Kingsview Wealth Management LLC Acquires 78 Shares of Caterpillar Inc. (NYSE:CAT)

Kingsview Wealth Management LLC lifted its position in Caterpillar Inc. (NYSE:CAT) by 0.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,736 shares of the industrial products company’s stock after acquiring an additional 78 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Caterpillar were worth $4,590,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CAT. Bbjs Financial Advisors LLC bought a new stake in Caterpillar in the 2nd quarter worth about $28,000. Financial Connections Group Inc. purchased a new position in shares of Caterpillar in the 2nd quarter worth approximately $28,000. Capital Performance Advisors LLP bought a new position in shares of Caterpillar in the third quarter valued at approximately $36,000. Fairscale Capital LLC purchased a new stake in shares of Caterpillar during the second quarter valued at approximately $36,000. Finally, POM Investment Strategies LLC lifted its holdings in Caterpillar by 2,160.0% during the second quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 108 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CAT. Morgan Stanley downgraded Caterpillar from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $349.00 to $332.00 in a research note on Monday, October 14th. Citigroup decreased their price objective on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Barclays boosted their target price on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Bank of America raised their price target on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, UBS Group upped their price objective on Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Caterpillar currently has a consensus rating of “Hold” and an average price target of $365.33.

Caterpillar Stock Performance

Shares of CAT opened at $397.49 on Friday. The stock’s 50-day simple moving average is $386.81 and its 200 day simple moving average is $355.84. The stock has a market capitalization of $191.91 billion, a price-to-earnings ratio of 18.43, a price-to-earnings-growth ratio of 1.92 and a beta of 1.10. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40. Caterpillar Inc. has a 52-week low of $246.01 and a 52-week high of $418.50.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The company had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period last year, the company posted $5.52 EPS. Research analysts forecast that Caterpillar Inc. will post 21.68 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Monday, October 21st were issued a dividend of $1.41 per share. The ex-dividend date was Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.42%. Caterpillar’s dividend payout ratio (DPR) is 26.15%.

Insider Buying and Selling

In other Caterpillar news, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were acquired at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the purchase, the director now directly owns 2,842 shares of the company’s stock, valued at $962,272.78. The trade was a 3.65 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lange Bob De sold 12,657 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $410.25, for a total value of $5,192,534.25. Following the completion of the transaction, the insider now owns 71,107 shares in the company, valued at $29,171,646.75. This represents a 15.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,774 shares of company stock valued at $8,233,034. Corporate insiders own 0.29% of the company’s stock.

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.