Pacific Wealth Strategies Group Inc. Acquires 123 Shares of Caterpillar Inc. (NYSE:CAT)

Pacific Wealth Strategies Group Inc. raised its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 2.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,832 shares of the industrial products company’s stock after purchasing an additional 123 shares during the quarter. Caterpillar accounts for approximately 1.7% of Pacific Wealth Strategies Group Inc.’s investment portfolio, making the stock its 15th largest holding. Pacific Wealth Strategies Group Inc.’s holdings in Caterpillar were worth $2,281,000 as of its most recent SEC filing.

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

Caterpillar Trading Down 0.8 %

Shares of Caterpillar stock opened at $376.20 on Friday. Caterpillar Inc. has a 1 year low of $223.76 and a 1 year high of $403.60. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.78. The stock has a market cap of $182.42 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 1.86 and a beta of 1.10. The firm has a fifty day moving average price of $371.78 and a 200 day moving average price of $351.32.

Caterpillar (NYSE:CAT) last announced 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). The company had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The firm’s revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.52 earnings per share. Equities research analysts predict that Caterpillar Inc. will post 21.88 earnings per share for the current year.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be issued a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date is Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CAT. Truist Financial increased their price objective on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Citigroup reduced their price target on Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a research report on Thursday. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Robert W. Baird boosted their target price on shares of Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a report on Thursday. Finally, Morgan Stanley cut shares of Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $349.00 to $332.00 in a report on Monday, October 14th. Three 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. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $357.56.

Insider Activity at Caterpillar

In other news, Director Gerald Johnson bought 100 shares of the stock in a transaction dated Wednesday, September 4th. The shares were acquired at an average cost of $338.59 per share, with a total value of $33,859.00. Following the purchase, the director now directly owns 2,842 shares in the company, valued at $962,272.78. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Cheryl H. Johnson sold 2,975 shares of the business’s stock in a transaction that occurred on 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 $5,347,825.20. 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 bought 100 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 2,842 shares in the company, valued at approximately $962,272.78. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is owned by company insiders.

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.