Wealthcare Advisory Partners LLC Reduces Stock Holdings in Caterpillar Inc. $CAT

Wealthcare Advisory Partners LLC reduced its position in shares of Caterpillar Inc. (NYSE:CAT) by 26.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,613 shares of the industrial products company’s stock after selling 4,187 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Caterpillar were worth $12,367,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Axxcess Wealth Management LLC raised its position in Caterpillar by 2.8% in the fourth quarter. Axxcess Wealth Management LLC now owns 22,420 shares of the industrial products company’s stock valued at $12,844,000 after purchasing an additional 604 shares during the period. Juno Financial Group LLC purchased a new position in shares of Caterpillar during the 4th quarter worth $877,000. DSG Capital Advisors LLC purchased a new position in shares of Caterpillar during the 1st quarter worth $1,226,000. Cornerstone Planning LLC acquired a new stake in shares of Caterpillar during the 4th quarter worth about $4,517,000. Finally, Ticino Wealth purchased a new stake in Caterpillar in the 4th quarter valued at about $2,488,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Caterpillar

In related news, insider Denise C. Johnson sold 12,605 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $907.91, for a total value of $11,444,205.55. Following the completion of the sale, the insider directly owned 49,825 shares of the company’s stock, valued at $45,236,615.75. The trade was a 20.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO William E. Schaupp sold 360 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $906.00, for a total value of $326,160.00. Following the transaction, the chief accounting officer directly owned 530 shares in the company, valued at approximately $480,180. The trade was a 40.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 19,161 shares of company stock worth $17,407,424 over the last quarter. 0.33% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CAT has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Caterpillar in a research note on Wednesday, August 5th. Citigroup raised their price target on shares of Caterpillar from $1,020.00 to $1,100.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Royal Bank Of Canada upped their price objective on Caterpillar from $877.00 to $897.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 5th. Truist Financial set a $980.00 price objective on Caterpillar in a research note on Wednesday, August 5th. Finally, Argus boosted their target price on Caterpillar from $820.00 to $990.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, Caterpillar has a consensus rating of “Moderate Buy” and a consensus target price of $995.52.

Caterpillar Stock Down 0.7%

Caterpillar stock opened at $836.29 on Tuesday. The stock’s fifty day moving average is $920.45 and its two-hundred day moving average is $821.82. The stock has a market cap of $384.42 billion, a PE ratio of 35.98, a P/E/G ratio of 1.52 and a beta of 1.60. Caterpillar Inc. has a 1-year low of $405.46 and a 1-year high of $1,073.46. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.37 and a quick ratio of 0.85.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Tuesday, August 4th. The industrial products company reported $8.17 EPS for the quarter, beating analysts’ consensus estimates of $6.22 by $1.95. The business had revenue of $20.54 billion for the quarter, compared to the consensus estimate of $19.34 billion. Caterpillar had a return on equity of 55.53% and a net margin of 14.51%.The business’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.72 EPS. On average, sell-side analysts expect that Caterpillar Inc. will post 26.3 EPS for the current fiscal year.

Caterpillar Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Monday, July 20th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Monday, July 20th. This is a positive change from Caterpillar’s previous quarterly dividend of $1.51. Caterpillar’s dividend payout ratio (DPR) is currently 28.06%.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.