Camarda Financial Advisors LLC Takes Position in Caterpillar Inc. $CAT

Camarda Financial Advisors LLC purchased a new position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,280 shares of the industrial products company's stock, valued at approximately $4,558,000. Caterpillar accounts for about 1.4% of Camarda Financial Advisors LLC's portfolio, making the stock its 16th largest position.

A number of other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Caterpillar during the second quarter worth $40,457,153,000. State Street Corp increased its stake in shares of Caterpillar by 1.1% in the 4th quarter. State Street Corp now owns 35,388,550 shares of the industrial products company's stock valued at $20,273,039,000 after purchasing an additional 385,204 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Caterpillar by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 10,610,182 shares of the industrial products company's stock valued at $6,072,572,000 after purchasing an additional 94,524 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Caterpillar by 0.6% during the 4th quarter. Fisher Asset Management LLC now owns 9,493,266 shares of the industrial products company's stock worth $5,438,408,000 after buying an additional 54,069 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Caterpillar by 16.0% during the 4th quarter. Bank of America Corp DE now owns 6,738,802 shares of the industrial products company's stock worth $3,860,457,000 after buying an additional 928,974 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CAT. Wells Fargo & Company raised their price objective on Caterpillar from $1,050.00 to $1,155.00 and gave the company an "overweight" rating in a research note on Tuesday, June 23rd. Barclays boosted their target price on Caterpillar from $800.00 to $900.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 6th. Royal Bank Of Canada raised their price target on shares of Caterpillar from $877.00 to $897.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 5th. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $1,002.00 price target on shares of Caterpillar in a report on Wednesday, August 5th. Finally, Weiss Ratings upgraded shares of Caterpillar from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $995.52.

Insider Buying and Selling

In other Caterpillar news, CEO Joseph E. Creed sold 32,401 shares of the business's stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $808.98, for a total transaction of $26,211,760.98. Following the sale, the chief executive officer directly owned 34,555 shares of the company's stock, valued at $27,954,303.90. The trade was a 48.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Price Performance

Shares of CAT opened at $813.51 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 1.37 and a debt-to-equity ratio of 1.65. The stock has a market cap of $373.95 billion, a PE ratio of 35.00, a PEG ratio of 1.41 and a beta of 1.60. Caterpillar Inc. has a 12-month low of $416.44 and a 12-month high of $1,073.46. The business has a 50-day simple moving average of $868.12 and a two-hundred day simple moving average of $839.26.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The industrial products company reported $8.17 EPS for the quarter, beating analysts' consensus estimates of $6.22 by $1.95. The firm had revenue of $20.54 billion for the quarter, compared to analyst estimates of $19.34 billion. Caterpillar had a return on equity of 55.53% and a net margin of 14.51%.The business's revenue for the quarter was up 23.7% on a year-over-year basis. During the same period last year, the firm posted $4.72 earnings per share. Analysts anticipate that Caterpillar Inc. will post 27.34 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Monday, July 20th were given a dividend of $1.63 per share. The ex-dividend date was Monday, July 20th. This represents a $6.52 annualized dividend and a yield of 0.8%. This is a boost from Caterpillar's previous quarterly dividend of $1.51. Caterpillar's dividend payout ratio is 28.06%.

About Caterpillar

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company's product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.

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