Concurrent Investment Advisors LLC Boosts Stock Position in Caterpillar Inc. (NYSE:CAT)

Concurrent Investment Advisors LLC raised its position in shares of Caterpillar Inc. (NYSE:CAT) by 11.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,826 shares of the industrial products company’s stock after buying an additional 2,244 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Caterpillar were worth $8,537,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Bbjs Financial Advisors LLC acquired a new position in Caterpillar in the 2nd quarter worth approximately $28,000. Financial Connections Group Inc. purchased a new stake in shares of Caterpillar during the 2nd quarter worth about $28,000. Fairscale Capital LLC bought a new position in Caterpillar during the second quarter valued at approximately $36,000. POM Investment Strategies LLC grew its position in Caterpillar by 2,160.0% in the second quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 108 shares in the last quarter. Finally, TruNorth Capital Management LLC increased its stake in shares of Caterpillar by 215.4% during the 2nd quarter. TruNorth Capital Management LLC now owns 123 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 84 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the sale, the insider now owns 33,442 shares in the company, valued at $11,750,181.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the sale, the insider now directly owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. This represents a 0.00 % 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 this hyperlink. Also, Director Gerald Johnson purchased 100 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was bought at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the acquisition, the director now owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 9,792 shares of company stock worth $3,515,978 in the last 90 days. 0.29% of the stock is currently owned by corporate insiders.

Caterpillar Stock Performance

Shares of NYSE CAT traded up $28.43 during midday trading on Wednesday, reaching $411.80. The company’s stock had a trading volume of 1,787,446 shares, compared to its average volume of 2,611,389. The stock has a market capitalization of $199.68 billion, a P/E ratio of 17.77, a PEG ratio of 1.86 and a beta of 1.10. The firm has a 50 day moving average price of $373.55 and a 200-day moving average price of $351.65. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86. Caterpillar Inc. has a 12-month low of $233.57 and a 12-month high of $413.58.

Caterpillar (NYSE:CAT) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The firm had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. During the same quarter in the prior year, the business posted $5.52 EPS. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. As a group, equities analysts predict that Caterpillar Inc. will post 21.82 earnings per share for the current year.

Caterpillar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be issued a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 1.37%. The ex-dividend date is Monday, October 21st. Caterpillar’s dividend payout ratio is currently 26.15%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CAT shares. Citigroup cut their target price on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. JPMorgan Chase & Co. boosted their price target on Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $349.00 to $332.00 in a research report on Monday, October 14th. Finally, Barclays raised their target price on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $358.19.

About Caterpillar

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.