Elevate Wealth Advisory Inc. Has $944,000 Stake in Caterpillar Inc. $CAT

Key Points

• Elevate Wealth Advisory Inc. reduced its position in Caterpillar Inc. by 26.9%, now holding 2,862 shares worth $944,000 after selling 1,051 shares in the first quarter.
• Caterpillar recently reported mixed earnings, with EPS of $4.72, missing estimates, while revenue of $16.57 billion exceeded expectations, reflecting a 0.7% decline year-over-year.
• The company announced a dividend increase to $1.51 per share, yielding 1.4%, up from the previous dividend of $1.41.

Elevate Wealth Advisory Inc. cut its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 26.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,862 shares of the industrial products company's stock after selling 1,051 shares during the period. Elevate Wealth Advisory Inc.'s holdings in Caterpillar were worth $944,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. McIlrath & Eck LLC lifted its holdings in Caterpillar by 3.2% during the fourth quarter. McIlrath & Eck LLC now owns 962 shares of the industrial products company's stock worth $349,000 after acquiring an additional 30 shares in the last quarter. Allen Wealth Management LLC lifted its holdings in Caterpillar by 0.8% during the first quarter. Allen Wealth Management LLC now owns 4,010 shares of the industrial products company's stock worth $1,322,000 after acquiring an additional 30 shares in the last quarter. Asset Management Group Inc. lifted its holdings in Caterpillar by 0.3% during the fourth quarter. Asset Management Group Inc. now owns 10,771 shares of the industrial products company's stock worth $3,907,000 after acquiring an additional 32 shares in the last quarter. Summit X LLC lifted its holdings in Caterpillar by 3.2% during the first quarter. Summit X LLC now owns 1,025 shares of the industrial products company's stock worth $338,000 after acquiring an additional 32 shares in the last quarter. Finally, Menard Financial Group LLC lifted its holdings in shares of Caterpillar by 1.0% in the first quarter. Menard Financial Group LLC now owns 3,174 shares of the industrial products company's stock valued at $1,019,000 after purchasing an additional 32 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the business's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the transaction, the insider owned 8,632 shares of the company's stock, valued at $3,605,586.40. The trade was a 20.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of the business's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the transaction, the director directly owned 6,917 shares in the company, valued at approximately $2,835,970. This trade represents a 25.15% decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is owned by insiders.

Caterpillar Stock Up 4.1%

Shares of NYSE:CAT traded up $17.1140 during midday trading on Friday, reaching $435.0040. The company had a trading volume of 3,784,363 shares, compared to its average volume of 3,368,960. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. The business's 50 day moving average price is $405.71 and its 200 day moving average price is $357.80. The stock has a market cap of $203.79 billion, a PE ratio of 22.13, a P/E/G ratio of 2.60 and a beta of 1.40. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $441.15.

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

Caterpillar Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CAT. JPMorgan Chase & Co. boosted their price target on Caterpillar from $475.00 to $520.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Evercore ISI upgraded Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 price target on the stock in a report on Tuesday. Sanford C. Bernstein restated a "market perform" rating on shares of Caterpillar in a report on Monday, July 14th. Melius Research upgraded Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price target on the stock in a report on Wednesday, July 9th. Finally, Bank of America boosted their price target on Caterpillar from $460.00 to $495.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, Caterpillar currently has a consensus rating of "Moderate Buy" and a consensus price target of $450.87.

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.