Midland Wealth Advisors LLC Sells 268 Shares of Caterpillar Inc. $CAT

Midland Wealth Advisors LLC reduced its stake in Caterpillar Inc. (NYSE:CAT) by 6.4% in the second quarter, Holdings Channel.com reports. The fund owned 3,905 shares of the industrial products company’s stock after selling 268 shares during the period. Midland Wealth Advisors LLC’s holdings in Caterpillar were worth $1,516,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in CAT. Trivium Point Advisory LLC boosted its position in shares of Caterpillar by 132.9% in the second quarter. Trivium Point Advisory LLC now owns 1,926 shares of the industrial products company’s stock valued at $748,000 after acquiring an additional 1,099 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Caterpillar by 9.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company’s stock worth $26,037,000 after acquiring an additional 7,125 shares during the period. Palmer Knight Co purchased a new stake in Caterpillar in the 2nd quarter worth approximately $5,884,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in Caterpillar by 11.2% in the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,315 shares of the industrial products company’s stock valued at $5,557,000 after purchasing an additional 1,440 shares during the period. Finally, Ransom Advisory Ltd purchased a new position in shares of Caterpillar during the 1st quarter valued at $427,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Price Performance

CAT opened at $562.82 on Monday. 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 stock has a market capitalization of $263.39 billion, a P/E ratio of 28.89, a PEG ratio of 3.33 and a beta of 1.51. The stock has a 50-day moving average price of $491.77 and a 200-day moving average price of $419.59. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $596.21.

Caterpillar (NYSE:CAT) last released its earnings results on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share for the quarter, topping analysts’ consensus estimates of $4.52 by $0.43. The company had revenue of $17.64 billion during the quarter, compared to the consensus estimate of $16.72 billion. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.Caterpillar’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.17 EPS. Equities analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.1%. Caterpillar’s dividend payout ratio is 31.01%.

Insider Activity at Caterpillar

In other news, CAO William E. Schaupp sold 1,200 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $572.22, for a total transaction of $686,664.00. Following the transaction, the chief accounting officer directly owned 1,323 shares of the company’s stock, valued at approximately $757,047.06. This trade represents a 47.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lange Bob De sold 14,638 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were 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 of the company’s stock, valued at approximately $45,106,333.24. This trade represents a 15.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 69,662 shares of company stock worth $33,575,140 in the last 90 days. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

CAT has been the topic of a number of recent analyst reports. Evercore ISI upgraded Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price objective on the stock in a research report on Tuesday, August 19th. Bank of America upped their target price on Caterpillar from $594.00 to $650.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. DA Davidson lifted their price target on Caterpillar from $408.00 to $569.00 and gave the company a “neutral” rating in a research report on Monday, November 3rd. Citigroup boosted their price objective on Caterpillar from $570.00 to $670.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Finally, Barclays raised their target price on shares of Caterpillar from $485.00 to $555.00 and gave the company an “equal weight” rating in a research note 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Caterpillar presently has a consensus rating of “Moderate Buy” and a consensus price target of $596.59.

Caterpillar 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.