Apollon Wealth Management LLC Raises Position in Caterpillar Inc. (NYSE:CAT)

Apollon Wealth Management LLC grew its position in Caterpillar Inc. (NYSE:CAT) by 0.8% during the 3rd quarter, Holdings Channel reports. The fund owned 22,841 shares of the industrial products company’s stock after buying an additional 180 shares during the quarter. Apollon Wealth Management LLC’s holdings in Caterpillar were worth $8,934,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CAT. GSA Capital Partners LLP purchased a new stake in Caterpillar during the first quarter worth approximately $433,000. Sei Investments Co. increased its stake in Caterpillar by 14.1% during the 1st quarter. Sei Investments Co. now owns 114,337 shares of the industrial products company’s stock valued at $41,899,000 after buying an additional 14,121 shares during the period. Headlands Technologies LLC grew its stake in shares of Caterpillar by 10.6% in the 1st quarter. Headlands Technologies LLC now owns 982 shares of the industrial products company’s stock worth $360,000 after purchasing an additional 94 shares during the last quarter. Koshinski Asset Management Inc. boosted its holdings in shares of Caterpillar by 13.0% during the first quarter. Koshinski Asset Management Inc. now owns 17,249 shares of the industrial products company’s stock worth $6,320,000 after purchasing an additional 1,981 shares during the period. Finally, Rogco LP lifted its stake in Caterpillar by 2.8% in the first quarter. Rogco LP now owns 3,083 shares of the industrial products company’s stock valued at $1,130,000 after acquiring an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

Shares of Caterpillar stock opened at $396.79 on Tuesday. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86. The stock has a market cap of $191.57 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 1.94 and a beta of 1.10. The firm’s 50-day moving average is $376.80 and its 200 day moving average is $352.60. Caterpillar Inc. has a 1 year low of $238.88 and a 1 year high of $418.50.

Caterpillar (NYSE:CAT) last released its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The firm had revenue of $16.11 billion during the quarter, compared to analysts’ expectations of $16.37 billion. During the same period in the prior year, the company posted $5.52 earnings per share. The company’s revenue was down 4.2% compared to the same quarter last year. Sell-side analysts anticipate that Caterpillar Inc. will post 21.69 EPS for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be given a dividend of $1.41 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.42%. Caterpillar’s dividend payout ratio (DPR) is 26.15%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CAT. Evercore ISI lowered their price target on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Morgan Stanley downgraded Caterpillar from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $349.00 to $332.00 in a research report on Monday, October 14th. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Robert W. Baird raised their price target on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. Finally, Barclays lifted their price target on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $362.40.

Insider Activity

In related news, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar 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 completion of the sale, the insider now owns 15,615 shares of the company’s stock, valued at $5,347,825.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Anthony D. Fassino sold 3,185 shares of the company’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 transaction, the insider now owns 33,442 shares of the company’s stock, valued at $11,750,181.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Cheryl H. Johnson sold 2,975 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total value 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,749 shares of company stock worth $9,251,912. Company 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.