AlphaCore Capital LLC Has $401,000 Position in Caterpillar Inc. (NYSE:CAT)

AlphaCore Capital LLC cut its stake in Caterpillar Inc. (NYSE:CAT) by 5.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,026 shares of the industrial products company’s stock after selling 58 shares during the period. AlphaCore Capital LLC’s holdings in Caterpillar were worth $401,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Smallwood Wealth Investment Management LLC grew its stake in Caterpillar by 2.6% during the third quarter. Smallwood Wealth Investment Management LLC now owns 1,037 shares of the industrial products company’s stock worth $405,000 after buying an additional 26 shares in the last quarter. First Bank & Trust boosted its position in shares of Caterpillar by 4.0% during the 3rd quarter. First Bank & Trust now owns 709 shares of the industrial products company’s stock worth $277,000 after acquiring an additional 27 shares in the last quarter. Washington Trust Bank increased its stake in Caterpillar by 1.2% in the third quarter. Washington Trust Bank now owns 2,349 shares of the industrial products company’s stock valued at $919,000 after acquiring an additional 27 shares during the last quarter. Pacifica Partners Inc. raised its position in Caterpillar by 1.6% during the third quarter. Pacifica Partners Inc. now owns 1,807 shares of the industrial products company’s stock valued at $707,000 after purchasing an additional 28 shares in the last quarter. Finally, Vanguard Capital Wealth Advisors lifted its stake in Caterpillar by 0.8% during the third quarter. Vanguard Capital Wealth Advisors now owns 3,466 shares of the industrial products company’s stock worth $1,356,000 after purchasing an additional 28 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Citigroup lowered their price target on Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a report on Thursday, October 31st. UBS Group increased their target price on shares of Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a report on Monday, November 4th. Evercore ISI lowered shares of Caterpillar from an “in-line” rating to an “underperform” rating and lifted their price target for the company from $321.00 to $365.00 in a report on Wednesday, November 13th. Bank of America increased their price objective on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, Morgan Stanley downgraded shares of Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $349.00 to $332.00 in a report on Monday, October 14th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $365.33.

Caterpillar Stock Performance

NYSE:CAT opened at $390.26 on Friday. The company has a market capitalization of $188.42 billion, a PE ratio of 18.09, a P/E/G ratio of 1.89 and a beta of 1.10. Caterpillar Inc. has a fifty-two week low of $241.81 and a fifty-two week high of $418.50. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40. The company has a 50 day simple moving average of $385.77 and a two-hundred day simple moving average of $355.46.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The firm had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. During the same period last year, the company posted $5.52 EPS. The business’s revenue was down 4.2% compared to the same quarter last year. Research analysts anticipate that Caterpillar Inc. will post 21.68 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st were given a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend was Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is 26.15%.

Insider Activity

In other Caterpillar news, insider Lange Bob De sold 12,657 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $410.25, for a total value of $5,192,534.25. Following the transaction, the insider now owns 71,107 shares in the company, valued at approximately $29,171,646.75. This represents a 15.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gerald Johnson purchased 100 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were acquired at an average price 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. This represents a 3.65 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 20,774 shares of company stock worth $8,233,034 in the last quarter. 0.29% of the stock is owned by corporate insiders.

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.