Prime Capital Investment Advisors LLC Acquires 2,128 Shares of Caterpillar Inc. (NYSE:CAT)

Prime Capital Investment Advisors LLC lifted its stake in Caterpillar Inc. (NYSE:CAT) by 7.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,069 shares of the industrial products company’s stock after purchasing an additional 2,128 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Caterpillar were worth $11,369,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CAT. Bbjs Financial Advisors LLC bought a new position in shares of Caterpillar during the second quarter valued at $28,000. Financial Connections Group Inc. bought a new position in shares of Caterpillar in the second quarter worth approximately $28,000. Capital Performance Advisors LLP purchased a new position in Caterpillar in the 3rd quarter worth approximately $36,000. Fairscale Capital LLC purchased a new stake in Caterpillar during the 2nd quarter valued at $36,000. Finally, POM Investment Strategies LLC raised its stake in shares of Caterpillar by 2,160.0% in 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 last quarter. Institutional investors own 70.98% of the company’s stock.

Insiders Place Their Bets

In other Caterpillar news, insider Lange Bob De sold 12,657 shares of Caterpillar stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 71,107 shares in the company, valued at approximately $29,171,646.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CAO William E. Schaupp sold 968 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $380.98, for a total transaction of $368,788.64. Following the transaction, the chief accounting officer now owns 1,686 shares in the company, valued at $642,332.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Lange Bob De sold 12,657 shares of the stock in a transaction on 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 directly owns 71,107 shares in the company, valued at approximately $29,171,646.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,749 shares of company stock valued at $9,251,912. Insiders own 0.29% of the company’s stock.

Caterpillar Stock Up 0.0 %

Shares of NYSE CAT traded up $0.10 during trading hours on Tuesday, hitting $396.64. 153,153 shares of the stock were exchanged, compared to its average volume of 2,617,105. The company has a market cap of $191.50 billion, a PE ratio of 18.40, a PEG ratio of 1.94 and a beta of 1.10. Caterpillar Inc. has a 12 month low of $238.88 and a 12 month high of $418.50. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. The firm has a fifty day moving average price of $377.62 and a 200-day moving average price of $353.01.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (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 period in the previous year, the company posted $5.52 earnings per share. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, sell-side analysts expect that Caterpillar Inc. will post 21.69 EPS for the current year.

Caterpillar Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CAT shares. Bank of America raised their price target on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a report on Monday, September 30th. Morgan Stanley lowered Caterpillar from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $349.00 to $332.00 in a report on Monday, October 14th. Evercore ISI lowered their price objective on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. JPMorgan Chase & Co. boosted their target price on shares of Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, Barclays lifted their price target on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $362.40.

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.