Core Wealth Advisors Inc. Has $2.42 Million Stake in Caterpillar Inc. $CAT

Key Points

• Core Wealth Advisors Inc. has reduced its holdings in Caterpillar Inc. by 11.0%, now owning 7,333 shares, which accounts for about 0.8% of their portfolio.
• Caterpillar's stock recently reported a 3.5% decline, and the company's latest earnings showed an EPS of $4.72, falling short of the consensus estimate.
• The firm declared an increase in its quarterly dividend to $1.51 per share, reflecting a positive upward trend from the previous dividend of $1.41.

Core Wealth Advisors Inc. decreased its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 11.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 7,333 shares of the industrial products company's stock after selling 906 shares during the period. Caterpillar makes up 0.8% of Core Wealth Advisors Inc.'s holdings, making the stock its 17th largest position. Core Wealth Advisors Inc.'s holdings in Caterpillar were worth $2,418,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Victrix Investment Advisors bought a new stake in shares of Caterpillar in the 4th quarter valued at $2,090,000. Charles Schwab Investment Management Inc. increased its position in shares of Caterpillar by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company's stock valued at $1,089,798,000 after buying an additional 15,347 shares in the last quarter. Pacific Point Advisors LLC bought a new stake in shares of Caterpillar in the 4th quarter valued at $579,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Caterpillar by 18.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 191,640 shares of the industrial products company's stock valued at $63,202,000 after buying an additional 30,070 shares in the last quarter. Finally, Crestwood Advisors Group LLC increased its position in shares of Caterpillar by 3.4% in the 1st quarter. Crestwood Advisors Group LLC now owns 22,689 shares of the industrial products company's stock valued at $7,483,000 after buying an additional 743 shares in the last quarter. Institutional investors own 70.98% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CAT. Melius Research upgraded Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 target price for the company in a report on Wednesday, July 9th. Jefferies Financial Group reiterated a "buy" rating and set a $500.00 target price on shares of Caterpillar in a report on Friday, August 29th. Truist Financial increased their target price on Caterpillar from $414.00 to $507.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Sanford C. Bernstein reiterated a "market perform" rating on shares of Caterpillar in a report on Monday, July 14th. Finally, Citigroup increased their target price on Caterpillar from $460.00 to $500.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $457.20.

Caterpillar Stock Performance

NYSE:CAT traded up $5.36 during mid-day trading on Thursday, hitting $420.48. The stock had a trading volume of 1,605,139 shares, compared to its average volume of 2,753,062. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $441.15. The stock has a market cap of $196.99 billion, a price-to-earnings ratio of 21.39, a PEG ratio of 2.53 and a beta of 1.41. The company's 50 day simple moving average is $416.29 and its 200 day simple moving average is $361.91. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34.

Caterpillar (NYSE:CAT - Get Free Report) last issued its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.88 by ($0.16). The firm had revenue of $16.57 billion during the quarter, compared to analyst estimates of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The company's revenue for the quarter was down .7% on a year-over-year basis. During the same quarter last year, the business posted $5.99 earnings per share. On average, equities research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st were issued a dividend of $1.51 per share. This is a boost from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, July 21st. Caterpillar's payout ratio is 30.72%.

Insider Transactions at Caterpillar

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $417.70, for a total value of $902,649.70. Following the sale, the insider owned 8,632 shares in the company, valued at $3,605,586.40. This trade represents a 20.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the completion of the sale, the chairman owned 482,505 shares in the company, valued at $199,211,839.35. This represents a 3.44% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,653 shares of company stock valued at $8,943,642. 0.33% of the stock is currently owned by company insiders.

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.