Fonville Wealth Management LLC Acquires Shares of 527 Caterpillar Inc. (NYSE:CAT)

by · The Cerbat Gem

Fonville Wealth Management LLC purchased a new position in Caterpillar Inc. (NYSE:CAT – Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 527 shares of the industrial products company’s stock, valued at approximately $206,000.

Other hedge funds have also recently made changes to their positions in the company. Norden Group LLC purchased a new position in Caterpillar in the 1st quarter worth approximately $672,000. Diversify Advisory Services LLC purchased a new stake in Caterpillar during the 1st quarter valued at $926,000. Mission Wealth Management LP raised its stake in Caterpillar by 40.5% during the 1st quarter. Mission Wealth Management LP now owns 6,207 shares of the industrial products company’s stock valued at $2,274,000 after buying an additional 1,789 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Caterpillar by 0.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 136,815 shares of the industrial products company’s stock valued at $50,133,000 after buying an additional 570 shares during the last quarter. Finally, Precision Wealth Strategies LLC purchased a new stake in Caterpillar during the 1st quarter valued at $217,000. 70.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Robert W. Baird upped their price objective on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research note on Thursday. Evercore ISI reduced their price objective on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Bank of America upped their target price on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Citigroup dropped their target price on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a report on Thursday. Finally, StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $357.56.

Get Our Latest Research Report on CAT

Caterpillar Price Performance

Shares of CAT traded up $4.49 during midday trading on Friday, hitting $380.69. 389,297 shares of the company traded hands, compared to its average volume of 2,618,373. The firm has a 50 day moving average of $371.78 and a 200-day moving average of $351.32. Caterpillar Inc. has a 52 week low of $232.88 and a 52 week high of $403.60. The stock has a market cap of $184.60 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 1.86 and a beta of 1.10. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.78 and a current ratio of 1.40.

Caterpillar (NYSE:CAT – Get Free Report) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.33 by ($0.16). The business had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.52 earnings per share. On average, analysts forecast that Caterpillar Inc. will post 21.88 EPS for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be given a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s dividend payout ratio is 26.15%.

Insider Activity

In other Caterpillar news, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total value of $1,018,878.00. Following the completion of the sale, the insider now owns 15,615 shares of the company’s stock, valued at $5,347,825.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the sale, the insider now owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction that occurred on 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 of the company’s stock, valued at $5,347,825.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

Caterpillar Company Profile

(Free Report)

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.

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