Montz Harcus Wealth Management LLC Lowers Stake in Caterpillar Inc. (NYSE:CAT)

Montz Harcus Wealth Management LLC decreased its position in Caterpillar Inc. (NYSE:CAT) by 2.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,824 shares of the industrial products company’s stock after selling 51 shares during the quarter. Caterpillar accounts for approximately 0.4% of Montz Harcus Wealth Management LLC’s portfolio, making the stock its 26th largest position. Montz Harcus Wealth Management LLC’s holdings in Caterpillar were worth $714,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in CAT. Bbjs Financial Advisors LLC purchased a new stake in Caterpillar during the 2nd quarter worth approximately $28,000. Financial Connections Group Inc. acquired a new position in shares of Caterpillar in the second quarter worth $28,000. Fairman Group LLC acquired a new stake in shares of Caterpillar in the first quarter valued at $29,000. Fairscale Capital LLC purchased a new position in Caterpillar in the second quarter valued at $36,000. Finally, POM Investment Strategies LLC grew its stake in Caterpillar by 2,160.0% during the 2nd quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 108 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CAT shares. Citigroup lifted their price objective on Caterpillar from $380.00 to $445.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Evercore ISI decreased their price target on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Barclays increased their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, JPMorgan Chase & Co. raised their price target on Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Caterpillar has an average rating of “Hold” and a consensus price target of $355.50.

Insider Buying and Selling

In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction 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 transaction, the insider now owns 33,442 shares in the company, valued at approximately $11,750,181.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the sale, the insider now directly owns 33,442 shares in the company, valued at $11,750,181.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gerald Johnson acquired 100 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was acquired at an average price of $338.59 per share, with a total value of $33,859.00. Following the transaction, the director now directly owns 2,842 shares of the company’s stock, valued at $962,272.78. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Stock Performance

NYSE:CAT traded down $1.09 during trading hours on Friday, reaching $385.97. 1,606,883 shares of the company’s stock were exchanged, compared to its average volume of 2,622,578. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $403.60. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39. The firm has a market capitalization of $188.76 billion, a price-to-earnings ratio of 17.43, a P/E/G ratio of 1.85 and a beta of 1.10. The company has a 50-day moving average of $368.57 and a 200 day moving average of $350.81.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.53 by $0.46. The firm had revenue of $16.69 billion for the quarter, compared to analyst estimates of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The business’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the company posted $5.55 earnings per share. Research analysts anticipate that Caterpillar Inc. will post 21.91 EPS for the current year.

Caterpillar Announces Dividend

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 paid a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is presently 25.46%.

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.