SteelPeak Wealth LLC Has $6.94 Million Stake in Caterpillar Inc. (NYSE:CAT)

SteelPeak Wealth LLC cut its position in shares of Caterpillar Inc. (NYSE:CAT) by 8.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,737 shares of the industrial products company’s stock after selling 1,670 shares during the quarter. SteelPeak Wealth LLC’s holdings in Caterpillar were worth $6,937,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bbjs Financial Advisors LLC acquired a new position in shares of Caterpillar during the second quarter valued at about $28,000. Financial Connections Group Inc. acquired a new position in Caterpillar during the 2nd quarter valued at about $28,000. Fairscale Capital LLC bought a new stake in Caterpillar during the 2nd quarter worth approximately $36,000. POM Investment Strategies LLC lifted its holdings in shares of Caterpillar by 2,160.0% in the second 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 in the last quarter. 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 valued at $41,000 after buying an additional 84 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Bank of America increased their price target on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Morgan Stanley downgraded Caterpillar from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $349.00 to $332.00 in a research report on Monday, October 14th. StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Evercore ISI reduced their price objective 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. Finally, JPMorgan Chase & Co. increased their target price on Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $355.50.

Caterpillar Trading Down 0.3 %

Shares of CAT stock traded down $1.34 during trading hours on Wednesday, reaching $386.17. The company’s stock had a trading volume of 2,191,781 shares, compared to its average volume of 2,621,266. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. The stock has a market capitalization of $188.86 billion, a P/E ratio of 17.51, a P/E/G ratio of 1.85 and a beta of 1.10. The firm’s fifty day simple moving average is $370.38 and its 200 day simple moving average is $350.94. Caterpillar Inc. has a one year low of $223.76 and a one year high of $403.60.

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

Caterpillar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be issued a $1.41 dividend. The ex-dividend date is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.46%. Caterpillar’s payout ratio is currently 25.46%.

Insider Buying and Selling at Caterpillar

In related news, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total value of $1,018,878.00. Following the completion of the sale, the insider now directly owns 15,615 shares in the company, valued at approximately $5,347,825.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Gerald Johnson bought 100 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were bought at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the purchase, the director now owns 2,842 shares in the company, valued at $962,272.78. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total value of $1,018,878.00. Following the sale, the insider now owns 15,615 shares of the company’s stock, valued at $5,347,825.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.33% 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.