HBK Sorce Advisory LLC Has $3.67 Million Stock Position in Caterpillar Inc. $CAT

HBK Sorce Advisory LLC lifted its position in Caterpillar Inc. (NYSE:CAT) by 0.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 9,440 shares of the industrial products company’s stock after purchasing an additional 31 shares during the period. HBK Sorce Advisory LLC’s holdings in Caterpillar were worth $3,665,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Valeo Financial Advisors LLC raised its stake in Caterpillar by 36,842.1% during the 2nd quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock valued at $2,833,836,000 after purchasing an additional 7,279,991 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Caterpillar by 6.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,204,445 shares of the industrial products company’s stock valued at $1,386,626,000 after purchasing an additional 264,054 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Caterpillar by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company’s stock valued at $1,089,798,000 after purchasing an additional 15,347 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Caterpillar by 9.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company’s stock valued at $1,064,951,000 after purchasing an additional 268,300 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Caterpillar by 5.0% during the 1st quarter. Invesco Ltd. now owns 3,141,936 shares of the industrial products company’s stock valued at $1,036,211,000 after purchasing an additional 150,533 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the sale, the insider owned 8,632 shares of the company’s stock, valued at $3,605,586.40. This represents a 20.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of the stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $410.00, for a total transaction of $952,840.00. Following the sale, the director directly owned 6,917 shares in the company, valued at approximately $2,835,970. This represents a 25.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 55,985 shares of company stock worth $25,559,300 in the last quarter. 0.33% of the stock is owned by corporate insiders.

Caterpillar Trading Up 11.9%

Shares of Caterpillar stock opened at $586.77 on Thursday. The stock has a market capitalization of $274.89 billion, a P/E ratio of 29.85, a price-to-earnings-growth ratio of 2.99 and a beta of 1.46. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. The company has a 50-day simple moving average of $472.25 and a 200 day simple moving average of $405.20. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $596.21.

Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.52 by $0.43. The business had revenue of $17.64 billion during the quarter, compared to analysts’ expectations of $16.72 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the company posted $5.17 EPS. Research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be given a dividend of $1.51 per share. The ex-dividend date is Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.0%. Caterpillar’s dividend payout ratio (DPR) is 30.72%.

Analyst Upgrades and Downgrades

Several research firms recently commented on CAT. Weiss Ratings reiterated a “buy (b)” rating on shares of Caterpillar in a research note on Tuesday, October 14th. Bank of America upped their target price on shares of Caterpillar from $517.00 to $594.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Evercore ISI upgraded shares of Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price objective for the company in a research note on Tuesday, August 19th. Barclays lifted their target price on shares of Caterpillar from $425.00 to $485.00 and gave the company an “equal weight” rating in a research report on Friday, October 17th. Finally, Royal Bank Of Canada started coverage on shares of Caterpillar in a research report on Wednesday, October 22nd. They issued a “sector perform” rating and a $560.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.