Hohimer Wealth Management LLC Has $1.55 Million Stake in Caterpillar Inc. (NYSE:CAT)

Hohimer Wealth Management LLC increased its position in shares of Caterpillar Inc. (NYSE:CAT) by 163.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,638 shares of the industrial products company’s stock after buying an additional 2,880 shares during the period. Hohimer Wealth Management LLC’s holdings in Caterpillar were worth $1,545,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the company. Partnership Wealth Management LLC bought a new stake in shares of Caterpillar during the 4th quarter valued at about $26,000. Richardson Financial Services Inc. acquired a new stake in shares of Caterpillar during the 4th quarter worth approximately $27,000. Thompson Investment Management Inc. bought a new stake in shares of Caterpillar in the 1st quarter valued at $27,000. Bbjs Financial Advisors LLC bought a new position in Caterpillar during the second quarter worth $28,000. Finally, Financial Connections Group Inc. acquired a new stake in Caterpillar in the second quarter worth $28,000. Institutional investors own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CAT. Citigroup started coverage on Caterpillar in a research report on Wednesday, June 26th. They issued a “buy” rating and a $380.00 target price for the company. Evercore ISI decreased their price target on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. StockNews.com raised shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Saturday, August 10th. Barclays upped their target price on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Finally, Raymond James started coverage on Caterpillar in a report on Friday, June 28th. They set a “market perform” rating for the company. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $336.31.

Caterpillar Stock Performance

Shares of CAT stock traded down $1.87 during trading hours on Thursday, hitting $334.88. 589,811 shares of the company were exchanged, compared to its average volume of 2,670,504. Caterpillar Inc. has a 52-week low of $223.76 and a 52-week high of $382.01. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. The firm has a fifty day simple moving average of $339.82 and a 200 day simple moving average of $343.25. The stock has a market capitalization of $163.77 billion, a price-to-earnings ratio of 15.20, a P/E/G ratio of 1.66 and a beta of 1.12.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, beating 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 firm had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $16.91 billion. During the same quarter in the prior year, the firm earned $5.55 EPS. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. Research analysts predict that Caterpillar Inc. will post 21.87 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd were given a $1.41 dividend. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $5.64 annualized dividend and a dividend yield of 1.68%. This is a positive change from Caterpillar’s previous quarterly dividend of $1.30. Caterpillar’s payout ratio is 25.46%.

Caterpillar declared that its board has approved a stock buyback program on Wednesday, June 12th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the industrial products company to purchase up to 12.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction 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 sale, the insider now owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the sale, the insider now directly owns 33,442 shares in the company, valued at $11,750,181.12. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Cheryl H. Johnson sold 2,975 shares of the firm’s 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 completion of the transaction, the insider now owns 15,615 shares of the company’s stock, valued at $5,347,825.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,668 shares of company stock worth $2,665,760. 0.33% of the stock is owned by corporate insiders.

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.