Wealthfront Advisers LLC Has $52.97 Million Stock Position in Caterpillar Inc. $CAT

Wealthfront Advisers LLC boosted its position in Caterpillar Inc. (NYSE:CAT) by 6.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 74,764 shares of the industrial products company’s stock after acquiring an additional 4,414 shares during the period. Wealthfront Advisers LLC’s holdings in Caterpillar were worth $52,967,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. NerdWallet Wealth Partners LLC bought a new stake in shares of Caterpillar during the first quarter valued at approximately $231,000. Twin Capital Management Inc. lifted its holdings in shares of Caterpillar by 8.3% in the 1st quarter. Twin Capital Management Inc. now owns 9,468 shares of the industrial products company’s stock worth $6,708,000 after purchasing an additional 725 shares in the last quarter. Illinois Municipal Retirement Fund grew its position in Caterpillar by 8.1% in the 1st quarter. Illinois Municipal Retirement Fund now owns 27,038 shares of the industrial products company’s stock valued at $19,155,000 after purchasing an additional 2,025 shares during the period. Three Seasons Wealth LLC increased its stake in Caterpillar by 24.8% during the 1st quarter. Three Seasons Wealth LLC now owns 1,485 shares of the industrial products company’s stock valued at $1,052,000 after purchasing an additional 295 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. increased its stake in Caterpillar by 39,253.7% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 16,135 shares of the industrial products company’s stock valued at $11,431,000 after purchasing an additional 16,094 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Transactions at Caterpillar

In related news, insider Anthony D. Fassino sold 16,283 shares of Caterpillar stock in a transaction on Monday, May 11th. The stock was sold at an average price of $916.80, for a total transaction of $14,928,254.40. Following the completion of the sale, the insider owned 46,041 shares of the company’s stock, valued at approximately $42,210,388.80. This trade represents a 26.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Andrew R. J. Bonfield sold 15,674 shares of the business’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $918.71, for a total value of $14,399,860.54. Following the transaction, the chief financial officer owned 52,935 shares of the company’s stock, valued at approximately $48,631,913.85. The trade was a 22.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 95,773 shares of company stock worth $87,642,635. 0.33% of the stock is owned by corporate insiders.

Caterpillar Stock Performance

NYSE:CAT opened at $914.19 on Thursday. The company has a market capitalization of $421.07 billion, a P/E ratio of 45.50, a P/E/G ratio of 1.83 and a beta of 1.57. The business has a fifty day simple moving average of $931.98 and a two-hundred day simple moving average of $790.77. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 0.81. Caterpillar Inc. has a 1 year low of $403.32 and a 1 year high of $1,073.46.

Caterpillar (NYSE:CAT) last posted its earnings results on Thursday, April 30th. The industrial products company reported $5.54 earnings per share for the quarter, topping the consensus estimate of $4.65 by $0.89. Caterpillar had a net margin of 13.33% and a return on equity of 48.21%. The firm had revenue of $17.41 billion during the quarter, compared to the consensus estimate of $16.53 billion. During the same quarter last year, the company earned $4.25 earnings per share. The company’s revenue was up 22.2% on a year-over-year basis. On average, analysts expect that Caterpillar Inc. will post 24.85 earnings per share for the current year.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Monday, July 20th will be paid a $1.63 dividend. The ex-dividend date is Monday, July 20th. This represents a $6.52 annualized dividend and a yield of 0.7%. This is a boost from Caterpillar’s previous quarterly dividend of $1.51. Caterpillar’s dividend payout ratio is currently 30.06%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CAT shares. UBS Group reaffirmed a “neutral” rating and issued a $900.00 price objective on shares of Caterpillar in a research note on Tuesday, June 2nd. Wells Fargo & Company boosted their target price on shares of Caterpillar from $1,050.00 to $1,155.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 23rd. Zacks Research raised shares of Caterpillar from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 8th. Wolfe Research lifted their price target on Caterpillar from $670.00 to $750.00 and gave the company an “outperform” rating in a research note on Tuesday, March 31st. Finally, Robert W. Baird boosted their price objective on Caterpillar from $1,165.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, Caterpillar currently has an average rating of “Moderate Buy” and a consensus price target of $980.57.

Caterpillar 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.