CCG Wealth Management LLC Purchases Shares of 667 Caterpillar Inc. $CAT

CCG Wealth Management LLC purchased a new stake in Caterpillar Inc. (NYSE:CAT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 667 shares of the industrial products company’s stock, valued at approximately $259,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CAT. Valeo Financial Advisors LLC boosted its position in Caterpillar by 36,842.1% in the 2nd quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock valued at $2,833,836,000 after buying an additional 7,279,991 shares during the period. Pacer Advisors Inc. boosted its position in Caterpillar by 2,723.1% in the 1st quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company’s stock valued at $466,430,000 after buying an additional 1,364,183 shares during the period. Nuveen LLC purchased a new stake in shares of Caterpillar during the 1st quarter worth $391,788,000. Assenagon Asset Management S.A. lifted its position in shares of Caterpillar by 546.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 843,093 shares of the industrial products company’s stock worth $327,297,000 after purchasing an additional 712,711 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Caterpillar by 9.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company’s stock worth $1,064,951,000 after purchasing an additional 268,300 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

CAT has been the subject of several recent analyst reports. Citigroup lifted their price objective on shares of Caterpillar from $540.00 to $570.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Truist Financial lifted their price objective on shares of Caterpillar from $507.00 to $582.00 and gave the stock a “buy” rating in a research report on Wednesday. Jefferies Financial Group lifted their price objective on shares of Caterpillar from $500.00 to $570.00 and gave the stock a “buy” rating in a research report on Wednesday. DA Davidson lifted their price objective on shares of Caterpillar from $331.00 to $388.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Finally, Robert W. Baird lifted their price objective on shares of Caterpillar from $495.00 to $540.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 17th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $478.20.

Insider Transactions at Caterpillar

In other news, Director Susan C. Schwab sold 2,324 shares of the business’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $410.00, for a total transaction of $952,840.00. Following the transaction, the director directly owned 6,917 shares in the company, valued at $2,835,970. The trade was a 25.15% 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, Chairman Donald J. Umpleby III sold 17,168 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $199,211,839.35. This trade represents a 3.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,819 shares of company stock worth $16,885,492 over the last ninety days. 0.33% of the stock is currently owned by company insiders.

Caterpillar Trading Down 1.7%

NYSE CAT opened at $491.67 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. The firm has a market cap of $230.34 billion, a PE ratio of 25.01, a P/E/G ratio of 2.99 and a beta of 1.46. Caterpillar Inc. has a one year low of $267.30 and a one year high of $511.50. The firm’s fifty day moving average is $443.23 and its two-hundred day moving average is $384.17.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing analysts’ consensus estimates of $4.88 by ($0.16). The business had revenue of $16.57 billion during the quarter, compared to analyst estimates of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.99 earnings per share. Analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

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

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.