Resolute Wealth Strategies LLC Sells 591 Shares of Caterpillar Inc. (NYSE:CAT)

Resolute Wealth Strategies LLC decreased its stake in shares of Caterpillar Inc. (NYSE:CAT) by 3.6% during the 4th quarter, Holdings Channel reports. The firm owned 15,961 shares of the industrial products company’s stock after selling 591 shares during the period. Caterpillar comprises about 3.2% of Resolute Wealth Strategies LLC’s investment portfolio, making the stock its 7th biggest position. Resolute Wealth Strategies LLC’s holdings in Caterpillar were worth $4,719,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Simon Quick Advisors LLC bought a new stake in Caterpillar in the 3rd quarter valued at $253,000. Stratos Wealth Partners LTD. boosted its stake in Caterpillar by 9.0% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 13,745 shares of the industrial products company’s stock valued at $3,753,000 after purchasing an additional 1,134 shares during the period. Stratos Wealth Advisors LLC lifted its position in shares of Caterpillar by 35.1% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 4,845 shares of the industrial products company’s stock valued at $1,323,000 after acquiring an additional 1,259 shares during the period. Channel Wealth LLC bought a new stake in shares of Caterpillar during the 3rd quarter valued at $210,000. Finally, GW Henssler & Associates Ltd. bought a new stake in shares of Caterpillar during the 3rd quarter valued at $243,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Transactions at Caterpillar

In other news, insider Lange Bob De sold 21,194 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $325.52, for a total value of $6,899,070.88. Following the transaction, the insider now directly owns 61,092 shares of the company’s stock, valued at approximately $19,886,667.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director David Maclennan purchased 350 shares of Caterpillar stock in a transaction on Friday, February 23rd. The stock was acquired at an average cost of $323.37 per share, for a total transaction of $113,179.50. Following the completion of the acquisition, the director now owns 5,238 shares of the company’s stock, valued at approximately $1,693,812.06. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Lange Bob De sold 21,194 shares of Caterpillar stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $325.52, for a total transaction of $6,899,070.88. Following the completion of the sale, the insider now directly owns 61,092 shares of the company’s stock, valued at $19,886,667.84. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Stifel Nicolaus downgraded Caterpillar from a “buy” rating to a “hold” rating and upped their target price for the company from $293.00 to $350.00 in a research report on Friday, April 26th. Citigroup upped their target price on Caterpillar from $255.00 to $340.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. The Goldman Sachs Group upped their target price on Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Wells Fargo & Company upped their target price on Caterpillar from $290.00 to $325.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. Finally, Evercore ISI downgraded Caterpillar from an “outperform” rating to an “in-line” rating and upped their price objective for the stock from $321.00 to $338.00 in a research report on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $323.35.

Caterpillar Trading Up 0.4 %

Shares of NYSE:CAT traded up $1.31 during mid-day trading on Friday, reaching $336.75. 1,977,087 shares of the company’s stock were exchanged, compared to its average volume of 2,750,444. The firm has a market capitalization of $164.69 billion, a price-to-earnings ratio of 15.20, a PEG ratio of 1.44 and a beta of 1.19. Caterpillar Inc. has a twelve month low of $205.60 and a twelve month high of $382.01. The business’s fifty day moving average price is $351.89 and its 200-day moving average price is $303.33. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.83 and a current ratio of 1.35.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.60 EPS for the quarter, beating analysts’ consensus estimates of $5.12 by $0.48. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. The firm had revenue of $15.80 billion for the quarter, compared to analyst estimates of $16.07 billion. On average, research analysts predict that Caterpillar Inc. will post 21.79 EPS for the current fiscal year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, April 22nd will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend is Friday, April 19th. Caterpillar’s dividend payout ratio is currently 23.48%.

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.