Catalyst Capital Advisors LLC Buys 380 Shares of Caterpillar Inc. $CAT

Catalyst Capital Advisors LLC lifted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 72.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 907 shares of the industrial products company’s stock after buying an additional 380 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Caterpillar were worth $352,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of CAT. Mid American Wealth Advisory Group Inc. bought a new position in shares of Caterpillar in the 2nd quarter worth $28,000. Compass Financial Services Inc lifted its stake 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 acquiring an additional 31 shares in the last quarter. Family Legacy Financial Solutions LLC bought a new position in Caterpillar during the 2nd quarter valued at $32,000. Redmont Wealth Advisors LLC bought a new position in Caterpillar during the 1st quarter valued at $33,000. Finally, Harbor Asset Planning Inc. bought a new position in Caterpillar during the 2nd quarter valued at $34,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CAT shares. JPMorgan Chase & Co. raised their price objective on Caterpillar from $505.00 to $650.00 and gave the company an “overweight” rating in a research note on Tuesday, October 14th. Royal Bank Of Canada initiated coverage on Caterpillar in a report on Wednesday. They set a “sector perform” rating and a $560.00 target price for the company. Robert W. Baird lifted their target price on Caterpillar from $540.00 to $612.00 in a report on Monday, October 20th. Evercore ISI upgraded Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price target for the company in a research report on Tuesday, August 19th. Finally, Melius raised Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price objective for the company in a report on Wednesday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, Caterpillar currently has an average rating of “Moderate Buy” and an average price target of $518.19.

Insiders Place Their Bets

In related news, insider Jason Kaiser sold 2,161 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $3,605,586.40. This represents a 20.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Donald J. Umpleby III sold 17,166 shares of the stock in a transaction dated 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 completion of the transaction, the chairman directly 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. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,985 shares of company stock worth $25,559,300. 0.33% of the stock is currently owned by company insiders.

Caterpillar Trading Up 0.3%

Caterpillar stock opened at $522.13 on Friday. The stock has a market capitalization of $244.61 billion, a PE ratio of 26.56, a price-to-earnings-growth ratio of 2.96 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. The business’s fifty day moving average is $464.46 and its 200 day moving average is $398.36. Caterpillar Inc. has a one year low of $267.30 and a one year high of $544.99.

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 the consensus estimate of $4.88 by ($0.16). The company 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 quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the business earned $5.99 EPS. On average, sell-side analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be issued a dividend of $1.51 per share. 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 payout ratio is presently 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.