Caterpillar Inc. $CAT Holdings Boosted by Teamwork Financial Advisors LLC

Teamwork Financial Advisors LLC raised its stake in Caterpillar Inc. (NYSE:CAT) by 6.7% in the third quarter, Holdings Channel.com reports. The firm owned 15,858 shares of the industrial products company’s stock after acquiring an additional 993 shares during the period. Caterpillar makes up approximately 1.4% of Teamwork Financial Advisors LLC’s holdings, making the stock its 27th largest holding. Teamwork Financial Advisors LLC’s holdings in Caterpillar were worth $12,857,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of CAT. Stonebridge Financial Group LLC raised its position in shares of Caterpillar by 0.7% during the second quarter. Stonebridge Financial Group LLC now owns 1,635 shares of the industrial products company’s stock valued at $1,741,000 after buying an additional 11 shares during the last quarter. Inspirion Wealth Advisors LLC grew its position in Caterpillar by 1.2% during the second quarter. Inspirion Wealth Advisors LLC now owns 944 shares of the industrial products company’s stock worth $936,000 after buying an additional 11 shares in the last quarter. Bell Bank grew its position in Caterpillar by 0.6% during the second quarter. Bell Bank now owns 1,865 shares of the industrial products company’s stock worth $1,986,000 after buying an additional 11 shares in the last quarter. Cornerstone Advisory LLC increased its stake in Caterpillar by 0.7% during the first quarter. Cornerstone Advisory LLC now owns 1,818 shares of the industrial products company’s stock valued at $1,288,000 after acquiring an additional 12 shares during the period. Finally, Sunbeam Capital Management LLC increased its stake in Caterpillar by 1.1% during the first quarter. Sunbeam Capital Management LLC now owns 1,164 shares of the industrial products company’s stock valued at $825,000 after acquiring an additional 13 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CAT. President Capital initiated coverage on Caterpillar in a research report on Friday, September 18th. They issued a “buy” rating and a $999.00 price objective for the company. Robert W. Baird set a $970.00 price objective on Caterpillar in a research report on Wednesday, August 5th. Wells Fargo & Company upped their target price on Caterpillar from $1,050.00 to $1,155.00 and gave the company an “overweight” rating in a research note on Tuesday, June 23rd. Needham & Company LLC set a $980.00 target price on Caterpillar in a research note on Thursday, September 10th. Finally, Freedom Broker raised Caterpillar from a “hold” rating to a “buy” rating and set a $980.00 target price for the company in a research report on Thursday, September 10th. Fifteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $967.83.

Insider Activity at Caterpillar

In related news, CEO Joseph E. Creed sold 32,401 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $808.98, for a total transaction of $26,211,760.98. Following the completion of the transaction, the chief executive officer owned 34,555 shares in the company, valued at $27,954,303.90. This trade represents a 48.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is owned by company insiders.

Caterpillar Price Performance

NYSE CAT traded down $5.80 on Monday, reaching $724.96. The company’s stock had a trading volume of 2,640,740 shares, compared to its average volume of 2,825,382. Caterpillar Inc. has a 52 week low of $510.21 and a 52 week high of $1,073.46. The company has a current ratio of 1.37, a quick ratio of 0.85 and a debt-to-equity ratio of 1.65. The firm has a market cap of $333.25 billion, a PE ratio of 31.19, a price-to-earnings-growth ratio of 1.26 and a beta of 1.58. The business has a 50-day moving average price of $812.24 and a 200 day moving average price of $856.69.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, August 4th. The industrial products company reported $8.17 EPS for the quarter, topping analysts’ consensus estimates of $6.22 by $1.95. The firm had revenue of $20.54 billion during the quarter, compared to analysts’ expectations of $19.34 billion. Caterpillar had a net margin of 14.51% and a return on equity of 55.53%. The company’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same quarter last year, the company earned $4.72 earnings per share. Sell-side analysts expect that Caterpillar Inc. will post 27.49 EPS for the current year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Monday, October 26th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Monday, October 26th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.9%. Caterpillar’s dividend payout ratio is presently 28.06%.

Caterpillar Company Profile

Caterpillar Inc is a manufacturer of construction, mining, and industrial equipment. Its product portfolio includes excavators, bulldozers, wheel loaders, motor graders, articulated trucks, and other machinery used in construction, infrastructure development, mining, quarrying, forestry, and related industries. The company also produces diesel and natural gas engines, industrial gas turbines, generator sets, and other power-generation and transportation equipment.

Caterpillar operates through businesses focused on construction industries, resource industries, and energy and transportation.