Caterpillar Inc. (NYSE:CAT) Holdings Reduced by Xcel Wealth Management LLC

by · The Markets Daily

Xcel Wealth Management LLC decreased its position in Caterpillar Inc. (NYSE:CAT – Free Report) by 11.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,969 shares of the industrial products company’s stock after selling 529 shares during the period. Xcel Wealth Management LLC’s holdings in Caterpillar were worth $1,552,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Sequoia Financial Advisors LLC boosted its holdings in shares of Caterpillar by 10.9% in the third quarter. Sequoia Financial Advisors LLC now owns 75,446 shares of the industrial products company’s stock valued at $29,509,000 after acquiring an additional 7,406 shares in the last quarter. RFP Financial Group LLC lifted its stake in Caterpillar by 98.4% during the third quarter. RFP Financial Group LLC now owns 5,714 shares of the industrial products company’s stock valued at $2,235,000 after purchasing an additional 2,834 shares during the last quarter. Calton & Associates Inc. acquired a new stake in Caterpillar during the third quarter valued at approximately $507,000. Foundations Investment Advisors LLC lifted its stake in Caterpillar by 8.9% during the third quarter. Foundations Investment Advisors LLC now owns 6,831 shares of the industrial products company’s stock valued at $2,672,000 after purchasing an additional 556 shares during the last quarter. Finally, Ledyard National Bank lifted its position in shares of Caterpillar by 1.4% in the 3rd quarter. Ledyard National Bank now owns 13,283 shares of the industrial products company’s stock valued at $5,195,000 after acquiring an additional 179 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CAT. Evercore ISI reduced their price target on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Raymond James assumed coverage on shares of Caterpillar in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. JPMorgan Chase & Co. upped their price objective on shares of 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 dropped their price objective for the company from $349.00 to $332.00 in a research note on Monday, October 14th. Finally, Citigroup upped their price objective on shares of Caterpillar from $380.00 to $445.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Caterpillar has an average rating of “Hold” and an average price target of $355.50.

Check Out Our Latest Report on CAT

Caterpillar Stock Performance

Shares of NYSE:CAT traded down $1.72 on Tuesday, hitting $388.76. The company had a trading volume of 805,867 shares, compared to its average volume of 2,633,351. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $403.60. The stock has a market cap of $190.12 billion, a price-to-earnings ratio of 17.58, a P/E/G ratio of 1.85 and a beta of 1.10. The stock has a 50 day moving average price of $364.94 and a 200 day moving average price of $350.30. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39.

Caterpillar (NYSE:CAT – Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, beating the consensus estimate of $5.53 by $0.46. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The business had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $16.91 billion. During the same period in the prior year, the company posted $5.55 earnings per share. Caterpillar’s revenue was down 3.6% compared to the same quarter last year. Analysts expect that Caterpillar Inc. will post 21.91 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be paid a $1.41 dividend. The ex-dividend date is Monday, October 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.45%. Caterpillar’s dividend payout ratio (DPR) is presently 25.46%.

Insider Activity at Caterpillar

In other news, Director Gerald Johnson acquired 100 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was acquired at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the transaction, the director now directly owns 2,842 shares of the company’s stock, valued at $962,272.78. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Cheryl H. Johnson sold 2,975 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total value of $1,018,878.00. Following the completion of the transaction, the insider now owns 15,615 shares of the company’s stock, valued at $5,347,825.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Gerald Johnson acquired 100 shares of the stock in a transaction dated Wednesday, September 4th. The stock was purchased at an average cost of $338.59 per share, with a total value of $33,859.00. Following the purchase, the director now directly owns 2,842 shares of the company’s stock, valued at $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by corporate insiders.

About Caterpillar

(Free Report)

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.

Featured Articles