Pinnacle Wealth Planning Services Inc. Sells 615 Shares of Caterpillar Inc. (NYSE:CAT)

Pinnacle Wealth Planning Services Inc. lessened its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 17.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,825 shares of the industrial products company’s stock after selling 615 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Caterpillar were worth $1,025,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CAT. Flagship Wealth Advisors LLC bought a new stake in Caterpillar in the fourth quarter worth $26,000. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Caterpillar in the fourth quarter worth about $27,000. Cyrus J. Lawrence LLC bought a new stake in shares of Caterpillar during the 4th quarter worth about $27,000. Noble Wealth Management PBC acquired a new position in shares of Caterpillar during the 4th quarter valued at about $31,000. Finally, Investment Management Corp VA ADV bought a new position in shares of Caterpillar in the 4th quarter valued at approximately $33,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Trading Down 0.5%

Shares of CAT opened at $343.63 on Monday. The stock’s 50-day moving average price is $318.25 and its 200 day moving average price is $352.14. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $161.86 billion, a price-to-earnings ratio of 15.57, a P/E/G ratio of 1.87 and a beta of 1.35. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $418.50.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.10). The firm had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.64 billion. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. The business’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.60 earnings per share. As a group, research analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Monday, April 21st were paid a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend was Monday, April 21st. Caterpillar’s dividend payout ratio is 27.49%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Evercore ISI reduced their price objective on shares of Caterpillar from $375.00 to $373.00 and set an “in-line” rating for the company in a research note on Monday, May 19th. Oppenheimer upgraded shares of Caterpillar from a “market perform” rating to an “outperform” rating and set a $395.00 target price on the stock in a report on Thursday, May 1st. Wedbush upgraded shares of Caterpillar to an “outperform” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. dropped their price objective on Caterpillar from $490.00 to $380.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. Finally, UBS Group upgraded Caterpillar from a “sell” rating to a “neutral” rating and increased their target price for the company from $272.00 to $357.00 in a research note on Friday, May 16th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $375.33.

Insider Transactions at Caterpillar

In other Caterpillar news, Director David Maclennan purchased 375 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The stock was purchased at an average price of $320.70 per share, with a total value of $120,262.50. Following the completion of the transaction, the director now directly owns 6,653 shares of the company’s stock, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is owned by insiders.

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.