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

Chesapeake Wealth Management lifted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 7.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,480 shares of the industrial products company’s stock after buying an additional 177 shares during the period. Chesapeake Wealth Management’s holdings in Caterpillar were worth $970,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of CAT. Caprock Group LLC grew its stake in shares of Caterpillar by 14.7% in the 3rd quarter. Caprock Group LLC now owns 12,937 shares of the industrial products company’s stock worth $5,060,000 after acquiring an additional 1,661 shares in the last quarter. OneAscent Wealth Management LLC bought a new stake in Caterpillar in the 3rd quarter worth about $743,000. Aviso Wealth Management increased its stake in Caterpillar by 113.2% in the 3rd quarter. Aviso Wealth Management now owns 2,034 shares of the industrial products company’s stock valued at $795,000 after buying an additional 1,080 shares during the last quarter. Braun Stacey Associates Inc. boosted its stake in shares of Caterpillar by 2,277.1% in the 3rd quarter. Braun Stacey Associates Inc. now owns 33,874 shares of the industrial products company’s stock worth $13,249,000 after buying an additional 32,449 shares during the last quarter. Finally, Richard C. Young & CO. LTD. grew its holdings in shares of Caterpillar by 0.4% in the third quarter. Richard C. Young & CO. LTD. now owns 56,791 shares of the industrial products company’s stock valued at $22,212,000 after acquiring an additional 232 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Up 0.1 %

Shares of NYSE CAT opened at $384.53 on Tuesday. 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 company has a market cap of $185.65 billion, a P/E ratio of 17.83, a P/E/G ratio of 1.90 and a beta of 1.10. Caterpillar Inc. has a 52 week low of $241.81 and a 52 week high of $418.50. The business has a 50-day simple moving average of $381.86 and a two-hundred day simple moving average of $354.37.

Caterpillar (NYSE:CAT) last released its quarterly earnings data 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 net margin of 16.26% and a return on equity of 59.09%. The firm had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. During the same quarter last year, the business posted $5.52 earnings per share. Caterpillar’s revenue was down 4.2% compared to the same quarter last year. Research analysts anticipate that Caterpillar Inc. will post 21.68 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be given a $1.41 dividend. The ex-dividend date is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.47%. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Robert W. Baird boosted their price objective on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. Citigroup reduced their price target on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Evercore ISI lowered shares of Caterpillar from an “in-line” rating to an “underperform” rating and lifted their price objective for the stock from $321.00 to $365.00 in a research report on Wednesday, November 13th. Barclays increased their target price on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. Finally, UBS Group lifted their price target on shares of Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a report on Monday, November 4th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Caterpillar presently has a consensus rating of “Hold” and a consensus target price of $365.33.

Insider Buying and Selling

In related news, Director Gerald Johnson bought 100 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was bought at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel M. Dickinson sold 1,300 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $418.00, for a total value of $543,400.00. Following the sale, the director now owns 4,976 shares in the company, valued at $2,079,968. The trade was a 20.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,749 shares of company stock worth $9,251,912 over the last ninety days. 0.29% of the stock is owned by corporate insiders.

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.