Mission Wealth Management LP Decreases Holdings in Caterpillar Inc. $CAT

Mission Wealth Management LP trimmed its stake in Caterpillar Inc. (NYSE:CAT) by 1.3% during the second quarter, Holdings Channel reports. The fund owned 10,479 shares of the industrial products company’s stock after selling 133 shares during the period. Mission Wealth Management LP’s holdings in Caterpillar were worth $4,068,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Aire Advisors LLC grew its holdings in Caterpillar by 0.3% during the second quarter. Aire Advisors LLC now owns 9,042 shares of the industrial products company’s stock valued at $3,510,000 after purchasing an additional 25 shares during the period. Dumont & Blake Investment Advisors LLC raised its stake in shares of Caterpillar by 0.5% in the second quarter. Dumont & Blake Investment Advisors LLC now owns 4,954 shares of the industrial products company’s stock valued at $1,923,000 after buying an additional 25 shares during the period. GSB Wealth Management LLC grew its stake in shares of Caterpillar by 1.2% during the 2nd quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company’s stock worth $832,000 after acquiring an additional 26 shares during the period. Verum Partners LLC increased its holdings in Caterpillar by 2.5% in the 2nd quarter. Verum Partners LLC now owns 1,059 shares of the industrial products company’s stock worth $411,000 after acquiring an additional 26 shares during the last quarter. Finally, UNIVEST FINANCIAL Corp raised its stake in Caterpillar by 0.6% in the 2nd quarter. UNIVEST FINANCIAL Corp now owns 4,283 shares of the industrial products company’s stock valued at $1,663,000 after acquiring an additional 26 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Down 0.8%

Caterpillar stock opened at $578.28 on Monday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.81 and a current ratio of 1.38. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $596.21. The stock has a market cap of $270.91 billion, a P/E ratio of 29.69, a PEG ratio of 3.33 and a beta of 1.46. The firm’s fifty day moving average price is $478.42 and its 200-day moving average price is $410.02.

Caterpillar (NYSE:CAT) last posted its earnings results on Wednesday, October 29th. The industrial products company reported $4.95 EPS for the quarter, topping the consensus estimate of $4.52 by $0.43. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The business had revenue of $17.64 billion during the quarter, compared to analysts’ expectations of $16.72 billion. During the same period in the previous year, the business earned $5.17 earnings per share. The firm’s revenue was up 9.5% on a year-over-year basis. Equities research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be given a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Monday, October 20th. Caterpillar’s dividend payout ratio is 31.01%.

Insider Activity at Caterpillar

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the sale, the insider directly owned 8,632 shares in the company, valued at $3,605,586.40. The trade was a 20.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the transaction, the director directly owned 6,917 shares in the company, valued at $2,835,970. The trade was a 25.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 55,985 shares of company stock valued at $25,559,300 over the last three months. 0.33% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Truist Financial reiterated a “buy” rating and issued a $729.00 target price (up previously from $582.00) on shares of Caterpillar in a research note on Thursday. UBS Group lifted their price objective on shares of Caterpillar from $450.00 to $506.00 and gave the company a “neutral” rating in a research note on Monday, October 13th. Erste Group Bank raised shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Jefferies Financial Group raised their price target on Caterpillar from $500.00 to $570.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Finally, Morgan Stanley boosted their price objective on Caterpillar from $350.00 to $380.00 and gave the company an “underweight” rating in a research note on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Caterpillar has an average rating of “Moderate Buy” and an average price target of $568.50.

Caterpillar Company 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.