Independent Advisor Alliance Sells 841 Shares of Caterpillar Inc. (NYSE:CAT)

by · The Cerbat Gem

Independent Advisor Alliance lessened its position in Caterpillar Inc. (NYSE:CAT – Free Report) by 1.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 58,373 shares of the industrial products company’s stock after selling 841 shares during the quarter. Independent Advisor Alliance’s holdings in Caterpillar were worth $15,936,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. West Financial Advisors LLC bought a new position in Caterpillar in the second quarter valued at $25,000. Northwest Capital Management Inc purchased a new stake in Caterpillar during the second quarter valued at about $25,000. Atlas Capital Advisors LLC boosted its position in Caterpillar by 272.4% during the first quarter. Atlas Capital Advisors LLC now owns 108 shares of the industrial products company’s stock valued at $25,000 after buying an additional 79 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its position in Caterpillar by 730.8% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 108 shares of the industrial products company’s stock valued at $25,000 after buying an additional 95 shares during the period. Finally, First Capital Advisors Group LLC. purchased a new stake in Caterpillar during the second quarter valued at about $30,000. Institutional investors own 69.20% of the company’s stock.

Analyst Ratings Changes

CAT has been the subject of several analyst reports. Sanford C. Bernstein upped their price target on shares of Caterpillar from $216.00 to $245.00 and gave the company a “market perform” rating in a research report on Thursday, December 21st. The Goldman Sachs Group cut their price target on shares of Caterpillar from $315.00 to $274.00 and set a “buy” rating for the company in a research report on Wednesday, November 1st. StockNews.com lowered shares of Caterpillar from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 20th. Tigress Financial increased their target price on shares of Caterpillar from $282.00 to $295.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. Finally, JPMorgan Chase & Co. increased their target price on shares of Caterpillar from $315.00 to $320.00 and gave the stock an “overweight” rating in a report on Monday, October 16th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $269.78.

Read Our Latest Report on Caterpillar

Caterpillar Stock Performance

Shares of CAT opened at $289.99 on Wednesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.45 and a quick ratio of 0.92. Caterpillar Inc. has a one year low of $204.04 and a one year high of $299.20. The company has a 50-day simple moving average of $259.58 and a two-hundred day simple moving average of $264.10. The firm has a market capitalization of $147.63 billion, a PE ratio of 16.59, a price-to-earnings-growth ratio of 1.06 and a beta of 1.13.

Caterpillar (NYSE:CAT – Get Free Report) last announced its earnings results on Tuesday, October 31st. The industrial products company reported $5.52 earnings per share for the quarter, beating analysts’ consensus estimates of $4.75 by $0.77. Caterpillar had a net margin of 13.69% and a return on equity of 56.29%. The business had revenue of $16.81 billion during the quarter, compared to the consensus estimate of $16.57 billion. During the same quarter last year, the firm earned $3.95 earnings per share. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, analysts anticipate that Caterpillar Inc. will post 20.58 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 20th. Shareholders of record on Monday, January 22nd will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date is Friday, January 19th. Caterpillar’s dividend payout ratio is 29.46%.

About Caterpillar

(Free Report)

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in the United States and internationally. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, tractors, excavators, telehandlers, motor graders, and pipelayers; compact track and multi-terrain, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.

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