Optimum Investment Advisors Sells 390 Shares of Caterpillar Inc. (NYSE:CAT)

Optimum Investment Advisors trimmed its holdings in Caterpillar Inc. (NYSE:CAT) by 8.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,408 shares of the industrial products company’s stock after selling 390 shares during the quarter. Caterpillar comprises about 0.7% of Optimum Investment Advisors’ portfolio, making the stock its 22nd biggest position. Optimum Investment Advisors’ holdings in Caterpillar were worth $1,724,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Thompson Investment Management Inc. acquired a new position in Caterpillar during the 1st quarter worth approximately $27,000. Bbjs Financial Advisors LLC acquired a new position in Caterpillar during the 2nd quarter worth approximately $28,000. Financial Connections Group Inc. acquired a new position in Caterpillar during the 2nd quarter worth approximately $28,000. Fairman Group LLC acquired a new position in Caterpillar during the 1st quarter worth approximately $29,000. Finally, Fairscale Capital LLC acquired a new position in Caterpillar during the 2nd quarter worth approximately $36,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Caterpillar

In other news, Director Gerald Johnson acquired 100 shares of Caterpillar stock in a transaction on Wednesday, September 4th. The stock was acquired at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gerald Johnson purchased 100 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was bought at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the acquisition, the director now directly owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.33% of the stock is owned by corporate insiders.

Caterpillar Stock Performance

CAT stock opened at $394.54 on Friday. The business has a 50 day moving average of $362.75 and a 200-day moving average of $350.23. Caterpillar Inc. has a 12-month low of $223.76 and a 12-month high of $403.60. The firm has a market cap of $192.95 billion, a PE ratio of 17.81, a P/E/G ratio of 1.85 and a beta of 1.10. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, beating the consensus estimate of $5.53 by $0.46. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The business had revenue of $16.69 billion during the quarter, compared to analyst estimates of $16.91 billion. During the same period in the prior year, the company earned $5.55 earnings per share. Caterpillar’s revenue was down 3.6% compared to the same quarter last year. As a group, sell-side analysts expect that Caterpillar Inc. will post 21.91 earnings per share for the current year.

Caterpillar Announces Dividend

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

Analyst Ratings Changes

A number of research analysts recently weighed in on CAT shares. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Bank of America increased their price objective on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Citigroup increased 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. Raymond James assumed coverage on Caterpillar in a research note on Friday, June 28th. They issued a “market perform” rating for the company. Finally, JPMorgan Chase & Co. increased their price objective on Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research note on Monday. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Caterpillar currently has a consensus rating of “Hold” and an average target price of $355.50.

Caterpillar 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.