Caterpillar Inc. $CAT Stock: Ibex Wealth Advisors Lowers Holdings

Ibex Wealth Advisors cut its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 33.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,681 shares of the industrial products company’s stock after selling 3,284 shares during the period. Ibex Wealth Advisors’ holdings in Caterpillar were worth $5,416,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Grp LLC boosted its holdings in shares of Caterpillar by 15.5% in the 3rd quarter. Wellington Grp LLC now owns 2,104 shares of the industrial products company’s stock valued at $1,706,000 after purchasing an additional 282 shares in the last quarter. Bernicke Wealth Management Ltd. bought a new position in shares of Caterpillar in the 3rd quarter valued at $1,115,000. Channel Wealth LLC raised its holdings in shares of Caterpillar by 9.6% during the 3rd quarter. Channel Wealth LLC now owns 1,116 shares of the industrial products company’s stock worth $905,000 after buying an additional 98 shares in the last quarter. Vista Capital Partners Inc. acquired a new position in shares of Caterpillar during the 3rd quarter worth $658,000. Finally, Aberdeen Group plc raised its holdings in shares of Caterpillar by 1.1% during the 3rd quarter. Aberdeen Group plc now owns 552,061 shares of the industrial products company’s stock worth $447,606,000 after buying an additional 6,013 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Caterpillar

In other news, Director David Maclennan bought 350 shares of the business’s stock in a transaction that occurred on Thursday, November 12th. The shares were bought at an average cost of $596.10 per share, for a total transaction of $208,635.00. Following the acquisition, the director directly owned 8,773 shares in the company, valued at approximately $5,229,585.30. This trade represents a 4.16% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James C. Fish, Jr. bought 1,000 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The stock was purchased at an average price of $620.39 per share, for a total transaction of $620,390.00. Following the completion of the acquisition, the director owned 4,714 shares in the company, valued at $2,924,518.46. This represents a 26.93% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Needham & Company LLC set a $980.00 price objective on Caterpillar in a research note on Thursday, September 10th. Freedom Broker lowered their target price on Caterpillar from $980.00 to $800.00 and set a “buy” rating for the company in a research note on Monday, November 2nd. President Capital started coverage on shares of Caterpillar in a report on Friday, September 18th. They issued a “buy” rating and a $999.00 price objective for the company. Wells Fargo & Company decreased their price objective on Caterpillar from $1,155.00 to $840.00 and set an “overweight” rating for the company in a report on Monday, October 26th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and set a $749.00 target price on shares of Caterpillar in a research report on Wednesday, October 14th. Fifteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $898.25.

More Caterpillar News

These are some of the CAT news items that stood out recently:

• Positive Sentiment: Caterpillar ended the third quarter with a record $78 billion backlog, nearly double the year-earlier level. Strong orders across construction, mining and power generation offer revenue visibility, while capacity expansion and automation investments could help support growth. CAT’s Record $78B Backlog Signals Strength
• Positive Sentiment: Investor Kevin Simpson reportedly bought more CAT shares, a favorable sentiment signal, though the article does not provide the rationale or size of the purchase. Trade tracker: Kevin Simpson buys more Caterpillar
• Negative Sentiment: Pomerantz LLP announced an investigation into claims on behalf of Caterpillar investors. The release does not detail the claims, but the investigation could add legal uncertainty. Pomerantz Law Firm Investigates Claims

Caterpillar Stock Down 0.9%

CAT traded down $5.48 during midday trading on Friday, hitting $599.80. The company had a trading volume of 2,287,211 shares, compared to its average volume of 3,857,929. The stock’s 50 day moving average price is $740.65 and its 200 day moving average price is $805.20. Caterpillar Inc. has a 52 week low of $537.08 and a 52 week high of $1,073.46. The company has a market capitalization of $274.46 billion, a price-to-earnings ratio of 23.53, a PEG ratio of 1.05 and a beta of 1.65. The company has a quick ratio of 0.88, a current ratio of 1.42 and a debt-to-equity ratio of 1.50.

Caterpillar (NYSE:CAT) last issued its earnings results on Thursday, October 29th. The industrial products company reported $7.20 EPS for the quarter, beating the consensus estimate of $7.06 by $0.14. The company had revenue of $20.68 billion during the quarter, compared to the consensus estimate of $20.76 billion. Caterpillar had a return on equity of 59.87% and a net margin of 15.21%. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period last year, the business posted $4.95 EPS. On average, research analysts anticipate that Caterpillar Inc. will post 27.38 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Monday, October 26th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Monday, October 26th. Caterpillar’s dividend payout ratio (DPR) is 25.58%.

Caterpillar Company Profile

Caterpillar Inc. is a global manufacturer of construction and mining equipment, engines, turbines, and related products and services. Its offerings include earthmoving and material-handling machines, diesel and natural gas engines, power-generation systems, and equipment and technologies used in mining and transportation. The company’s products are commonly sold under the Cat brand. Caterpillar serves customers in markets around the world through a network of independent dealers. Its businesses also provide parts, maintenance, equipment rental, and other support services, as well as financing and insurance through its financial services operations.