Caterpillar Inc. (NYSE:CAT) Shares Sold by Financial Advocates Investment Management

Financial Advocates Investment Management decreased its position in Caterpillar Inc. (NYSE:CAT) by 21.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,058 shares of the industrial products company’s stock after selling 4,400 shares during the quarter. Financial Advocates Investment Management’s holdings in Caterpillar were worth $4,748,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CAT. Partnership Wealth Management LLC acquired a new stake in shares of Caterpillar during the 4th quarter worth approximately $26,000. Gilfoyle & Co LLC bought a new stake in Caterpillar in the fourth quarter valued at $30,000. Fortitude Family Office LLC acquired a new position in shares of Caterpillar during the fourth quarter valued at $39,000. Atlantic Edge Private Wealth Management LLC bought a new position in shares of Caterpillar during the fourth quarter worth about $40,000. Finally, Authentikos Wealth Advisory LLC acquired a new stake in shares of Caterpillar in the 3rd quarter worth about $41,000. 70.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wells Fargo & Company upped their target price on shares of Caterpillar from $290.00 to $325.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. Evercore ISI cut Caterpillar from an “outperform” rating to an “in-line” rating and increased their price target for the stock from $321.00 to $338.00 in a research note on Tuesday, February 20th. The Goldman Sachs Group upped their price objective on shares of Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. raised their target price on shares of Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. Finally, Robert W. Baird increased their price objective on shares of Caterpillar from $210.00 to $257.00 and gave the company an “underperform” rating in a report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Caterpillar has an average rating of “Hold” and a consensus price target of $323.35.

Insider Activity at Caterpillar

In related news, Director David Maclennan bought 350 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was bought at an average price of $323.37 per share, for a total transaction of $113,179.50. Following the transaction, the director now directly owns 5,238 shares in the company, valued at $1,693,812.06. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Lange Bob De sold 21,847 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $356.90, for a total transaction of $7,797,194.30. Following the transaction, the insider now owns 71,115 shares of the company’s stock, valued at $25,380,943.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David Maclennan bought 350 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was acquired at an average cost of $323.37 per share, with a total value of $113,179.50. Following the completion of the transaction, the director now directly owns 5,238 shares of the company’s stock, valued at $1,693,812.06. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by insiders.

Caterpillar Trading Up 1.6 %

Caterpillar stock traded up $5.55 during midday trading on Friday, reaching $356.27. The stock had a trading volume of 2,104,332 shares, compared to its average volume of 2,684,896. The firm’s fifty day simple moving average is $355.48 and its two-hundred day simple moving average is $310.80. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.35 and a quick ratio of 0.83. Caterpillar Inc. has a twelve month low of $205.60 and a twelve month high of $382.01. The firm has a market cap of $174.23 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 1.52 and a beta of 1.19.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share for the quarter, beating analysts’ consensus estimates of $5.12 by $0.48. The business had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $16.07 billion. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. Equities analysts anticipate that Caterpillar Inc. will post 21.8 EPS for the current fiscal year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, April 22nd will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Friday, April 19th. Caterpillar’s dividend payout ratio is currently 23.48%.

Caterpillar 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.