Sonora Investment Management Group LLC Grows Stock Position in Caterpillar Inc. $CAT

Sonora Investment Management Group LLC grew its holdings in Caterpillar Inc. (NYSE:CAT) by 4.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,938 shares of the industrial products company’s stock after purchasing an additional 919 shares during the period. Sonora Investment Management Group LLC’s holdings in Caterpillar were worth $10,945,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of CAT. Norges Bank acquired a new stake in shares of Caterpillar in the second quarter valued at about $2,165,899,000. Groupe la Francaise grew its position in Caterpillar by 82.0% in the 2nd quarter. Groupe la Francaise now owns 27,246 shares of the industrial products company’s stock valued at $10,820,000 after buying an additional 12,278 shares in the last quarter. Trivium Point Advisory LLC boosted its holdings in Caterpillar by 132.9% during the second quarter. Trivium Point Advisory LLC now owns 1,926 shares of the industrial products company’s stock worth $748,000 after buying an additional 1,099 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Caterpillar by 9.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company’s stock valued at $26,037,000 after buying an additional 7,125 shares during the period. Finally, Palmer Knight Co bought a new stake in Caterpillar in the second quarter worth $5,884,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Trading Down 0.1%

Shares of CAT stock opened at $589.31 on Wednesday. The company has a current ratio of 1.38, a quick ratio of 0.86 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $275.79 billion, a P/E ratio of 30.25, a P/E/G ratio of 2.78 and a beta of 1.57. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $627.50. The firm’s 50 day moving average is $558.57 and its 200 day moving average is $465.74.

Caterpillar (NYSE:CAT) last issued 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. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The firm had revenue of $17.64 billion during the quarter, compared to analyst estimates of $16.72 billion. During the same quarter in the prior year, the business earned $5.17 earnings per share. Caterpillar’s revenue for the quarter was up 9.5% on a year-over-year basis. Research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Tuesday, January 20th will be paid a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, January 20th. Caterpillar’s payout ratio is currently 31.01%.

Insider Activity at Caterpillar

In related news, insider Jason Kaiser sold 10,707 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $563.60, for a total transaction of $6,034,465.20. Following the completion of the transaction, the insider directly owned 8,649 shares in the company, valued at $4,874,576.40. This trade represents a 55.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $571.44, for a total transaction of $5,714,400.00. Following the sale, the chief financial officer owned 55,460 shares in the company, valued at $31,692,062.40. The trade was a 15.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 79,061 shares of company stock valued at $41,949,366 in the last ninety days. 0.33% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Caterpillar in a research note on Wednesday, November 5th. Jefferies Financial Group increased their target price on Caterpillar from $570.00 to $700.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. JPMorgan Chase & Co. lifted their target price on Caterpillar from $650.00 to $730.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Evercore ISI lifted their target price on Caterpillar from $476.00 to $630.00 and gave the stock an “outperform” rating in a report on Monday, November 17th. Finally, Oppenheimer upped their target price on Caterpillar from $513.00 to $645.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $612.16.

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.