Perfromance Wealth Partners LLC Raises Holdings in Caterpillar Inc. $CAT

Perfromance Wealth Partners LLC grew its position in shares of Caterpillar Inc. (NYSE:CAT) by 5.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,581 shares of the industrial products company’s stock after purchasing an additional 190 shares during the period. Perfromance Wealth Partners LLC’s holdings in Caterpillar were worth $1,390,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Compass Financial Services Inc grew its position in shares of Caterpillar by 49.2% during the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 31 shares in the last quarter. Family Legacy Financial Solutions LLC purchased a new position in shares of Caterpillar during the second quarter valued at about $32,000. Redmont Wealth Advisors LLC purchased a new position in shares of Caterpillar during the first quarter valued at about $33,000. Total Wealth Planning & Management Inc. purchased a new position in shares of Caterpillar during the second quarter valued at about $38,000. Finally, Fiduciary Wealth Partners LLC bought a new position in shares of Caterpillar in the 1st quarter valued at about $45,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CAT shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Caterpillar in a report on Saturday, September 27th. Truist Financial increased their price target on shares of Caterpillar from $507.00 to $582.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Robert W. Baird increased their price target on shares of Caterpillar from $495.00 to $540.00 and gave the company an “outperform” rating in a report on Wednesday, September 17th. Bank of America increased their price target on shares of Caterpillar from $495.00 to $517.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Finally, Citigroup increased their price target on shares of Caterpillar from $540.00 to $570.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $488.13.

Insider Transactions at Caterpillar

In other news, Chairman Donald J. Umpleby III sold 17,168 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the transaction, the chairman directly owned 482,505 shares of the company’s stock, valued at approximately $199,211,839.35. This trade represents a 3.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jason Kaiser sold 2,161 shares of the firm’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 transaction, the insider directly owned 8,632 shares in the company, valued at approximately $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. Over the last three months, insiders have sold 38,819 shares of company stock valued at $16,885,492. 0.33% of the stock is currently owned by company insiders.

Caterpillar Stock Up 2.8%

Shares of NYSE CAT opened at $505.11 on Tuesday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. The company has a market cap of $236.64 billion, a P/E ratio of 25.69, a PEG ratio of 3.01 and a beta of 1.46. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $511.50. The firm has a 50-day simple moving average of $444.65 and a two-hundred day simple moving average of $385.71.

Caterpillar (NYSE:CAT) last announced 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). The firm had revenue of $16.57 billion during the quarter, compared to the consensus estimate of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The firm’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the previous year, the business earned $5.99 EPS. Research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

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

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.