Spectrum Wealth Counsel LLC Reduces Position in Caterpillar Inc. (NYSE:CAT)

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 lessened its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 98.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of CAT. Investment Management Corp VA ADV purchased a new position in shares of Caterpillar during the 4th quarter worth $33,000. Curat Global LLC purchased a new position in shares of Caterpillar during the 1st quarter worth $33,000. Redmont Wealth Advisors LLC purchased a new position in shares of Caterpillar during the 1st quarter worth $33,000. Quarry LP purchased a new position in shares of Caterpillar during the 4th quarter worth $35,000. Finally, Mpwm Advisory Solutions LLC purchased a new position in shares of Caterpillar during the 4th quarter worth $36,000. Hedge funds and other institutional investors own 70.98% of the company's stock.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director David Maclennan bought 375 shares of Caterpillar stock in a transaction dated Wednesday, May 7th. The shares were purchased 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 represents a 5.97% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.33% of the stock is currently owned by company insiders.

Caterpillar Price Performance

Shares of Caterpillar stock traded up $5.71 during trading hours on Wednesday, reaching $435.76. The company's stock had a trading volume of 1,093,626 shares, compared to its average volume of 2,672,469. The firm has a 50 day moving average price of $380.25 and a 200-day moving average price of $352.87. Caterpillar Inc. has a one year low of $267.30 and a one year high of $436.40. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.32 and a quick ratio of 0.77. The stock has a market cap of $205.26 billion, a P/E ratio of 21.25, a P/E/G ratio of 2.71 and a beta of 1.38.

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

Caterpillar Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be issued a $1.51 dividend. The ex-dividend date is Monday, July 21st. This is an increase from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.39%. Caterpillar's payout ratio is 29.43%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CAT. Evercore ISI decreased their price objective on shares of Caterpillar from $375.00 to $373.00 and set an "in-line" rating on the stock in a research report on Monday, May 19th. Citigroup restated a "buy" rating and set a $420.00 price objective (up from $370.00) on shares of Caterpillar in a research report on Tuesday, June 24th. JPMorgan Chase & Co. raised their price objective on shares of Caterpillar from $395.00 to $475.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Oppenheimer raised their price objective on shares of Caterpillar from $395.00 to $483.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Finally, DA Davidson raised their price objective on shares of Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $419.33.

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.