Caterpillar Inc. (NYSE:CAT) Shares Sold by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC lowered its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 16.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,453 shares of the industrial products company’s stock after selling 290 shares during the period. Icon Wealth Advisors LLC’s holdings in Caterpillar were worth $568,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of CAT. Smallwood Wealth Investment Management LLC grew its position in Caterpillar by 2.6% in the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 1,037 shares of the industrial products company’s stock valued at $405,000 after buying an additional 26 shares in the last quarter. First Bank & Trust boosted its holdings in shares of Caterpillar by 4.0% in the third quarter. First Bank & Trust now owns 709 shares of the industrial products company’s stock valued at $277,000 after acquiring an additional 27 shares in the last quarter. Washington Trust Bank increased its stake in shares of Caterpillar by 1.2% during the third quarter. Washington Trust Bank now owns 2,349 shares of the industrial products company’s stock valued at $919,000 after acquiring an additional 27 shares during the period. Pacifica Partners Inc. raised its holdings in Caterpillar by 1.6% during the third quarter. Pacifica Partners Inc. now owns 1,807 shares of the industrial products company’s stock worth $707,000 after purchasing an additional 28 shares in the last quarter. Finally, Vanguard Capital Wealth Advisors lifted its position in Caterpillar by 0.8% in the third quarter. Vanguard Capital Wealth Advisors now owns 3,466 shares of the industrial products company’s stock worth $1,356,000 after purchasing an additional 28 shares during the period. Institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

CAT has been the topic of a number of research reports. Bank of America boosted 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 cut their price target on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Morgan Stanley cut shares of Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $349.00 to $332.00 in a research note on Monday, October 14th. JPMorgan Chase & Co. increased their target price on shares of Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, Evercore ISI cut Caterpillar from an “in-line” rating to an “underperform” rating and upped their price target for the company from $321.00 to $365.00 in a report on Wednesday, November 13th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $365.33.

Insider Transactions at Caterpillar

In related news, insider Lange Bob De sold 12,657 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the transaction, the insider now owns 71,107 shares in the company, valued at $29,171,646.75. This represents a 15.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gerald Johnson bought 100 shares of the company’s stock in a transaction on 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 purchase, the director now owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. The trade was a 3.65 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 20,774 shares of company stock valued at $8,233,034. 0.29% of the stock is owned by insiders.

Caterpillar Trading Up 2.0 %

Caterpillar stock opened at $397.49 on Friday. The company’s fifty day moving average price is $386.81 and its two-hundred day moving average price is $355.84. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86. Caterpillar Inc. has a one year low of $246.01 and a one year high of $418.50. The company has a market capitalization of $191.91 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 1.92 and a beta of 1.10.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The business had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. During the same quarter last year, the firm earned $5.52 earnings per share. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. On average, analysts forecast that Caterpillar Inc. will post 21.68 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st were paid a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend was Monday, October 21st. Caterpillar’s dividend payout ratio is 26.15%.

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.