Caterpillar, Inc. (CAT) Position Reduced by Summit Financial Wealth Advisors LLC

Summit Financial Wealth Advisors LLC reduced its position in Caterpillar, Inc. (NYSE:CAT) by 5.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,761 shares of the industrial products company’s stock after selling 199 shares during the period. Summit Financial Wealth Advisors LLC’s holdings in Caterpillar were worth $349,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. First Interstate Bank boosted its stake in shares of Caterpillar by 30.4% in the first quarter. First Interstate Bank now owns 2,638 shares of the industrial products company’s stock worth $245,000 after buying an additional 615 shares during the period. Hyman Charles D raised its position in shares of Caterpillar by 0.9% in the first quarter. Hyman Charles D now owns 143,703 shares of the industrial products company’s stock worth $13,330,000 after buying an additional 1,295 shares in the last quarter. Oarsman Capital Inc. raised its position in shares of Caterpillar by 40.0% in the first quarter. Oarsman Capital Inc. now owns 4,355 shares of the industrial products company’s stock worth $404,000 after buying an additional 1,245 shares in the last quarter. InterOcean Capital LLC raised its position in shares of Caterpillar by 39.4% in the first quarter. InterOcean Capital LLC now owns 5,445 shares of the industrial products company’s stock worth $505,000 after buying an additional 1,540 shares in the last quarter. Finally, AE Wealth Management LLC raised its position in shares of Caterpillar by 99.9% in the first quarter. AE Wealth Management LLC now owns 18,660 shares of the industrial products company’s stock worth $1,731,000 after buying an additional 9,324 shares in the last quarter. 70.27% of the stock is owned by hedge funds and other institutional investors.

Caterpillar, Inc. (NYSE CAT) traded up 0.69% on Friday, reaching $113.92. 3,875,693 shares of the company traded hands. The stock has a 50 day moving average of $111.03 and a 200-day moving average of $101.77. Caterpillar, Inc. has a 1-year low of $79.93 and a 1-year high of $115.46. The stock has a market capitalization of $67.32 billion, a price-to-earnings ratio of 636.42 and a beta of 1.25.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.23. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. The firm had revenue of $11.33 billion for the quarter, compared to analysts’ expectations of $10.96 billion. During the same quarter in the previous year, the company posted $1.09 EPS. The company’s revenue was up 9.6% compared to the same quarter last year. On average, equities analysts anticipate that Caterpillar, Inc. will post $5.24 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Saturday, August 19th. Shareholders of record on Thursday, July 20th will be given a $0.78 dividend. The ex-dividend date is Tuesday, July 18th. This represents a $3.12 dividend on an annualized basis and a yield of 2.74%. This is a boost from Caterpillar’s previous quarterly dividend of $0.77. Caterpillar’s dividend payout ratio is presently 2,080.00%.

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A number of equities analysts recently weighed in on the stock. BidaskClub lowered shares of Caterpillar from a “hold” rating to a “sell” rating in a research report on Thursday. Vetr upgraded shares of Caterpillar from a “strong sell” rating to a “buy” rating and set a $120.03 target price for the company in a research report on Thursday, August 10th. Atlantic Securities upgraded shares of Caterpillar from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $85.00 to $115.00 in a research report on Thursday, August 3rd. Argus restated a “buy” rating and set a $113.10 target price (down previously from $130.00) on shares of Caterpillar in a research report on Wednesday, August 2nd. Finally, Tigress Financial upgraded shares of Caterpillar from a “neutral” rating to a “buy” rating in a research report on Monday, July 31st. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Caterpillar presently has an average rating of “Hold” and an average target price of $107.15.

In other Caterpillar news, insider Suzette M. Long sold 13,859 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $114.30, for a total value of $1,584,083.70. Following the transaction, the insider now owns 18,188 shares of the company’s stock, valued at $2,078,888.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Bradley M. Halverson sold 182,612 shares of the company’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $114.05, for a total transaction of $20,826,898.60. The disclosure for this sale can be found here. Insiders sold 201,471 shares of company stock worth $22,979,332 in the last ninety days. 0.15% of the stock is currently owned by corporate insiders.

About Caterpillar

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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