Caterpillar Inc. $CAT Shares Sold by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC trimmed its position in Caterpillar Inc. (NYSE:CAT) by 45.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,715 shares of the industrial products company’s stock after selling 16,289 shares during the quarter. Caterpillar makes up 0.6% of Kingswood Wealth Advisors LLC’s investment portfolio, making the stock its 23rd largest position. Kingswood Wealth Advisors LLC’s holdings in Caterpillar were worth $7,654,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Family Legacy Financial Solutions LLC acquired a new stake in Caterpillar during the 2nd quarter worth $32,000. Compass Financial Services Inc raised its stake in Caterpillar by 49.2% during the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 31 shares in the last quarter. Redmont Wealth Advisors LLC acquired a new stake in Caterpillar during the 1st quarter worth $33,000. Maseco LLP acquired a new stake in Caterpillar during the 2nd quarter worth $45,000. Finally, Park Place Capital Corp raised its stake in Caterpillar by 47.6% during the 2nd quarter. Park Place Capital Corp now owns 124 shares of the industrial products company’s stock worth $48,000 after acquiring an additional 40 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Performance

Shares of CAT stock opened at $495.80 on Tuesday. The company has a market cap of $232.27 billion, a price-to-earnings ratio of 25.22, a price-to-earnings-growth ratio of 3.03 and a beta of 1.46. The stock has a 50 day simple moving average of $438.25 and a 200-day simple moving average of $380.18. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $505.59. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50.

Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.88 by ($0.16). The business had revenue of $16.57 billion for the quarter, compared to analysts’ expectations of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The business’s quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the company posted $5.99 earnings per share. On average, equities analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be issued a dividend of $1.51 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a yield of 1.2%. Caterpillar’s payout ratio is currently 30.72%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Caterpillar from $475.00 to $520.00 and gave the company an “overweight” rating in a research note on Wednesday, August 6th. Citigroup restated a “buy” rating on shares of Caterpillar in a research note on Tuesday, September 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Caterpillar in a research note on Saturday, September 27th. Melius Research upgraded shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price objective on the stock in a research note on Wednesday, July 9th. Finally, Robert W. Baird lifted their price objective on shares of Caterpillar from $495.00 to $540.00 and gave the company an “outperform” rating in a research note on Wednesday, September 17th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Caterpillar currently has an average rating of “Moderate Buy” and an average target price of $466.53.

Insider Buying and Selling

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the transaction, the insider owned 8,632 shares in the company, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Donald J. Umpleby III sold 17,166 shares of Caterpillar stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $462.65, for a total transaction of $7,941,849.90. Following the transaction, the chairman owned 465,339 shares of the company’s stock, valued at approximately $215,289,088.35. The trade was a 3.56% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,819 shares of company stock valued at $16,885,492. Corporate insiders own 0.33% of the company’s stock.

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.