Caterpillar Inc. (NYSE:CAT) Shares Sold by Spectrum Wealth Counsel LLC

Key Points

• Spectrum Wealth Counsel LLC significantly reduced its holdings in Caterpillar Inc. by 98.5% during the first quarter, owning only 100 shares after selling 6,407 shares.
• Several institutional investors have increased their stakes in Caterpillar, including Pictet Asset Management Holding SA, which raised its holdings by 11.8%, now owning shares valued at over $107 million.
• Caterpillar recently declared a quarterly dividend of $1.51 per share, up from the previous $1.41, with an ex-dividend date set for July 21st.

Spectrum Wealth Counsel LLC decreased its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 98.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100 shares of the industrial products company's stock after selling 6,407 shares during the quarter. Spectrum Wealth Counsel LLC's holdings in Caterpillar were worth $33,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CAT. Pacific Point Advisors LLC acquired a new stake in Caterpillar during the 4th quarter worth about $579,000. Brighton Jones LLC lifted its position in Caterpillar by 51.5% during the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company's stock worth $2,688,000 after acquiring an additional 2,519 shares during the period. AssuredPartners Investment Advisors LLC acquired a new stake in Caterpillar during the 4th quarter worth about $248,000. Pictet Asset Management Holding SA lifted its holdings in shares of Caterpillar by 11.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 297,376 shares of the industrial products company's stock valued at $107,876,000 after buying an additional 31,268 shares during the period. Finally, DnB Asset Management AS lifted its holdings in shares of Caterpillar by 23.6% in the 4th quarter. DnB Asset Management AS now owns 1,536 shares of the industrial products company's stock valued at $557,000 after buying an additional 293 shares during the period. Institutional investors and hedge funds own 70.98% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CAT. Melius raised Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price objective for the company in a report on Wednesday, July 9th. Baird R W raised Caterpillar from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Bank of America boosted their price objective on Caterpillar from $335.00 to $385.00 and gave the company a "buy" rating in a report on Friday, May 30th. Oppenheimer boosted their price objective on Caterpillar from $395.00 to $483.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Finally, DA Davidson boosted their price objective on Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $419.33.

Insider Buying and Selling

In related news, Director David Maclennan bought 375 shares of the stock in a transaction dated Wednesday, May 7th. The shares were acquired at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the acquisition, the director directly owned 6,653 shares in the company, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.33% of the company's stock.

Caterpillar Price Performance

NYSE:CAT opened at $434.07 on Friday. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $434.87. The stock has a 50 day moving average of $377.02 and a two-hundred day moving average of $351.82. The company has a current ratio of 1.32, a quick ratio of 0.77 and a debt-to-equity ratio of 1.43. The firm has a market cap of $204.47 billion, a P/E ratio of 21.15, a price-to-earnings-growth ratio of 2.71 and a beta of 1.38.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing the consensus estimate of $4.35 by ($0.10). Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. The firm had revenue of $14.25 billion for the quarter, compared to analysts' expectations of $14.64 billion. During the same quarter last year, the firm posted $5.60 earnings per share. Caterpillar's quarterly revenue was down 9.8% on a year-over-year basis. On average, analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be paid a dividend of $1.51 per share. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a yield of 1.39%. The ex-dividend date is Monday, July 21st. Caterpillar's payout ratio is 29.43%.

Caterpillar Profile

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.

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