Cassaday & Co Wealth Management LLC Has $642,000 Stake in Caterpillar Inc. (NYSE:CAT)

Cassaday & Co Wealth Management LLC reduced its position in shares of Caterpillar Inc. (NYSE:CAT) by 2.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,641 shares of the industrial products company’s stock after selling 34 shares during the quarter. Cassaday & Co Wealth Management LLC’s holdings in Caterpillar were worth $642,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CAT. Acadian Asset Management LLC increased its position in shares of Caterpillar by 17.2% during the first quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock worth $3,308,000 after acquiring an additional 1,327 shares in the last quarter. Alpha Cubed Investments LLC increased its holdings in Caterpillar by 5.6% during the 3rd quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock worth $45,591,000 after purchasing an additional 6,212 shares in the last quarter. First Affirmative Financial Network purchased a new stake in shares of Caterpillar in the third quarter worth approximately $204,000. Inspire Advisors LLC lifted its holdings in shares of Caterpillar by 25.8% in the third quarter. Inspire Advisors LLC now owns 8,266 shares of the industrial products company’s stock valued at $3,233,000 after purchasing an additional 1,694 shares in the last quarter. Finally, Jackson Square Capital LLC grew its holdings in Caterpillar by 33.7% during the third quarter. Jackson Square Capital LLC now owns 16,581 shares of the industrial products company’s stock worth $6,485,000 after buying an additional 4,182 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CAT has been the topic of several recent analyst reports. UBS Group raised their price objective on Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a research note on Monday, November 4th. Citigroup reduced their price objective on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Barclays upped their target price on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. Morgan Stanley lowered Caterpillar from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $349.00 to $332.00 in a report on Monday, October 14th. Finally, Robert W. Baird lifted their target price on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Caterpillar currently has a consensus rating of “Hold” and an average price target of $365.33.

Insider Activity at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the sale, the insider now directly owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. This represents a 8.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Cheryl H. Johnson sold 2,975 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total value of $1,018,878.00. Following the transaction, the insider now owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. This trade represents a 16.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,749 shares of company stock valued at $9,251,912. 0.29% of the stock is owned by corporate insiders.

Caterpillar Price Performance

CAT stock opened at $384.53 on Tuesday. The stock has a market cap of $185.65 billion, a PE ratio of 17.83, a P/E/G ratio of 1.90 and a beta of 1.10. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86. Caterpillar Inc. has a one year low of $241.81 and a one year high of $418.50. The firm has a 50 day simple moving average of $381.86 and a two-hundred day simple moving average of $354.37.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The business had revenue of $16.11 billion during the quarter, compared to analysts’ expectations of $16.37 billion. During the same quarter last year, the business posted $5.52 EPS. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. On average, analysts predict that Caterpillar Inc. will post 21.68 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be given a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s dividend payout ratio is presently 26.15%.

About Caterpillar

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.