Midland Wealth Advisors LLC Invests $3.20 Million in Caterpillar Inc. (NYSE:CAT)

Midland Wealth Advisors LLC bought a new position in shares of Caterpillar Inc. (NYSE:CATFree Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 10,827 shares of the industrial products company’s stock, valued at approximately $3,201,000. Caterpillar makes up about 0.2% of Midland Wealth Advisors LLC’s holdings, making the stock its 27th biggest holding.

A number of other large investors have also modified their holdings of the business. Partnership Wealth Management LLC purchased a new stake in shares of Caterpillar in the fourth quarter valued at about $26,000. Gilfoyle & Co LLC purchased a new stake in shares of Caterpillar in the fourth quarter valued at about $30,000. Fortitude Family Office LLC purchased a new stake in shares of Caterpillar in the fourth quarter valued at about $39,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of Caterpillar in the fourth quarter valued at about $40,000. Finally, DiNuzzo Private Wealth Inc. purchased a new stake in shares of Caterpillar in the fourth quarter valued at about $41,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Up 0.4 %

NYSE:CAT traded up $1.21 during mid-day trading on Wednesday, hitting $328.52. The stock had a trading volume of 4,817,209 shares, compared to its average volume of 2,585,883. The stock has a 50-day simple moving average of $350.79 and a two-hundred day simple moving average of $322.95. The company has a market capitalization of $160.66 billion, a PE ratio of 14.98, a PEG ratio of 1.69 and a beta of 1.14. Caterpillar Inc. has a twelve month low of $223.76 and a twelve month high of $382.01. The company has a current ratio of 1.35, a quick ratio of 0.83 and a debt-to-equity ratio of 1.41.

Caterpillar (NYSE:CATGet Free Report) last issued its earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share for the quarter, beating the consensus estimate of $5.12 by $0.48. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. The firm had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $16.07 billion. On average, equities research analysts anticipate that Caterpillar Inc. will post 21.81 EPS for the current year.

Caterpillar Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd will be issued a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.72%. This is a boost from Caterpillar’s previous quarterly dividend of $1.30. Caterpillar’s dividend payout ratio (DPR) is presently 23.48%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Evercore ISI lowered shares of Caterpillar from an “outperform” rating to an “in-line” rating and increased their target price for the stock from $321.00 to $338.00 in a research note on Tuesday, February 20th. TD Cowen increased their target price on shares of Caterpillar from $338.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Oppenheimer reaffirmed a “market perform” rating on shares of Caterpillar in a research note on Thursday, April 18th. The Goldman Sachs Group increased their target price on shares of Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, StockNews.com lowered shares of Caterpillar from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $323.35.

Read Our Latest Stock Analysis on Caterpillar

Insiders Place Their Bets

In other Caterpillar news, insider Lange Bob De sold 21,847 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $356.90, for a total transaction of $7,797,194.30. Following the sale, the insider now owns 71,115 shares of the company’s stock, valued at $25,380,943.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Cheryl H. Johnson sold 1,508 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $340.00, for a total transaction of $512,720.00. Following the transaction, the insider now directly owns 20,023 shares in the company, valued at $6,807,820. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Lange Bob De sold 21,847 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $356.90, for a total transaction of $7,797,194.30. Following the transaction, the insider now owns 71,115 shares in the company, valued at $25,380,943.50. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

About Caterpillar

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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