WCG Wealth Advisors LLC Buys Shares of 13,380 Caterpillar Inc. $CAT

Key Points

• WCG Wealth Advisors LLC disclosed a new fourth-quarter stake in Caterpillar, buying 13,380 shares valued at about $7.67 million.
• Caterpillar reported strong quarterly results, with EPS of $5.54 beating estimates and revenue of $17.42 billion topping forecasts; revenue also rose 22.2% year over year.
• Analyst sentiment remains positive, with Caterpillar carrying a Moderate Buy rating and a consensus price target of $933.27, while several firms recently raised their targets.

WCG Wealth Advisors LLC bought a new stake in Caterpillar Inc. (NYSE:CAT - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 13,380 shares of the industrial products company's stock, valued at approximately $7,665,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Caterpillar by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 46,385,185 shares of the industrial products company's stock worth $26,572,681,000 after purchasing an additional 442,164 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Caterpillar by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 10,610,182 shares of the industrial products company's stock valued at $6,072,572,000 after buying an additional 94,524 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Caterpillar by 0.6% in the fourth quarter. Fisher Asset Management LLC now owns 9,493,266 shares of the industrial products company's stock valued at $5,438,408,000 after buying an additional 54,069 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Caterpillar by 3,949.8% in the third quarter. Wellington Management Group LLP now owns 5,228,058 shares of the industrial products company's stock valued at $2,494,568,000 after buying an additional 5,098,964 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Caterpillar by 2.2% in the third quarter. Legal & General Group Plc now owns 2,802,068 shares of the industrial products company's stock valued at $1,337,007,000 after buying an additional 58,993 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Trading Up 1.9%

NYSE CAT opened at $927.18 on Thursday. The firm's 50 day moving average price is $823.77 and its two-hundred day moving average price is $710.34. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.81 and a current ratio of 1.35. Caterpillar Inc. has a twelve month low of $345.85 and a twelve month high of $936.71. The stock has a market cap of $427.05 billion, a price-to-earnings ratio of 46.15, a PEG ratio of 1.79 and a beta of 1.59.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The industrial products company reported $5.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.65 by $0.89. The firm had revenue of $17.42 billion during the quarter, compared to analysts' expectations of $16.53 billion. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The business's revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter last year, the firm earned $4.25 earnings per share. Equities analysts anticipate that Caterpillar Inc. will post 24.67 EPS for the current year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Stockholders of record on Monday, April 20th were paid a $1.51 dividend. The ex-dividend date was Monday, April 20th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 0.7%. Caterpillar's payout ratio is 30.06%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CAT. CICC Research began coverage on Caterpillar in a report on Friday, February 6th. They issued an "outperform" rating on the stock. Wolfe Research lifted their price objective on shares of Caterpillar from $670.00 to $750.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 31st. HSBC lifted their price objective on shares of Caterpillar from $850.00 to $1,100.00 in a research report on Tuesday, May 5th. Robert W. Baird lifted their price objective on shares of Caterpillar from $940.00 to $1,165.00 and gave the stock an "outperform" rating in a research report on Friday, May 1st. Finally, Bank of America lifted their price objective on shares of Caterpillar from $930.00 to $989.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. Sixteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Caterpillar presently has an average rating of "Moderate Buy" and a consensus target price of $933.27.

Insider Buying and Selling

In other news, insider Jason Kaiser sold 5,642 shares of Caterpillar stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $883.03, for a total value of $4,982,055.26. Following the completion of the transaction, the insider owned 9,594 shares in the company, valued at approximately $8,471,789.82. The trade was a 37.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Lange Bob De sold 24,222 shares of Caterpillar stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $922.92, for a total transaction of $22,354,968.24. Following the completion of the transaction, the insider owned 86,029 shares of the company's stock, valued at $79,397,884.68. This trade represents a 21.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 95,773 shares of company stock valued at $87,642,635 in the last ninety days. 0.33% of the stock is owned by corporate insiders.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company's product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.

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