Clarus Wealth Advisors Boosts Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Clarus Wealth Advisors increased its holdings in Caterpillar Inc. (NYSE:CAT) by 1.9% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 3,022 shares of the industrial products company’s stock after buying an additional 55 shares during the quarter. Clarus Wealth Advisors’ holdings in Caterpillar were worth $1,203,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CAT. Bruce G. Allen Investments LLC boosted its holdings in Caterpillar by 25.0% in the third quarter. Bruce G. Allen Investments LLC now owns 465 shares of the industrial products company’s stock worth $182,000 after purchasing an additional 93 shares during the last quarter. Wedmont Private Capital lifted its holdings in shares of Caterpillar by 10.9% during the 3rd quarter. Wedmont Private Capital now owns 6,846 shares of the industrial products company’s stock valued at $2,726,000 after buying an additional 672 shares during the period. Marcum Wealth LLC boosted its stake in shares of Caterpillar by 3.4% in the 3rd quarter. Marcum Wealth LLC now owns 2,649 shares of the industrial products company’s stock worth $1,036,000 after buying an additional 87 shares during the last quarter. CWM LLC increased its position in Caterpillar by 11.8% during the third quarter. CWM LLC now owns 77,811 shares of the industrial products company’s stock valued at $30,433,000 after acquiring an additional 8,212 shares during the last quarter. Finally, Saxon Interests Inc. lifted its holdings in Caterpillar by 2.1% in the third quarter. Saxon Interests Inc. now owns 3,186 shares of the industrial products company’s stock valued at $1,246,000 after acquiring an additional 66 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Stock Performance

Shares of NYSE CAT opened at $396.19 on Thursday. The company has a market cap of $193.76 billion, a P/E ratio of 17.89, a P/E/G ratio of 1.73 and a beta of 1.10. Caterpillar Inc. has a 52-week low of $223.76 and a 52-week high of $401.17. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28. The firm’s fifty day moving average is $353.51 and its two-hundred day moving average is $348.44.

Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, topping analysts’ consensus estimates of $5.53 by $0.46. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The company had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $16.91 billion. During the same period in the previous year, the business earned $5.55 earnings per share. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, analysts anticipate that Caterpillar Inc. will post 21.91 EPS for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be paid a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.42%. Caterpillar’s payout ratio is 25.46%.

Caterpillar announced that its board has authorized a share buyback program on Wednesday, June 12th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to purchase up to 12.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CAT. UBS Group upped their price target on shares of Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research report on Wednesday, August 7th. StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Barclays boosted their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. Citigroup raised their target price on Caterpillar from $380.00 to $445.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Raymond James started coverage on Caterpillar in a report on Friday, June 28th. They set a “market perform” rating for the company. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $347.56.

Insider Buying and Selling at Caterpillar

In other news, insider Cheryl H. Johnson sold 2,975 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the sale, the insider now directly owns 15,615 shares in the company, valued at approximately $5,347,825.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Caterpillar news, insider Cheryl H. Johnson sold 2,975 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the sale, the insider now directly owns 15,615 shares in the company, valued at $5,347,825.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Gerald Johnson bought 100 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was bought at an average price of $338.59 per share, with a total value of $33,859.00. Following the acquisition, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 7,668 shares of company stock worth $2,665,760 over the last 90 days. 0.33% of the stock is owned by insiders.

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.