Spectrum Wealth Counsel LLC Buys 6,407 Shares of Caterpillar Inc. (NYSE:CAT)

Spectrum Wealth Counsel LLC boosted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 6,407.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,507 shares of the industrial products company’s stock after purchasing an additional 6,407 shares during the quarter. Spectrum Wealth Counsel LLC’s holdings in Caterpillar were worth $2,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Onefund LLC boosted its position in Caterpillar by 3.3% during the fourth quarter. Onefund LLC now owns 1,316 shares of the industrial products company’s stock valued at $477,000 after purchasing an additional 42 shares in the last quarter. Metis Global Partners LLC boosted its holdings in Caterpillar by 1.4% in the fourth quarter. Metis Global Partners LLC now owns 23,592 shares of the industrial products company’s stock worth $8,558,000 after acquiring an additional 323 shares in the last quarter. West Michigan Advisors LLC boosted its holdings in Caterpillar by 15.9% in the fourth quarter. West Michigan Advisors LLC now owns 2,330 shares of the industrial products company’s stock worth $845,000 after acquiring an additional 320 shares in the last quarter. Providence First Trust Co acquired a new stake in Caterpillar in the fourth quarter worth about $141,000. Finally, Noble Wealth Management PBC acquired a new stake in Caterpillar in the fourth quarter worth about $31,000. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Up 1.1 %

Shares of CAT stock opened at $343.90 on Friday. The stock has a 50 day moving average of $365.99 and a 200 day moving average of $372.71. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. The stock has a market cap of $164.36 billion, a P/E ratio of 15.58, a P/E/G ratio of 1.87 and a beta of 1.12. Caterpillar Inc. has a twelve month low of $307.05 and a twelve month high of $418.50.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, beating analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. As a group, sell-side analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st were given a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date was Tuesday, January 21st. Caterpillar’s dividend payout ratio (DPR) is presently 25.56%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CAT shares. Evercore ISI raised their price target on Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Raymond James raised Caterpillar from a “market perform” rating to an “outperform” rating in a report on Monday, February 3rd. DA Davidson lifted their target price on Caterpillar from $350.00 to $357.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Bank of America decreased their target price on Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. decreased their target price on Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $383.80.

Insider Activity

In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $380.09, for a total value of $3,800,900.00. Following the sale, the chief financial officer now directly owns 45,182 shares of the company’s stock, valued at $17,173,226.38. The trade was a 18.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jason Kaiser sold 2,425 shares of Caterpillar stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total value of $860,147.50. Following the completion of the sale, the insider now directly owns 6,275 shares in the company, valued at $2,225,742.50. This represents a 27.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

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.