Boomfish Wealth Group LLC Makes New Investment in Caterpillar Inc. (NYSE:CAT)

Boomfish Wealth Group LLC purchased a new stake in shares of Caterpillar Inc. (NYSE:CAT) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 572 shares of the industrial products company’s stock, valued at approximately $224,000.

A number of other large investors have also recently modified their holdings of the company. Occidental Asset Management LLC lifted its holdings in shares of Caterpillar by 5.7% in the 3rd quarter. Occidental Asset Management LLC now owns 10,920 shares of the industrial products company’s stock worth $4,271,000 after buying an additional 589 shares during the period. Prairie Sky Financial Group LLC bought a new stake in shares of Caterpillar in the third quarter valued at about $229,000. Creative Planning lifted its stake in Caterpillar by 1.7% in the third quarter. Creative Planning now owns 227,915 shares of the industrial products company’s stock worth $89,142,000 after acquiring an additional 3,772 shares during the period. CX Institutional grew its holdings in Caterpillar by 872.0% during the 3rd quarter. CX Institutional now owns 26,788 shares of the industrial products company’s stock worth $10,477,000 after acquiring an additional 24,032 shares in the last quarter. Finally, Sivia Capital Partners LLC increased its position in Caterpillar by 15.9% during the 3rd quarter. Sivia Capital Partners LLC now owns 1,108 shares of the industrial products company’s stock valued at $434,000 after purchasing an additional 152 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

CAT has been the topic of a number of recent research reports. UBS Group increased their price objective on shares of Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research note on Wednesday, August 7th. Raymond James initiated coverage on Caterpillar in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Citigroup upped their price objective on Caterpillar from $380.00 to $445.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Evercore ISI cut their target price on Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Finally, Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $349.00 to $332.00 in a research report on Monday. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Caterpillar has a consensus rating of “Hold” and an average price target of $355.50.

Insider Transactions at Caterpillar

In related news, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar 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 completion of the transaction, the insider now directly owns 15,615 shares in the company, valued at approximately $5,347,825.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction 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 owns 15,615 shares in the company, valued at approximately $5,347,825.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gerald Johnson acquired 100 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was purchased at an average price of $338.59 per share, with a total value of $33,859.00. Following the transaction, the director now owns 2,842 shares of the company’s stock, 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. Company insiders own 0.33% of the company’s stock.

Caterpillar Stock Performance

Shares of CAT stock opened at $393.95 on Tuesday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78. The business has a fifty day moving average of $358.99 and a 200 day moving average of $349.46. The firm has a market capitalization of $192.66 billion, a price-to-earnings ratio of 17.79, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. Caterpillar Inc. has a 1 year low of $223.76 and a 1 year high of $403.60.

Caterpillar (NYSE:CAT) last released 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 firm had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $16.91 billion. During the same quarter in the previous year, the company posted $5.55 earnings per share. The company’s revenue was down 3.6% compared to the same quarter last year. As a group, research analysts expect that Caterpillar Inc. will post 21.91 earnings per share for the current year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be paid a dividend of $1.41 per share. The ex-dividend date is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.43%. Caterpillar’s payout ratio is currently 25.46%.

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.