RWA Wealth Partners LLC Trims Stock Holdings in Caterpillar Inc. $CAT

RWA Wealth Partners LLC trimmed its stake in Caterpillar Inc. (NYSE:CAT) by 6.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 89,179 shares of the industrial products company’s stock after selling 6,420 shares during the period. RWA Wealth Partners LLC’s holdings in Caterpillar were worth $34,620,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Mid American Wealth Advisory Group Inc. purchased a new stake in Caterpillar during the second quarter worth about $28,000. Family Legacy Financial Solutions LLC purchased a new stake in shares of Caterpillar during the second quarter worth $32,000. Harbor Asset Planning Inc. acquired a new stake in shares of Caterpillar in the second quarter valued at $34,000. Compass Financial Services Inc increased its holdings in Caterpillar by 49.2% during the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 31 shares during the period. Finally, Maseco LLP acquired a new position in shares of Caterpillar during the second quarter worth about $45,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Caterpillar in a report on Tuesday, October 14th. Oppenheimer upped their price target on Caterpillar from $513.00 to $645.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Royal Bank Of Canada initiated coverage on shares of Caterpillar in a report on Wednesday, October 22nd. They set a “sector perform” rating and a $560.00 price objective on the stock. Hsbc Global Res raised shares of Caterpillar from a “hold” rating to a “strong-buy” rating in a research report on Thursday. Finally, Barclays boosted their target price on Caterpillar from $485.00 to $555.00 and gave the company an “equal weight” rating in a report on Thursday, October 30th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $588.94.

Caterpillar Stock Down 1.2%

NYSE CAT opened at $562.82 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 1.34. The business has a 50 day moving average price of $491.77 and a two-hundred day moving average price of $417.84. The stock has a market cap of $263.39 billion, a PE ratio of 28.89, a P/E/G ratio of 3.33 and a beta of 1.51. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $596.21.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $4.95 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $16.72 billion. During the same quarter in the previous year, the company posted $5.17 earnings per share. The firm’s revenue was up 9.5% on a year-over-year basis. As a group, sell-side analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders 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 yield of 1.1%. Caterpillar’s dividend payout ratio (DPR) is presently 31.01%.

Insider Activity

In related news, Director David Maclennan acquired 300 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The shares were acquired at an average cost of $568.86 per share, with a total value of $170,658.00. Following the purchase, the director owned 7,947 shares of the company’s stock, valued at approximately $4,520,730.42. The trade was a 3.92% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lange Bob De sold 14,638 shares of the business’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $562.36, for a total transaction of $8,231,825.68. Following the transaction, the insider directly owned 80,209 shares in the company, valued at $45,106,333.24. This trade represents a 15.43% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 71,823 shares of company stock valued at $34,477,790. 0.33% of the stock is currently owned by company 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.