Turtle Creek Wealth Advisors LLC Increases Stake in Caterpillar Inc. $CAT

Turtle Creek Wealth Advisors LLC lifted its position in shares of Caterpillar Inc. (NYSE:CAT) by 4.9% in the third quarter, HoldingsChannel.com reports. The firm owned 30,578 shares of the industrial products company’s stock after purchasing an additional 1,438 shares during the period. Caterpillar comprises 1.3% of Turtle Creek Wealth Advisors LLC’s investment portfolio, making the stock its 16th largest position. Turtle Creek Wealth Advisors LLC’s holdings in Caterpillar were worth $14,590,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in Caterpillar during the second quarter valued at $2,165,899,000. Groupe la Francaise boosted its holdings in shares of Caterpillar by 82.0% during the 2nd quarter. Groupe la Francaise now owns 27,246 shares of the industrial products company’s stock valued at $10,820,000 after acquiring an additional 12,278 shares during the last quarter. Trivium Point Advisory LLC raised its stake in Caterpillar by 132.9% during the 2nd quarter. Trivium Point Advisory LLC now owns 1,926 shares of the industrial products company’s stock valued at $748,000 after buying an additional 1,099 shares during the last quarter. Union Bancaire Privee UBP SA increased its position in Caterpillar by 155.9% during the third quarter. Union Bancaire Privee UBP SA now owns 47,231 shares of the industrial products company’s stock valued at $21,014,000 after acquiring an additional 28,773 shares during the last quarter. Finally, Palmer Knight Co bought a new position in shares of Caterpillar in the 2nd quarter worth approximately $5,884,000. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Down 0.0%

Shares of CAT stock opened at $646.95 on Tuesday. The stock has a 50 day moving average of $588.42 and a 200 day moving average of $505.37. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $655.68. The stock has a market cap of $302.76 billion, a P/E ratio of 33.21, a P/E/G ratio of 2.50 and a beta of 1.57. The company has a current ratio of 1.38, a quick ratio of 0.86 and a debt-to-equity ratio of 1.34.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Monday, November 3rd. The industrial products company reported $4.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.52 by $0.43. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The company had revenue of $17.64 billion for the quarter, compared to the consensus estimate of $16.72 billion. During the same quarter in the prior year, the business posted $5.17 earnings per share. Caterpillar’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, sell-side analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Tuesday, January 20th will be issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Tuesday, January 20th. Caterpillar’s payout ratio is currently 31.01%.

Insider Buying and Selling

In other news, CAO William E. Schaupp sold 1,200 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $572.22, for a total value of $686,664.00. Following the transaction, the chief accounting officer directly owned 1,323 shares in the company, valued at approximately $757,047.06. This represents a 47.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jason Kaiser sold 10,707 shares of Caterpillar stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $563.60, for a total value of $6,034,465.20. Following the completion of the transaction, the insider directly owned 8,649 shares of the company’s stock, valued at approximately $4,874,576.40. This represents a 55.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 54,729 shares of company stock worth $31,084,308 over the last ninety days. 0.33% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CAT. Barclays boosted their price objective on Caterpillar from $485.00 to $555.00 and gave the company an “equal weight” rating in a research note on Thursday, October 30th. JPMorgan Chase & Co. raised their price target on Caterpillar from $730.00 to $740.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Citigroup upped their price objective on Caterpillar from $690.00 to $710.00 and gave the company a “buy” rating in a research report on Tuesday, January 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Caterpillar in a research note on Monday, December 29th. Finally, Hsbc Global Res upgraded Caterpillar from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $623.10.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.