AE Wealth Management LLC Has $1.73 Million Position in Caterpillar, Inc. (NYSE:CAT)

AE Wealth Management LLC increased its position in Caterpillar, Inc. (NYSE:CAT) by 99.9% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 18,660 shares of the industrial products company’s stock after buying an additional 9,324 shares during the period. AE Wealth Management LLC’s holdings in Caterpillar were worth $1,731,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Caterpillar during the fourth quarter worth approximately $1,757,000. Kentucky Retirement Systems bought a new stake in shares of Caterpillar during the fourth quarter worth approximately $3,937,000. Teachers Advisors LLC boosted its stake in shares of Caterpillar by 2.9% in the fourth quarter. Teachers Advisors LLC now owns 1,063,231 shares of the industrial products company’s stock worth $98,604,000 after buying an additional 29,493 shares in the last quarter. High Point Bank & Trust Co. boosted its position in Caterpillar by 3.9% in the fourth quarter. High Point Bank & Trust Co. now owns 4,119 shares of the industrial products company’s stock valued at $382,000 after buying an additional 155 shares during the period. Finally, Whalerock Point Partners LLC boosted its position in Caterpillar by 10.6% in the fourth quarter. Whalerock Point Partners LLC now owns 17,190 shares of the industrial products company’s stock valued at $1,595,000 after buying an additional 1,650 shares during the period. 70.55% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar, Inc. (NYSE:CAT) traded down 1.119% during mid-day trading on Tuesday, hitting $112.675. 2,468,612 shares of the stock were exchanged. Caterpillar, Inc. has a one year low of $79.93 and a one year high of $114.90. The company has a 50-day moving average price of $107.74 and a 200-day moving average price of $100.05. The company has a market cap of $66.50 billion, a P/E ratio of 629.469 and a beta of 1.23.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.26 by $0.23. The business had revenue of $11.33 billion during the quarter, compared to the consensus estimate of $10.96 billion. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. The business’s revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.09 EPS. Analysts forecast that Caterpillar, Inc. will post $4.90 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Saturday, August 19th. Stockholders of record on Thursday, July 20th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date is Tuesday, July 18th. This is an increase from Caterpillar’s previous quarterly dividend of $0.77. Caterpillar’s dividend payout ratio (DPR) is currently 2,080.00%.

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A number of equities research analysts have weighed in on the stock. Credit Suisse Group reiterated a “buy” rating and set a $123.00 target price on shares of Caterpillar in a research note on Thursday, June 22nd. Vetr downgraded shares of Caterpillar from a “sell” rating to a “strong sell” rating and set a $86.90 price objective for the company. in a report on Tuesday, April 25th. Robert W. Baird set a $102.00 price target on shares of Caterpillar and gave the company a “hold” rating in a report on Wednesday, April 12th. Goldman Sachs Group, Inc. (The) raised shares of Caterpillar from a “buy” rating to a “conviction-buy” rating and set a $120.00 price objective on the stock in a research report on Tuesday, April 4th. Finally, Bank of America Corp set a $120.00 target price on shares of Caterpillar and gave the stock a “buy” rating in a research report on Tuesday, June 20th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Caterpillar currently has a consensus rating of “Hold” and a consensus target price of $105.78.

In other news, insider Bradley M. Halverson sold 182,612 shares of the stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $114.05, for a total value of $20,826,898.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.15% of the company’s stock.

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