Altus Wealth Group LLC Buys Shares of 607 Caterpillar Inc. (NYSE:CAT)

Altus Wealth Group LLC acquired a new position in Caterpillar Inc. (NYSE:CAT) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 607 shares of the industrial products company’s stock, valued at approximately $202,000.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Caterpillar during the 4th quarter valued at about $1,660,560,000. Capital Wealth Planning LLC grew its position in Caterpillar by 27,495.2% during the fourth quarter. Capital Wealth Planning LLC now owns 1,182,453 shares of the industrial products company’s stock valued at $349,616,000 after buying an additional 1,178,168 shares during the period. Canada Pension Plan Investment Board increased its holdings in Caterpillar by 306.9% during the first quarter. Canada Pension Plan Investment Board now owns 407,677 shares of the industrial products company’s stock valued at $149,385,000 after buying an additional 307,479 shares during the last quarter. Swedbank AB bought a new position in Caterpillar in the first quarter worth approximately $97,042,000. Finally, Capital International Investors boosted its stake in shares of Caterpillar by 99.9% during the 1st quarter. Capital International Investors now owns 488,660 shares of the industrial products company’s stock worth $179,060,000 after acquiring an additional 244,253 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling

In related news, 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 purchase, the director now directly owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction on Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gerald Johnson bought 100 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were acquired at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the purchase, the director now owns 2,842 shares in the company, valued at $962,272.78. The disclosure for this purchase can be found here. Insiders sold 7,668 shares of company stock valued at $2,665,760 over the last 90 days. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Trading Down 1.0 %

Shares of CAT opened at $333.50 on Friday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78. The firm has a market capitalization of $163.10 billion, a price-to-earnings ratio of 15.06, a PEG ratio of 1.66 and a beta of 1.12. The company has a 50-day moving average of $339.94 and a 200 day moving average of $343.18. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $382.01.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, topping the consensus estimate of $5.53 by $0.46. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The company had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $16.91 billion. During the same period last year, the business posted $5.55 EPS. Caterpillar’s quarterly revenue was down 3.6% on a year-over-year basis. On average, research analysts expect that Caterpillar Inc. will post 21.87 EPS for the current year.

Caterpillar declared that its Board of Directors has initiated a share buyback plan on Wednesday, June 12th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to buy up to 12.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Caterpillar Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd were given a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend was Monday, July 22nd. This is a boost from Caterpillar’s previous quarterly dividend of $1.30. Caterpillar’s dividend payout ratio is presently 25.46%.

Analyst Ratings Changes

A number of equities analysts recently commented on CAT shares. StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a report on Thursday. Citigroup initiated coverage on shares of Caterpillar in a research note on Wednesday, June 26th. They set a “buy” rating and a $380.00 target price on the stock. Raymond James began coverage on Caterpillar in a research report on Friday, June 28th. They issued a “market perform” rating on the stock. UBS Group raised their target price on shares of Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research note on Wednesday, August 7th. Finally, Bank of America cut their price objective on Caterpillar from $385.00 to $376.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $336.31.

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.