Ethos Financial Group LLC Sells 3,022 Shares of Caterpillar Inc. $CAT

Ethos Financial Group LLC cut its stake in Caterpillar Inc. (NYSE:CAT) by 54.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,504 shares of the industrial products company’s stock after selling 3,022 shares during the period. Ethos Financial Group LLC’s holdings in Caterpillar were worth $972,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Mid American Wealth Advisory Group Inc. purchased a new stake in Caterpillar in the second quarter worth $28,000. Compass Financial Services Inc boosted its holdings in shares of Caterpillar by 49.2% during the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock valued at $31,000 after buying an additional 31 shares in the last quarter. Family Legacy Financial Solutions LLC purchased a new stake in shares of Caterpillar in the 2nd quarter worth about $32,000. Harbor Asset Planning Inc. bought a new position in shares of Caterpillar in the 2nd quarter worth about $34,000. Finally, Total Wealth Planning & Management Inc. purchased a new position in Caterpillar during the 2nd quarter valued at about $38,000. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

Shares of NYSE CAT opened at $569.51 on Friday. The firm’s 50-day moving average price is $488.91 and its 200-day moving average price is $415.91. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $596.21. The company has a market cap of $266.80 billion, a PE ratio of 29.24, a PEG ratio of 3.33 and a beta of 1.51. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 1.34.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share for the quarter, beating the consensus estimate of $4.52 by $0.43. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The firm 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 company earned $5.17 earnings per share. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. As a group, analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Monday, October 20th. Caterpillar’s dividend payout ratio (DPR) is 31.01%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Robert W. Baird raised their target price on shares of Caterpillar from $612.00 to $680.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Caterpillar in a research report on Tuesday, October 14th. Citigroup increased their price objective on shares of Caterpillar from $570.00 to $670.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Bank of America lifted their target price on shares of Caterpillar from $594.00 to $650.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Finally, Erste Group Bank upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $588.94.

Insider Buying and Selling

In related news, Director Susan C. Schwab sold 2,324 shares of the company’s 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 sale, the director owned 6,917 shares in the company, valued at approximately $2,835,970. This represents a 25.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO William E. Schaupp sold 1,200 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $572.22, for a total value of $686,664.00. Following the completion of the transaction, the chief accounting officer directly owned 1,323 shares in the company, valued at $757,047.06. The trade was a 47.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 57,185 shares of company stock valued at $26,245,964 over the last ninety days. 0.33% of the stock is owned by insiders.

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.