Pinnacle Wealth Management Advisory Group LLC bought a new position in Caterpillar Inc. (NYSE:CAT) in the third quarter, according to its most recent filing with the SEC. The firm bought 1,408 shares of the industrial products company’s stock, valued at approximately $215,000.

A number of other hedge funds also recently added to or reduced their stakes in CAT. Assenagon Asset Management S.A. acquired a new stake in Caterpillar in the 2nd quarter worth approximately $1,333,000. James Investment Research Inc. boosted its stake in Caterpillar by 6.8% in the 2nd quarter. James Investment Research Inc. now owns 14,165 shares of the industrial products company’s stock worth $1,922,000 after purchasing an additional 905 shares in the last quarter. Sumitomo Life Insurance Co. boosted its stake in Caterpillar by 4.2% in the 2nd quarter. Sumitomo Life Insurance Co. now owns 14,413 shares of the industrial products company’s stock worth $1,955,000 after purchasing an additional 582 shares in the last quarter. Douglas Lane & Associates LLC boosted its stake in Caterpillar by 7.0% in the 2nd quarter. Douglas Lane & Associates LLC now owns 7,609 shares of the industrial products company’s stock worth $1,032,000 after purchasing an additional 500 shares in the last quarter. Finally, Naples Global Advisors LLC acquired a new stake in Caterpillar in the 2nd quarter worth approximately $242,000. Institutional investors own 66.53% of the company’s stock.

CAT opened at $122.27 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 1.60. Caterpillar Inc. has a 1 year low of $112.06 and a 1 year high of $173.24. The firm has a market capitalization of $74.34 billion, a P/E ratio of 17.77, a PEG ratio of 0.69 and a beta of 1.58.

Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, October 23rd. The industrial products company reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.03. Caterpillar had a net margin of 7.13% and a return on equity of 44.13%. The firm had revenue of $13.51 billion during the quarter, compared to analysts’ expectations of $13.28 billion. During the same period in the previous year, the business posted $1.95 EPS. The business’s revenue was up 18.4% compared to the same quarter last year. As a group, equities research analysts forecast that Caterpillar Inc. will post 11.64 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 20th. Investors of record on Monday, October 22nd were paid a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 2.81%. The ex-dividend date was Friday, October 19th. Caterpillar’s dividend payout ratio is currently 50.00%.

In related news, insider Denise C. Johnson sold 35,051 shares of the business’s stock in a transaction on Tuesday, October 2nd. The shares were sold at an average price of $154.18, for a total value of $5,404,163.18. Following the completion of the transaction, the insider now directly owns 22,826 shares in the company, valued at approximately $3,519,312.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Lange Bob De bought 1,080 shares of the firm’s stock in a transaction that occurred on Friday, October 26th. The stock was purchased at an average price of $115.58 per share, with a total value of $124,826.40. Following the completion of the purchase, the insider now owns 11,310 shares in the company, valued at $1,307,209.80. The disclosure for this purchase can be found here. Insiders own 0.36% of the company’s stock.

A number of analysts recently commented on CAT shares. Cleveland Research reiterated a “hold” rating on shares of Caterpillar in a research note on Friday, October 19th. Citigroup upgraded shares of Caterpillar to an “outperform” rating in a research note on Friday, September 21st. Morgan Stanley set a $169.00 price objective on shares of Caterpillar and gave the company a “buy” rating in a research note on Wednesday, October 24th. Deutsche Bank set a $177.00 price objective on shares of Caterpillar and gave the company a “buy” rating in a research note on Wednesday, September 5th. Finally, ValuEngine cut shares of Caterpillar from a “hold” rating to a “sell” rating in a research note on Thursday, October 18th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $158.55.

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Caterpillar Company Profile

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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