Daner Wealth Management LLC Purchases New Position in Caterpillar Inc. $CAT

Daner Wealth Management LLC acquired a new stake in Caterpillar Inc. (NYSE:CAT) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 1,221 shares of the industrial products company’s stock, valued at approximately $504,000.

A number of other institutional investors and hedge funds have also modified their holdings of CAT. Pacific Point Advisors LLC bought a new position in Caterpillar during the 4th quarter valued at about $579,000. Brighton Jones LLC raised its holdings in shares of Caterpillar by 51.5% during the fourth quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock valued at $2,688,000 after purchasing an additional 2,519 shares during the last quarter. Chicago Partners Investment Group LLC lifted its position in Caterpillar by 4.5% during the first quarter. Chicago Partners Investment Group LLC now owns 2,497 shares of the industrial products company’s stock valued at $800,000 after purchasing an additional 108 shares during the period. AlphaCore Capital LLC grew its position in Caterpillar by 77.3% in the 1st quarter. AlphaCore Capital LLC now owns 1,816 shares of the industrial products company’s stock worth $599,000 after purchasing an additional 792 shares during the period. Finally, Savvy Advisors Inc. raised its stake in Caterpillar by 5.6% during the 1st quarter. Savvy Advisors Inc. now owns 4,267 shares of the industrial products company’s stock valued at $1,407,000 after buying an additional 227 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Up 0.7%

Caterpillar stock opened at $603.27 on Friday. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $607.00. The firm has a market capitalization of $282.32 billion, a price-to-earnings ratio of 30.97, a P/E/G ratio of 2.84 and a beta of 1.57. The firm has a 50 day moving average of $542.45 and a 200 day moving average of $452.46. The company has a current ratio of 1.38, a quick ratio of 0.86 and a debt-to-equity ratio of 1.34.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share for the quarter, topping analysts’ consensus estimates of $4.52 by $0.43. The business had revenue of $17.64 billion during the quarter, compared to analyst estimates of $16.72 billion. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The company’s revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the business posted $5.17 earnings per share. As a group, research analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Monday, October 20th were issued a dividend of $1.51 per share. The ex-dividend date of this dividend was Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a yield of 1.0%. Caterpillar’s dividend payout ratio (DPR) is currently 31.01%.

Insiders Place Their Bets

In other Caterpillar news, insider Jason Kaiser sold 10,707 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $563.60, for a total value of $6,034,465.20. Following the completion of the transaction, the insider directly owned 8,649 shares in the company, valued at $4,874,576.40. This represents a 55.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $571.44, for a total transaction of $5,714,400.00. Following the sale, the chief financial officer owned 55,460 shares in the company, valued at approximately $31,692,062.40. The trade was a 15.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 79,061 shares of company stock valued at $41,949,366. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

CAT has been the topic of a number of research reports. Argus raised their price target on Caterpillar from $460.00 to $625.00 and gave the stock a “buy” rating in a research note on Wednesday, November 19th. JPMorgan Chase & Co. boosted their price target on Caterpillar from $650.00 to $730.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. HSBC upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and increased their price objective for the stock from $405.00 to $660.00 in a research note on Wednesday, November 5th. Oppenheimer boosted their target price on shares of Caterpillar from $513.00 to $645.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Finally, Wells Fargo & Company began coverage on shares of Caterpillar in a report on Thursday, November 13th. They set an “overweight” rating and a $675.00 target price for the company. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $610.32.

Caterpillar 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.