Daymark Wealth Partners LLC Sells 103 Shares of Caterpillar Inc. $CAT

Daymark Wealth Partners LLC lowered its position in shares of Caterpillar Inc. (NYSE:CAT) by 1.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,347 shares of the industrial products company’s stock after selling 103 shares during the period. Daymark Wealth Partners LLC’s holdings in Caterpillar were worth $3,240,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Caterpillar in the second quarter worth about $28,000. Compass Financial Services Inc increased its holdings in shares of Caterpillar by 49.2% in the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after buying an additional 31 shares during the period. Family Legacy Financial Solutions LLC purchased a new position in shares of Caterpillar in the second quarter worth about $32,000. Redmont Wealth Advisors LLC purchased a new position in shares of Caterpillar in the first quarter worth about $33,000. Finally, Harbor Asset Planning Inc. purchased a new position in shares of Caterpillar in the second quarter worth about $34,000. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Up 11.9%

Shares of NYSE:CAT opened at $586.77 on Thursday. The firm has a market capitalization of $274.89 billion, a P/E ratio of 29.85, a P/E/G ratio of 2.99 and a beta of 1.46. 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 stock has a 50 day moving average price of $472.25 and a 200-day moving average price of $405.20. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $596.21.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share for the quarter, beating the consensus estimate of $4.52 by $0.43. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The company had revenue of $17.64 billion for the quarter, compared to analyst estimates of $16.72 billion. During the same period in the previous year, the company posted $5.17 earnings per share. The firm’s revenue was up 9.5% on a year-over-year basis. As a group, equities research analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be given a dividend of $1.51 per share. The ex-dividend date is Monday, October 20th. This represents a $6.04 annualized dividend and a dividend yield of 1.0%. Caterpillar’s payout ratio is currently 30.72%.

Insider Activity at Caterpillar

In related news, Director Susan C. Schwab sold 2,324 shares of Caterpillar stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $410.00, for a total transaction of $952,840.00. Following the sale, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,166 shares of Caterpillar stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $505.29, for a total value of $8,673,808.14. Following the sale, the chairman owned 448,173 shares in the company, valued at $226,457,335.17. This represents a 3.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 55,985 shares of company stock worth $25,559,300 over the last ninety days. 0.33% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently commented on CAT. Melius upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price objective on the stock in a report on Wednesday, July 9th. Citigroup lifted their price objective on Caterpillar from $540.00 to $570.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Jefferies Financial Group boosted their price target on Caterpillar from $500.00 to $570.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Bank of America boosted their price target on Caterpillar from $517.00 to $594.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Finally, Melius Research upgraded Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price target on the stock in a report on Wednesday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Caterpillar has a consensus rating of “Moderate Buy” and an average target price of $518.19.

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.