Stenger Family Office LLC Invests $2.88 Million in Caterpillar Inc. $CAT

Stenger Family Office LLC acquired a new position in Caterpillar Inc. (NYSE:CAT) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 7,411 shares of the industrial products company’s stock, valued at approximately $2,877,000.

Several other large investors have also modified their holdings of CAT. Aire Advisors LLC lifted its stake in shares of Caterpillar by 0.3% during the 2nd quarter. Aire Advisors LLC now owns 9,042 shares of the industrial products company’s stock worth $3,510,000 after acquiring an additional 25 shares during the last quarter. Dumont & Blake Investment Advisors LLC increased its stake in Caterpillar by 0.5% in the second quarter. Dumont & Blake Investment Advisors LLC now owns 4,954 shares of the industrial products company’s stock worth $1,923,000 after purchasing an additional 25 shares during the period. Redwood Wealth Management Group LLC lifted its position in shares of Caterpillar by 0.9% during the second quarter. Redwood Wealth Management Group LLC now owns 2,669 shares of the industrial products company’s stock worth $1,036,000 after purchasing an additional 25 shares during the last quarter. Tsfg LLC boosted its stake in shares of Caterpillar by 9.8% during the second quarter. Tsfg LLC now owns 279 shares of the industrial products company’s stock valued at $108,000 after purchasing an additional 25 shares during the period. Finally, GSB Wealth Management LLC grew its holdings in shares of Caterpillar by 1.2% in the second quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company’s stock worth $832,000 after purchasing an additional 26 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

Shares of CAT stock opened at $603.27 on Friday. The stock’s 50-day moving average is $542.45 and its 200 day moving average is $451.75. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $607.00. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.38 and a quick ratio of 0.86. The company has a market cap of $282.32 billion, a P/E ratio of 30.97, a PEG ratio of 2.82 and a beta of 1.57.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $4.95 EPS for the quarter, beating the consensus estimate of $4.52 by $0.43. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The business had revenue of $17.64 billion during the quarter, compared to analyst estimates of $16.72 billion. During the same period in the prior year, the firm posted $5.17 earnings per share. The company’s quarterly revenue was up 9.5% on a year-over-year basis. Research analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Monday, October 20th were issued a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Monday, October 20th. Caterpillar’s dividend payout ratio (DPR) is currently 31.01%.

Insider Buying and Selling

In other news, Director David Maclennan bought 300 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The shares were purchased at an average cost of $568.86 per share, with a total value of $170,658.00. Following the transaction, the director directly owned 7,947 shares in the company, valued at approximately $4,520,730.42. The trade was a 3.92% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Anthony D. Fassino sold 8,184 shares of the stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $570.18, for a total value of $4,666,353.12. Following the completion of the transaction, the insider directly owned 41,512 shares in the company, valued at $23,669,312.16. This represents a 16.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 79,061 shares of company stock worth $41,949,366 over the last ninety days. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on CAT shares. Barclays boosted their price objective on shares of Caterpillar from $485.00 to $555.00 and gave the company an “equal weight” rating in a research report on Thursday, October 30th. Morgan Stanley lifted their price target on shares of Caterpillar from $350.00 to $380.00 and gave the company an “underweight” rating in a research note on Thursday, October 30th. DA Davidson increased their price objective on Caterpillar from $408.00 to $569.00 and gave the stock a “neutral” rating in a research note on Monday, November 3rd. Argus lifted their target price on Caterpillar from $460.00 to $625.00 and gave the company a “buy” rating in a research report on Wednesday, November 19th. Finally, Hsbc Global Res upgraded Caterpillar from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Caterpillar has a consensus rating of “Moderate Buy” and an average target price of $610.32.

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.