Pinnacle Wealth Management Advisory Group LLC Purchases 1,031 Shares of Caterpillar Inc. $CAT

Pinnacle Wealth Management Advisory Group LLC increased its position in shares of Caterpillar Inc. (NYSE:CAT) by 16.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,161 shares of the industrial products company’s stock after purchasing an additional 1,031 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Caterpillar were worth $2,780,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CAT. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Caterpillar in the 2nd quarter valued at $28,000. Family Legacy Financial Solutions LLC bought a new stake in Caterpillar in the second quarter valued at about $32,000. Harbor Asset Planning Inc. bought a new stake in Caterpillar in the second quarter valued at about $34,000. Compass Financial Services Inc raised its position in Caterpillar by 49.2% in the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 31 shares in the last quarter. Finally, Maseco LLP bought a new position in Caterpillar during the second quarter worth about $45,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Caterpillar

In related news, insider Lange Bob De sold 14,638 shares of Caterpillar stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $562.36, for a total value of $8,231,825.68. Following the completion of the sale, the insider directly owned 80,209 shares in the company, valued at $45,106,333.24. This trade represents a 15.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Maclennan bought 300 shares of the business’s stock in a transaction on Thursday, November 6th. The shares were acquired at an average price of $568.86 per share, for a total transaction of $170,658.00. Following the completion of the transaction, the director owned 7,947 shares in the company, valued at approximately $4,520,730.42. This trade represents a 3.92% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 71,823 shares of company stock valued at $34,477,790 over the last quarter. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Trading Down 1.2%

CAT opened at $562.82 on Friday. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $596.21. The stock has a market capitalization of $263.39 billion, a PE ratio of 28.89, a PEG ratio of 3.33 and a beta of 1.51. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 1.34. The firm has a 50-day moving average price of $491.77 and a two-hundred day moving average price of $418.73.

Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.52 by $0.43. The company had revenue of $17.64 billion for the quarter, compared to analyst estimates of $16.72 billion. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. Caterpillar’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the business earned $5.17 earnings per share. As a group, equities analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be paid a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s dividend payout ratio (DPR) is 31.01%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CAT shares. UBS Group upped their price objective on Caterpillar from $506.00 to $581.00 and gave the company a “neutral” rating in a research note on Tuesday. Hsbc Global Res upgraded Caterpillar from a “hold” rating to a “strong-buy” rating in a research report on Thursday. Morgan Stanley increased their price objective on Caterpillar from $350.00 to $380.00 and gave the stock an “underweight” rating in a research note on Thursday, October 30th. HSBC upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and boosted their target price for the company from $405.00 to $660.00 in a research note on Wednesday. Finally, Robert W. Baird increased their target price on shares of Caterpillar from $612.00 to $680.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $596.59.

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.