Altium Wealth Management LLC Raises Stock Position in Caterpillar Inc. (NYSE:CAT)

Altium Wealth Management LLC increased its stake in Caterpillar Inc. (NYSE:CAT) by 2.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 5,274 shares of the industrial products company’s stock after buying an additional 131 shares during the period. Altium Wealth Management LLC’s holdings in Caterpillar were worth $787,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in Caterpillar by 3.7% in the second quarter. BlackRock Inc. now owns 35,907,749 shares of the industrial products company’s stock worth $4,542,330,000 after purchasing an additional 1,293,131 shares during the last quarter. Fisher Asset Management LLC raised its position in Caterpillar by 3.4% in the second quarter. Fisher Asset Management LLC now owns 5,799,409 shares of the industrial products company’s stock worth $733,625,000 after acquiring an additional 190,262 shares during the period. Bank of New York Mellon Corp raised its position in shares of Caterpillar by 17.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,633,472 shares of the industrial products company’s stock valued at $712,634,000 after purchasing an additional 833,509 shares during the period. Macquarie Group Ltd. raised its position in shares of Caterpillar by 60.1% during the 2nd quarter. Macquarie Group Ltd. now owns 5,295,844 shares of the industrial products company’s stock valued at $669,814,000 after purchasing an additional 1,987,177 shares during the period. Finally, Swiss National Bank raised its position in shares of Caterpillar by 1.4% during the 2nd quarter. Swiss National Bank now owns 2,175,642 shares of the industrial products company’s stock valued at $275,219,000 after purchasing an additional 30,700 shares during the period. Institutional investors own 66.19% of the company’s stock.

Several brokerages have recently commented on CAT. Zacks Investment Research downgraded shares of Caterpillar from a “hold” rating to a “strong sell” rating and set a $130.00 price objective on the stock. in a research report on Tuesday, June 30th. Wells Fargo & Company upgraded shares of Caterpillar from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $160.00 to $220.00 in a research report on Friday, October 16th. Cfra raised shares of Caterpillar to a “buy” rating in a research note on Thursday, July 16th. Bank of America raised shares of Caterpillar from an “underperform” rating to a “neutral” rating in a research note on Wednesday, July 8th. Finally, Credit Suisse Group increased their price objective on shares of Caterpillar from $159.00 to $179.00 and gave the stock an “outperform” rating in a research report on Friday, October 16th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $145.37.

Shares of NYSE:CAT opened at $157.91 on Wednesday. The firm has a market cap of $85.51 billion, a PE ratio of 21.20, a price-to-earnings-growth ratio of 2.68 and a beta of 1.05. The firm’s 50 day simple moving average is $155.62 and its 200-day simple moving average is $134.21. Caterpillar Inc. has a one year low of $87.50 and a one year high of $171.26. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.05 and a current ratio of 1.50.

Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, October 27th. The industrial products company reported $1.34 EPS for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.17. The business had revenue of $9.88 billion for the quarter, compared to analyst estimates of $9.78 billion. Caterpillar had a net margin of 8.90% and a return on equity of 30.52%. The company’s quarterly revenue was down 22.6% compared to the same quarter last year. During the same period last year, the company posted $2.66 earnings per share. Equities research analysts predict that Caterpillar Inc. will post 5.23 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Monday, October 26th will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend is Friday, October 23rd. Caterpillar’s dividend payout ratio (DPR) is presently 37.25%.

In related news, insider Lange Bob De sold 1,575 shares of Caterpillar stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $147.00, for a total transaction of $231,525.00. Following the transaction, the insider now directly owns 30,798 shares of the company’s stock, valued at $4,527,306. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.31% of the company’s stock.

Caterpillar Profile

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines. Its Construction Industries segment offers asphalt pavers, compactors, cold planers, feller bunchers, harvesters, motorgraders, pipelayers, road reclaimers, skidders, telehandlers, and utility vehicles; backhoe, knuckleboom, compact track, multi-terrain, skid steer, and track-type loaders; forestry and wheel excavators; and site prep and track-type tractors.

Read More: Understanding the two types of arbitrage

Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar Inc. (NYSE:CAT).

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

Receive News & Ratings for Caterpillar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar and related companies with MarketBeat.com's FREE daily email newsletter.