Caterpillar Inc. $CAT Position Increased by Morey & Quinn Wealth Partners LLC

Morey & Quinn Wealth Partners LLC raised its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 5.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,166 shares of the industrial products company’s stock after buying an additional 65 shares during the period. Morey & Quinn Wealth Partners LLC’s holdings in Caterpillar were worth $453,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. GSB Wealth Management LLC raised its stake in shares of Caterpillar by 1.2% during the second quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company’s stock worth $832,000 after buying an additional 26 shares during the last quarter. Verum Partners LLC grew its holdings in Caterpillar by 2.5% during the second quarter. Verum Partners LLC now owns 1,059 shares of the industrial products company’s stock valued at $411,000 after purchasing an additional 26 shares during the period. Vanguard Capital Wealth Advisors grew its holdings in Caterpillar by 0.8% during the second quarter. Vanguard Capital Wealth Advisors now owns 3,575 shares of the industrial products company’s stock valued at $1,388,000 after purchasing an additional 27 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Caterpillar by 2.4% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,216 shares of the industrial products company’s stock valued at $472,000 after purchasing an additional 29 shares during the period. Finally, McAdam LLC grew its holdings in Caterpillar by 1.6% during the second quarter. McAdam LLC now owns 1,872 shares of the industrial products company’s stock valued at $727,000 after purchasing an additional 29 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Insider Transactions at Caterpillar

In other Caterpillar news, Chairman Donald J. Umpleby III sold 17,168 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the transaction, the chairman owned 482,505 shares of the company’s stock, valued at $199,211,839.35. The trade was a 3.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jason Kaiser sold 2,161 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of the sale, the insider owned 8,632 shares in the company, valued at $3,605,586.40. This represents a 20.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,819 shares of company stock worth $16,885,492 in the last ninety days. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

CAT has been the subject of a number of analyst reports. Erste Group Bank upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Robert W. Baird boosted their price objective on shares of Caterpillar from $495.00 to $540.00 and gave the company an “outperform” rating in a report on Wednesday, September 17th. Sanford C. Bernstein restated a “market perform” rating on shares of Caterpillar in a report on Monday, July 14th. Barclays boosted their price objective on shares of Caterpillar from $383.00 to $425.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Caterpillar in a report on Saturday, September 27th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $473.53.

Caterpillar Stock Performance

Shares of CAT opened at $502.08 on Thursday. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $509.48. The firm has a fifty day simple moving average of $440.73 and a 200 day simple moving average of $381.76. The stock has a market capitalization of $235.21 billion, a price-to-earnings ratio of 25.54, a PEG ratio of 2.96 and a beta of 1.46. 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 announced its 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 return on equity of 48.95% and a net margin of 14.95%.The business had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. During the same quarter in the previous year, the company posted $5.99 EPS. The business’s revenue for the quarter was down .7% compared to the same quarter last year. Research analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be paid a $1.51 dividend. The ex-dividend date is Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a yield of 1.2%. Caterpillar’s dividend payout ratio (DPR) is currently 30.72%.

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.