Fifth Third Wealth Advisors LLC Buys 937 Shares of Caterpillar Inc. $CAT

Key Points

• Fifth Third Wealth Advisors LLC increased its stake in Caterpillar Inc. by 5.6%, now owning a total of 17,633 shares valued at $6,845,000.
• Caterpillar reported quarterly earnings of $4.72 per share, missing analysts' expectations, but had revenue of $16.57 billion, exceeding forecasts.
• The company declared a quarterly dividend of $1.51 per share, set to be paid on November 20th, with an annualized yield of 1.2%.

Fifth Third Wealth Advisors LLC raised its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 5.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,633 shares of the industrial products company's stock after purchasing an additional 937 shares during the period. Fifth Third Wealth Advisors LLC's holdings in Caterpillar were worth $6,845,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Compass Financial Services Inc lifted its position in shares of Caterpillar by 49.2% during the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company's stock valued at $31,000 after buying an additional 31 shares during the last quarter. Family Legacy Financial Solutions LLC purchased a new stake in Caterpillar during the second quarter valued at approximately $32,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Caterpillar during the 1st quarter valued at $33,000. Total Wealth Planning & Management Inc. purchased a new stake in shares of Caterpillar during the 2nd quarter valued at $38,000. Finally, Fiduciary Wealth Partners LLC purchased a new stake in shares of Caterpillar during the 1st quarter valued at $45,000. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Trading Down 1.7%

Shares of Caterpillar stock opened at $491.67 on Friday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. The firm has a fifty day moving average price of $443.23 and a 200 day moving average price of $383.88. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $511.50. The stock has a market cap of $230.34 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 3.04 and a beta of 1.46.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings data 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 company had revenue of $16.57 billion for the quarter, compared to analysts' expectations of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The business's quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.99 EPS. Equities research analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.2%. The ex-dividend date is Monday, October 20th. Caterpillar's dividend payout ratio (DPR) is currently 30.72%.

Insider Activity

In other news, Director Susan C. Schwab sold 2,324 shares of Caterpillar stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the transaction, the director directly owned 6,917 shares of the company's stock, valued at $2,835,970. The trade was a 25.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the transaction, the insider directly owned 8,632 shares of the company's stock, valued at approximately $3,605,586.40. This trade represents a 20.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,819 shares of company stock valued at $16,885,492 in the last three months. 0.33% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CAT has been the subject of a number of research analyst reports. Melius Research upgraded Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price target for the company in a research note on Wednesday, July 9th. Barclays increased their price objective on shares of Caterpillar from $383.00 to $425.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Jefferies Financial Group increased their price objective on shares of Caterpillar from $500.00 to $570.00 and gave the company a "buy" rating in a research report on Wednesday. Oppenheimer raised their price target on shares of Caterpillar from $480.00 to $513.00 and gave the stock an "outperform" rating in a report on Monday, September 29th. Finally, Evercore ISI raised shares of Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 price target for the company in a report on Tuesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Caterpillar currently has a consensus rating of "Moderate Buy" and a consensus target price of $478.20.

Caterpillar Company 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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