividend and a yield of 1.1%. Caterpillar’s payout ratio is currently 31.01%.

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.