Transcend Capital Advisors LLC Has $1.34 Million Stock Holdings in Caterpillar Inc. $CAT

Transcend Capital Advisors LLC lessened its position in Caterpillar Inc. (NYSE:CAT) by 9.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,450 shares of the industrial products company’s stock after selling 374 shares during the period. Transcend Capital Advisors LLC’s holdings in Caterpillar were worth $1,339,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in CAT. Mid American Wealth Advisory Group Inc. bought a new stake in Caterpillar during the 2nd quarter worth about $28,000. Compass Financial Services Inc lifted its position in Caterpillar by 49.2% during the 1st 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 during the period. Family Legacy Financial Solutions LLC acquired a new position in Caterpillar during the 2nd quarter valued at about $32,000. Redmont Wealth Advisors LLC acquired a new position in Caterpillar during the 1st quarter valued at about $33,000. Finally, Harbor Asset Planning Inc. acquired a new position in Caterpillar during the 2nd quarter valued at about $34,000. Institutional investors own 70.98% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on CAT. JPMorgan Chase & Co. upped their price target on Caterpillar from $505.00 to $650.00 and gave the company an “overweight” rating in a research note on Tuesday, October 14th. Barclays upped their price target on Caterpillar from $425.00 to $485.00 and gave the company an “equal weight” rating in a research note on Friday, October 17th. Melius Research raised Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price target for the company in a research note on Wednesday, July 9th. Citigroup upped their price target on Caterpillar from $540.00 to $570.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Finally, Evercore ISI raised Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 target price for the company in a research note on Tuesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $518.19.

Caterpillar Stock Performance

CAT opened at $527.12 on Tuesday. The business’s 50-day moving average price is $466.75 and its two-hundred day moving average price is $401.50. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $544.99. The company has a market capitalization of $246.95 billion, a price-to-earnings ratio of 26.81, a P/E/G ratio of 2.98 and a beta of 1.46. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing the consensus estimate of $4.88 by ($0.16). The business had revenue of $16.57 billion for 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%.Caterpillar’s revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the business earned $5.99 earnings per share. Equities analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

The firm 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 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s dividend payout ratio (DPR) is currently 30.72%.

Insider Transactions at Caterpillar

In other news, insider Jason Kaiser sold 2,161 shares of the firm’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 transaction of $902,649.70. Following the completion of the transaction, the insider directly owned 8,632 shares of the company’s stock, valued at $3,605,586.40. This trade represents a 20.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the firm’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 directly owned 482,505 shares of the company’s stock, valued at $199,211,839.35. This represents a 3.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,985 shares of company stock valued at $25,559,300 in the last ninety days. 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.