Opal Wealth Advisors LLC Cuts Stock Position in Caterpillar Inc. (NYSE:CAT)

Opal Wealth Advisors LLC lowered its holdings in Caterpillar Inc. (NYSE:CAT) by 3.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,705 shares of the industrial products company’s stock after selling 66 shares during the period. Opal Wealth Advisors LLC’s holdings in Caterpillar were worth $562,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Adell Harriman & Carpenter Inc. boosted its position in Caterpillar by 1.2% in the fourth quarter. Adell Harriman & Carpenter Inc. now owns 2,256 shares of the industrial products company’s stock worth $818,000 after purchasing an additional 27 shares during the last quarter. Abacus Planning Group Inc. raised its stake in shares of Caterpillar by 1.0% in the fourth quarter. Abacus Planning Group Inc. now owns 2,897 shares of the industrial products company’s stock valued at $1,051,000 after buying an additional 28 shares during the period. Cape Investment Advisory Inc. raised its stake in shares of Caterpillar by 6.3% in the fourth quarter. Cape Investment Advisory Inc. now owns 471 shares of the industrial products company’s stock valued at $171,000 after buying an additional 28 shares during the period. Beacon Capital Management LLC raised its stake in shares of Caterpillar by 2.1% in the fourth quarter. Beacon Capital Management LLC now owns 1,432 shares of the industrial products company’s stock valued at $520,000 after buying an additional 29 shares during the period. Finally, Klingman & Associates LLC raised its stake in shares of Caterpillar by 4.5% in the fourth quarter. Klingman & Associates LLC now owns 703 shares of the industrial products company’s stock valued at $255,000 after buying an additional 30 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insiders Place Their Bets

In other Caterpillar news, Director David Maclennan bought 375 shares of the firm’s stock in a transaction on Wednesday, May 7th. The shares were acquired at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the purchase, the director now directly owns 6,653 shares of the company’s stock, valued at $2,133,617.10. The trade was a 5.97% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Price Performance

Shares of NYSE CAT opened at $356.79 on Friday. The firm has a market capitalization of $168.06 billion, a P/E ratio of 16.17, a P/E/G ratio of 1.87 and a beta of 1.37. 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 stock’s 50-day simple moving average is $327.10 and its two-hundred day simple moving average is $348.63. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $418.50.

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

Caterpillar Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be paid a $1.51 dividend. This is a positive change from Caterpillar’s previous quarterly dividend of $1.41. This represents a $6.04 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Monday, July 21st. Caterpillar’s dividend payout ratio is currently 27.49%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Oppenheimer upgraded Caterpillar from a “market perform” rating to an “outperform” rating and set a $395.00 target price on the stock in a research note on Thursday, May 1st. JPMorgan Chase & Co. lowered their target price on Caterpillar from $490.00 to $380.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. DA Davidson boosted their target price on Caterpillar from $325.00 to $331.00 and gave the company a “neutral” rating in a research note on Monday, May 5th. Evercore ISI lowered their target price on Caterpillar from $375.00 to $373.00 and set an “in-line” rating on the stock in a research note on Monday, May 19th. Finally, UBS Group upgraded Caterpillar from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $272.00 to $357.00 in a research note on Friday, May 16th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Caterpillar currently has an average rating of “Moderate Buy” and an average price target of $372.92.

Caterpillar 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.