Pacific Wealth Strategies Group Inc. Grows Stock Position in Caterpillar Inc. (NYSE:CAT)

Pacific Wealth Strategies Group Inc. boosted its position in Caterpillar Inc. (NYSE:CAT) by 2.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,832 shares of the industrial products company’s stock after purchasing an additional 123 shares during the quarter. Caterpillar comprises approximately 1.7% of Pacific Wealth Strategies Group Inc.’s investment portfolio, making the stock its 15th largest position. Pacific Wealth Strategies Group Inc.’s holdings in Caterpillar were worth $2,281,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bbjs Financial Advisors LLC acquired a new position in shares of Caterpillar during the 2nd quarter worth approximately $28,000. Financial Connections Group Inc. acquired a new position in shares of Caterpillar during the 2nd quarter valued at about $28,000. Fairscale Capital LLC acquired a new stake in Caterpillar during the second quarter worth about $36,000. POM Investment Strategies LLC raised its stake 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 purchasing an additional 108 shares during the period. Finally, TruNorth Capital Management LLC boosted its holdings in Caterpillar by 215.4% in the 2nd quarter. TruNorth Capital Management LLC now owns 123 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Evercore ISI cut their price objective on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Citigroup decreased their target price on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating on the stock in a research report on Thursday. Truist Financial lifted their target price on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. upped their price target on Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Three 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 stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $357.56.

Caterpillar Trading Down 0.8 %

NYSE CAT opened at $376.20 on Friday. Caterpillar Inc. has a 52 week low of $223.76 and a 52 week high of $403.60. The firm has a 50 day moving average of $371.78 and a two-hundred day moving average of $351.32. The stock has a market capitalization of $182.42 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 1.86 and a beta of 1.10. The company has a quick ratio of 0.78, a current ratio of 1.40 and a debt-to-equity ratio of 1.33.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The business had revenue of $16.11 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.52 earnings per share. As a group, research analysts expect that Caterpillar Inc. will post 21.88 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be paid a $1.41 dividend. The ex-dividend date is Monday, October 21st. This represents a $5.64 annualized dividend and a yield of 1.50%. Caterpillar’s dividend payout ratio is currently 26.15%.

Insider Transactions at Caterpillar

In related news, Director Gerald Johnson purchased 100 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were purchased 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 0.00 % increase in their ownership of the stock. The purchase was disclosed in a 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 dated 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 transaction, 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Gerald Johnson acquired 100 shares of Caterpillar stock in a transaction on Wednesday, September 4th. The shares were bought at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the purchase, the director now owns 2,842 shares in the company, valued at $962,272.78. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.29% of the company’s stock.

About Caterpillar

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.