BIP Wealth LLC Invests $287,000 in Caterpillar Inc. (NYSE:CAT)

BIP Wealth LLC acquired a new stake in Caterpillar Inc. (NYSE:CAT) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 732 shares of the industrial products company’s stock, valued at approximately $287,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Acadian Asset Management LLC grew its holdings in Caterpillar by 17.2% in the 1st quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock worth $3,308,000 after buying an additional 1,327 shares in the last quarter. Alpha Cubed Investments LLC grew its stake in shares of Caterpillar by 5.6% in the third quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock worth $45,591,000 after purchasing an additional 6,212 shares in the last quarter. First Affirmative Financial Network acquired a new position in shares of Caterpillar during the third quarter valued at $204,000. Inspire Advisors LLC raised its stake in shares of Caterpillar by 25.8% during the third quarter. Inspire Advisors LLC now owns 8,266 shares of the industrial products company’s stock valued at $3,233,000 after purchasing an additional 1,694 shares in the last quarter. Finally, Jackson Square Capital LLC grew its position in Caterpillar by 33.7% in the 3rd quarter. Jackson Square Capital LLC now owns 16,581 shares of the industrial products company’s stock valued at $6,485,000 after buying an additional 4,182 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Lange Bob De sold 12,657 shares of the business’s 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 $29,171,646.75. The trade was a 15.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gerald Johnson acquired 100 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were purchased at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the acquisition, the director now owns 2,842 shares of the company’s stock, valued at $962,272.78. This represents a 3.65 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 23,749 shares of company stock worth $9,251,912 in the last 90 days. Company insiders own 0.29% of the company’s stock.

Caterpillar Stock Down 0.6 %

Shares of NYSE:CAT opened at $382.26 on Wednesday. The firm has a 50 day simple moving average of $382.87 and a 200 day simple moving average of $354.71. Caterpillar Inc. has a 52 week low of $241.81 and a 52 week high of $418.50. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40. The company has a market cap of $184.56 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 1.90 and a beta of 1.10.

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 analysts’ consensus estimates of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The business had revenue of $16.11 billion during the quarter, compared to analysts’ expectations of $16.37 billion. During the same quarter in the previous year, the company earned $5.52 EPS. Caterpillar’s revenue for the quarter was down 4.2% on a year-over-year basis. As a group, research analysts expect that Caterpillar Inc. will post 21.68 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be paid 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 yield of 1.48%. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Morgan Stanley downgraded shares of Caterpillar from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $349.00 to $332.00 in a research report on Monday, October 14th. Barclays upped their target price on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Evercore ISI downgraded Caterpillar from an “in-line” rating to an “underperform” rating and boosted their price objective for the stock from $321.00 to $365.00 in a research note on Wednesday, November 13th. UBS Group raised their target price on Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a research note on Monday, November 4th. Finally, StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Four equities 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 data from MarketBeat.com, Caterpillar currently has an average rating of “Hold” and a consensus price target of $365.33.

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.