Jacksonville Wealth Management LLC Acquires Shares of 1,769 Caterpillar Inc. (NYSE:CAT)

Jacksonville Wealth Management LLC bought a new stake in shares of Caterpillar Inc. (NYSE:CAT) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,769 shares of the industrial products company’s stock, valued at approximately $642,000.

Several other hedge funds also recently modified their holdings of CAT. Retirement Wealth Solutions LLC acquired a new position in shares of Caterpillar during the 4th quarter worth about $34,000. Capital Performance Advisors LLP acquired a new position in Caterpillar during the third quarter valued at approximately $36,000. Albion Financial Group UT increased its stake in Caterpillar by 334.8% in the fourth quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 77 shares in the last quarter. Kimelman & Baird LLC boosted its position in shares of Caterpillar by 42.9% during the third quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 30 shares in the last quarter. Finally, Trivant Custom Portfolio Group LLC grew its holdings in shares of Caterpillar by 130.0% in the 4th quarter. Trivant Custom Portfolio Group LLC now owns 115 shares of the industrial products company’s stock valued at $42,000 after buying an additional 65 shares during the period. Institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CAT. Evercore ISI upgraded Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 target price on the stock in a report on Monday, January 13th. Morgan Stanley lowered Caterpillar from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $349.00 to $332.00 in a research report on Monday, October 14th. Bank of America raised their target price on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Robert W. Baird upped their price target on shares of Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. raised their price objective on shares of Caterpillar from $500.00 to $515.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $380.60.

Caterpillar Stock Up 0.4 %

CAT stock opened at $407.95 on Friday. Caterpillar Inc. has a twelve month low of $293.13 and a twelve month high of $418.50. The company has a market cap of $196.96 billion, a price-to-earnings ratio of 18.91, a P/E/G ratio of 1.97 and a beta of 1.13. 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 50 day moving average price of $381.07 and a two-hundred day moving average price of $369.19.

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

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be issued a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date is Tuesday, January 21st. Caterpillar’s payout ratio is currently 26.15%.

Insiders Place Their Bets

In related news, insider Cheryl H. Johnson sold 2,664 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $378.84, for a total value of $1,009,229.76. Following the transaction, the insider now owns 12,951 shares in the company, valued at approximately $4,906,356.84. This represents a 17.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO William E. Schaupp sold 968 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $380.98, for a total transaction of $368,788.64. Following the sale, the chief accounting officer now owns 1,686 shares of the company’s stock, valued at $642,332.28. This trade represents a 36.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,868 shares of company stock valued at $13,480,389 over the last 90 days. 0.29% of the stock is currently owned by insiders.

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.