Transcend Capital Advisors LLC Has $1.34 Million Stock Position in Caterpillar Inc. $CAT

Transcend Capital Advisors LLC trimmed its position in Caterpillar Inc. (NYSE:CAT) by 9.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,450 shares of the industrial products company’s stock after selling 374 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Caterpillar were worth $1,339,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CAT. Pacific Point Advisors LLC acquired a new position in shares of Caterpillar in the fourth quarter worth about $579,000. Brighton Jones LLC boosted its holdings in shares of Caterpillar by 51.5% in the fourth quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock worth $2,688,000 after buying an additional 2,519 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Caterpillar by 26.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 133,397 shares of the industrial products company’s stock worth $44,097,000 after buying an additional 27,623 shares during the period. Golden State Wealth Management LLC boosted its holdings in shares of Caterpillar by 7.0% in the first quarter. Golden State Wealth Management LLC now owns 3,558 shares of the industrial products company’s stock worth $1,174,000 after buying an additional 232 shares during the period. Finally, Hills Bank & Trust Co boosted its holdings in shares of Caterpillar by 8.9% in the first quarter. Hills Bank & Trust Co now owns 1,249 shares of the industrial products company’s stock worth $412,000 after buying an additional 102 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the business’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $417.70, for a total value of $902,649.70. Following the sale, the insider owned 8,632 shares of the company’s stock, valued at $3,605,586.40. The trade was a 20.02% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Susan C. Schwab sold 2,324 shares of the business’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the sale, the director owned 6,917 shares in the company, valued at $2,835,970. This represents a 25.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,985 shares of company stock valued at $25,559,300 in the last 90 days. 0.33% of the stock is currently owned by company insiders.

Caterpillar Trading Up 0.8%

Shares of Caterpillar stock opened at $527.12 on Tuesday. The firm has a market capitalization of $246.95 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 2.98 and a beta of 1.46. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. The company’s fifty day moving average price is $466.75 and its two-hundred day moving average price is $401.50. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $544.99.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.88 by ($0.16). The business had revenue of $16.57 billion during the quarter, compared to the consensus estimate of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the firm earned $5.99 EPS. On average, analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be issued a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s payout ratio is 30.72%.

Wall Street Analyst Weigh In

Several analysts recently commented on CAT shares. Weiss Ratings restated a “buy (b)” rating on shares of Caterpillar in a report on Tuesday, October 14th. Oppenheimer raised their price target on shares of Caterpillar from $480.00 to $513.00 and gave the stock an “outperform” rating in a report on Monday, September 29th. Barclays raised their price target on shares of Caterpillar from $425.00 to $485.00 and gave the stock an “equal weight” rating in a report on Friday, October 17th. Royal Bank Of Canada started coverage on shares of Caterpillar in a report on Wednesday, October 22nd. They set a “sector perform” rating and a $560.00 price target for the company. Finally, UBS Group raised their price target on shares of Caterpillar from $450.00 to $506.00 and gave the stock a “neutral” rating in a report on Monday, October 13th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Caterpillar currently has an average rating of “Moderate Buy” and an average price target of $518.19.

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.