Caterpillar Inc. $CAT Shares Sold by Elevate Wealth Advisory Inc.

Elevate Wealth Advisory Inc. cut its position in shares of Caterpillar Inc. (NYSE:CAT) by 26.9% during the first quarter, Holdings Channel.com reports. The firm owned 2,862 shares of the industrial products company’s stock after selling 1,051 shares during the quarter. Elevate Wealth Advisory Inc.’s holdings in Caterpillar were worth $944,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Victrix Investment Advisors acquired a new position in Caterpillar during the fourth quarter worth $2,090,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Caterpillar by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company’s stock valued at $1,089,798,000 after buying an additional 15,347 shares during the last quarter. Pacific Point Advisors LLC purchased a new stake in shares of Caterpillar in the fourth quarter valued at about $579,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Caterpillar by 18.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 191,640 shares of the industrial products company’s stock valued at $63,202,000 after purchasing an additional 30,070 shares in the last quarter. Finally, Crestwood Advisors Group LLC raised its stake in shares of Caterpillar by 3.4% during the 1st quarter. Crestwood Advisors Group LLC now owns 22,689 shares of the industrial products company’s stock worth $7,483,000 after buying an additional 743 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Activity

In other news, Director Susan C. Schwab sold 2,324 shares of the 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 sale, the director owned 6,917 shares in the company, valued at approximately $2,835,970. This represents a 25.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jason Kaiser sold 2,161 shares of the 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 sale, the insider directly owned 8,632 shares in the company, valued at $3,605,586.40. This trade represents a 20.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Trading Up 1.0%

Shares of CAT stock opened at $420.2390 on Thursday. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $441.15. The firm has a market capitalization of $196.87 billion, a P/E ratio of 21.38, a price-to-earnings-growth ratio of 2.48 and a beta of 1.40. The firm’s fifty day simple moving average is $403.02 and its 200 day simple moving average is $356.92. 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 posted its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 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 firm had revenue of $16.57 billion during the quarter, compared to analyst estimates of $16.14 billion. During the same period last year, the company earned $5.99 EPS. The company’s revenue was down .7% on a year-over-year basis. As a group, sell-side analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Monday, July 21st were paid a $1.51 dividend. The ex-dividend date of this dividend was Monday, July 21st. This represents a $6.04 annualized dividend and a yield of 1.4%. This is a positive change from Caterpillar’s previous quarterly dividend of $1.41. Caterpillar’s payout ratio is presently 30.72%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Barclays increased their price target on Caterpillar from $383.00 to $425.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. JPMorgan Chase & Co. raised their price objective on Caterpillar from $475.00 to $520.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 6th. Truist Financial boosted their target price on shares of Caterpillar from $414.00 to $507.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. DA Davidson upped their target price on Caterpillar from $331.00 to $388.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Finally, Melius upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 target price on the stock in a report on Wednesday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $450.87.

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.