Allen Wealth Management LLC Has $1.85 Million Stake in Caterpillar Inc. (NYSE:CAT)

Allen Wealth Management LLC lessened its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 7.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,720 shares of the industrial products company’s stock after selling 360 shares during the period. Caterpillar makes up 1.3% of Allen Wealth Management LLC’s portfolio, making the stock its 17th biggest position. Allen Wealth Management LLC’s holdings in Caterpillar were worth $1,846,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Bbjs Financial Advisors LLC bought a new stake in shares of Caterpillar during the second quarter worth $28,000. Financial Connections Group Inc. acquired a new position in Caterpillar in the 2nd quarter worth $28,000. Fairscale Capital LLC bought a new position in Caterpillar during the 2nd quarter worth about $36,000. POM Investment Strategies LLC raised its stake in shares of Caterpillar by 2,160.0% in the 2nd quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 108 shares during the period. Finally, TruNorth Capital Management LLC boosted its position in shares of Caterpillar by 215.4% during the second quarter. TruNorth Capital Management LLC now owns 123 shares of the industrial products company’s stock worth $41,000 after buying an additional 84 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Caterpillar news, Director Gerald Johnson bought 100 shares of the stock in a transaction dated Wednesday, September 4th. The shares were bought at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the acquisition, the director now owns 2,842 shares of the company’s stock, valued at $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In other 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 owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gerald Johnson acquired 100 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was purchased at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the purchase, the director now directly owns 2,842 shares of the company’s stock, valued at $962,272.78. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company’s stock.

Caterpillar Trading Up 0.9 %

Shares of CAT stock opened at $379.63 on Friday. Caterpillar Inc. has a 12-month low of $232.88 and a 12-month high of $403.60. The company has a market capitalization of $184.08 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 1.86 and a beta of 1.10. The firm has a 50 day moving average price of $372.40 and a two-hundred day moving average price of $351.37. The company has a quick ratio of 0.78, a current ratio of 1.40 and a debt-to-equity ratio of 1.33.

Caterpillar (NYSE:CAT) last released its quarterly earnings results 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 firm had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. During the same period in the previous year, the business posted $5.52 earnings per share. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. As a group, analysts predict that Caterpillar Inc. will post 21.88 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be given a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s dividend payout ratio is 26.15%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Bank of America boosted their target price on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research note on Monday, September 30th. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Robert W. Baird boosted their price target on shares of Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research report on Thursday. Morgan Stanley cut Caterpillar from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $349.00 to $332.00 in a report on Monday, October 14th. Finally, Citigroup dropped their target price on Caterpillar from $445.00 to $435.00 and set a “buy” rating on the stock in a report on Thursday. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $357.56.

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.