RMG Wealth Management LLC Purchases Shares of 136 Caterpillar Inc. $CAT

RMG Wealth Management LLC acquired a new position in Caterpillar Inc. (NYSE:CAT) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 136 shares of the industrial products company’s stock, valued at approximately $56,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Trivium Point Advisory LLC lifted its position in Caterpillar by 132.9% during the second quarter. Trivium Point Advisory LLC now owns 1,926 shares of the industrial products company’s stock valued at $748,000 after purchasing an additional 1,099 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Caterpillar by 9.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company’s stock worth $26,037,000 after buying an additional 7,125 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of Caterpillar by 11.2% during the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,315 shares of the industrial products company’s stock valued at $5,557,000 after acquiring an additional 1,440 shares during the period. Ransom Advisory Ltd purchased a new stake in Caterpillar in the 1st quarter worth approximately $427,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Caterpillar by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company’s stock worth $1,089,798,000 after acquiring an additional 15,347 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CAT. Erste Group Bank upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Melius upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price target for the company in a research note on Wednesday, July 9th. Sanford C. Bernstein restated a “market perform” rating on shares of Caterpillar in a research report on Monday, July 14th. Barclays increased their target price on Caterpillar from $383.00 to $425.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. Finally, Bank of America boosted their price target on Caterpillar from $495.00 to $517.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Caterpillar has a consensus rating of “Moderate Buy” and a consensus target price of $466.53.

Caterpillar Price Performance

Shares of Caterpillar stock opened at $486.86 on Wednesday. The firm has a market cap of $228.09 billion, a PE ratio of 24.76, a PEG ratio of 3.01 and a beta of 1.46. The stock has a 50 day moving average of $439.39 and a 200 day moving average of $380.92. 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 Inc. has a 12 month low of $267.30 and a 12 month high of $505.59.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data 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 return on equity of 48.95% and a net margin of 14.95%.The firm had revenue of $16.57 billion for the quarter, compared to analysts’ expectations of $16.14 billion. During the same period last year, the company earned $5.99 earnings per share. The firm’s revenue was down .7% on a year-over-year basis. On average, research analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be issued a $1.51 dividend. The ex-dividend date is Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.2%. Caterpillar’s payout ratio is 30.72%.

Insider Activity

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The stock was 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 of the company’s stock, valued at $3,605,586.40. The trade was a 20.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Susan C. Schwab sold 2,324 shares of the firm’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 directly owned 6,917 shares of the company’s stock, valued at $2,835,970. The trade was a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,819 shares of company stock worth $16,885,492. 0.33% of the stock is currently owned by corporate insiders.

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.