Turtle Creek Wealth Advisors LLC Purchases 291 Shares of Caterpillar Inc. (NYSE:CAT)

Turtle Creek Wealth Advisors LLC increased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 1.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,114 shares of the industrial products company’s stock after acquiring an additional 291 shares during the period. Caterpillar comprises about 1.6% of Turtle Creek Wealth Advisors LLC’s investment portfolio, making the stock its 14th biggest position. Turtle Creek Wealth Advisors LLC’s holdings in Caterpillar were worth $7,867,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Bbjs Financial Advisors LLC bought a new stake in shares of Caterpillar during the second quarter worth $28,000. Financial Connections Group Inc. bought a new stake in shares of Caterpillar during the second quarter worth $28,000. Capital Performance Advisors LLP bought a new position in Caterpillar in the third quarter valued at about $36,000. Fairscale Capital LLC acquired a new position in Caterpillar during the 2nd quarter valued at about $36,000. Finally, POM Investment Strategies LLC boosted its stake in shares of Caterpillar by 2,160.0% in the 2nd quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 108 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Activity

In related news, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the transaction, the insider now owns 33,442 shares in the company, valued at $11,750,181.12. The trade was a 8.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the completion of the sale, the insider now owns 15,615 shares of the company’s stock, valued at $5,347,825.20. The trade was a 16.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,749 shares of company stock worth $9,251,912. Insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

CAT has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their price objective on shares of Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Morgan Stanley lowered Caterpillar from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $349.00 to $332.00 in a research report on Monday, October 14th. Bank of America raised their price target on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Evercore ISI lowered shares of Caterpillar from an “in-line” rating to an “underperform” rating and boosted their price objective for the stock from $321.00 to $365.00 in a research report on Wednesday. Finally, UBS Group raised their target price on shares of Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a research report on Monday, November 4th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $365.33.

Caterpillar Stock Performance

Shares of CAT traded down $3.29 during trading hours on Friday, hitting $384.07. The company had a trading volume of 2,165,453 shares, compared to its average volume of 2,613,751. The firm has a market cap of $185.43 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 1.91 and a beta of 1.10. 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 business has a fifty day moving average of $381.86 and a 200-day moving average of $354.07. Caterpillar Inc. has a 12 month low of $241.81 and a 12 month high of $418.50.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The firm had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The company’s revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.52 EPS. Equities analysts anticipate that Caterpillar Inc. will post 21.69 EPS for the current fiscal year.

Caterpillar Dividend Announcement

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

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.