Avantax Planning Partners Inc. Has $4.02 Million Stake in Caterpillar Inc. (NYSE:CAT)

Avantax Planning Partners Inc. trimmed its holdings in Caterpillar Inc. (NYSE:CATGet Rating) by 1.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,042 shares of the industrial products company’s stock after selling 313 shares during the period. Avantax Planning Partners Inc.’s holdings in Caterpillar were worth $4,020,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Crewe Advisors LLC boosted its position in shares of Caterpillar by 322.6% during the fourth quarter. Crewe Advisors LLC now owns 131 shares of the industrial products company’s stock worth $27,000 after buying an additional 100 shares during the period. Nauset Wealth Management. LLC bought a new stake in Caterpillar during the first quarter worth about $29,000. Arcadia Investment Management Corp MI bought a new stake in Caterpillar during the first quarter worth about $33,000. Sierra Capital LLC bought a new stake in Caterpillar during the fourth quarter worth about $38,000. Finally, IMA Wealth Inc. bought a new stake in Caterpillar during the fourth quarter worth about $41,000. 67.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CAT. UBS Group dropped their target price on Caterpillar from $250.00 to $225.00 and set a “buy” rating on the stock in a report on Wednesday. Credit Suisse Group upped their price objective on Caterpillar from $226.00 to $236.00 and gave the company an “outperform” rating in a research note on Wednesday. Wells Fargo & Company dropped their price objective on Caterpillar from $230.00 to $205.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Robert W. Baird restated an “outperform” rating and issued a $280.00 price objective on shares of Caterpillar in a research note on Thursday, May 19th. Finally, Cowen dropped their price objective on Caterpillar from $255.00 to $225.00 and set an “outperform” rating on the stock in a research note on Thursday, July 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $225.27.

Insider Transactions at Caterpillar

In related news, insider Joseph E. Creed sold 2,757 shares of the company’s stock in a transaction that occurred on Wednesday, May 18th. The stock was sold at an average price of $214.13, for a total value of $590,356.41. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.27% of the company’s stock.

Caterpillar Price Performance

NYSE CAT traded up $1.75 during trading on Friday, hitting $185.39. 1,908,521 shares of the company’s stock were exchanged, compared to its average volume of 2,879,295. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 1.66. The company has a market cap of $97.87 billion, a PE ratio of 14.83, a P/E/G ratio of 1.21 and a beta of 1.01. Caterpillar Inc. has a fifty-two week low of $167.08 and a fifty-two week high of $237.90. The stock’s 50 day moving average price is $191.68 and its two-hundred day moving average price is $203.92.

Caterpillar (NYSE:CATGet Rating) last released its quarterly earnings results on Tuesday, August 2nd. The industrial products company reported $3.18 earnings per share for the quarter, topping the consensus estimate of $3.01 by $0.17. The company had revenue of $14.25 billion for the quarter, compared to analysts’ expectations of $14.39 billion. Caterpillar had a return on equity of 37.29% and a net margin of 12.50%. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.60 earnings per share. Research analysts expect that Caterpillar Inc. will post 12.7 EPS for the current year.

Caterpillar Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 19th. Stockholders of record on Wednesday, July 20th will be issued a dividend of $1.20 per share. This is a boost from Caterpillar’s previous quarterly dividend of $1.11. This represents a $4.80 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Tuesday, July 19th. Caterpillar’s payout ratio is 38.40%.

Caterpillar Profile

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Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines worldwide. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact track and multi-terrain loaders, excavators, motorgraders, pipelayers, road reclaimers, site prep tractors, skid steer loaders, telehandlers, and utility vehicles; mini, small, medium, and large excavators; compact, small, and medium wheel loaders; track-type tractors and loaders; and wheel excavators.

See Also

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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