BIP Wealth LLC Decreases Stock Position in Caterpillar Inc. $CAT

BIP Wealth LLC lessened its position in shares of Caterpillar Inc. (NYSE:CAT) by 5.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 651 shares of the industrial products company’s stock after selling 37 shares during the period. BIP Wealth LLC’s holdings in Caterpillar were worth $253,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mid American Wealth Advisory Group Inc. bought a new position in Caterpillar during the second quarter worth about $28,000. Family Legacy Financial Solutions LLC purchased a new stake in shares of Caterpillar during the 2nd quarter valued at approximately $32,000. Harbor Asset Planning Inc. bought a new position in Caterpillar in the 2nd quarter worth approximately $34,000. Compass Financial Services Inc grew its stake in Caterpillar by 49.2% in the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock valued at $31,000 after buying an additional 31 shares in the last quarter. Finally, Redmont Wealth Advisors LLC bought a new stake in Caterpillar during the 1st quarter valued at $33,000. 70.98% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction on Monday, August 11th. The shares were sold at an average price of $417.70, for a total value of $902,649.70. Following the transaction, the insider owned 8,632 shares in the company, valued at $3,605,586.40. This trade represents a 20.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the sale, the chairman owned 482,505 shares of the company’s stock, valued at approximately $199,211,839.35. The trade was a 3.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 55,985 shares of company stock valued at $25,559,300. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Stock Up 0.3%

Shares of NYSE:CAT opened at $522.13 on Friday. The firm has a market capitalization of $244.61 billion, a PE ratio of 26.56, a price-to-earnings-growth ratio of 2.98 and a beta of 1.46. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $544.99. The firm has a fifty day moving average of $464.46 and a 200 day moving average of $399.24.

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

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Monday, October 20th. Caterpillar’s dividend payout ratio (DPR) is presently 30.72%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CAT. Oppenheimer raised their price target on Caterpillar from $480.00 to $513.00 and gave the stock an “outperform” rating in a report on Monday, September 29th. Royal Bank Of Canada started coverage on Caterpillar in a report on Wednesday. They set a “sector perform” rating and a $560.00 target price for the company. Melius Research raised shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price target on the stock in a report on Wednesday, July 9th. Robert W. Baird raised their price objective on shares of Caterpillar from $540.00 to $612.00 in a research report on Monday, October 20th. Finally, Melius raised shares of Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 target price on the stock in a report on Wednesday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $518.19.

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.