Summit Financial Wealth Advisors LLC cut its position in shares of Caterpillar, Inc. (NYSE:CAT) by 17.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,089 shares of the industrial products company’s stock after selling 672 shares during the quarter. Summit Financial Wealth Advisors LLC’s holdings in Caterpillar were worth $332,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Caterpillar by 6.1% during the second quarter. Vanguard Group Inc. now owns 41,225,175 shares of the industrial products company’s stock valued at $4,430,058,000 after buying an additional 2,377,623 shares in the last quarter. FMR LLC lifted its stake in Caterpillar by 11.7% during the second quarter. FMR LLC now owns 19,613,661 shares of the industrial products company’s stock valued at $2,107,684,000 after buying an additional 2,052,300 shares in the last quarter. Morgan Stanley lifted its stake in Caterpillar by 15.1% during the first quarter. Morgan Stanley now owns 10,398,677 shares of the industrial products company’s stock valued at $964,579,000 after buying an additional 1,365,856 shares in the last quarter. Primecap Management Co. CA lifted its stake in Caterpillar by 16.9% during the first quarter. Primecap Management Co. CA now owns 7,259,063 shares of the industrial products company’s stock valued at $673,351,000 after buying an additional 1,047,922 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Caterpillar by 8.1% during the first quarter. Geode Capital Management LLC now owns 5,575,420 shares of the industrial products company’s stock valued at $516,423,000 after buying an additional 419,191 shares in the last quarter. 69.34% of the stock is owned by institutional investors.

CAT has been the subject of a number of research analyst reports. BidaskClub raised shares of Caterpillar from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. Seaport Global Securities initiated coverage on shares of Caterpillar in a research report on Wednesday, September 6th. They issued a “neutral” rating and a $120.00 price target for the company. Wells Fargo & Company reissued an “outperform” rating on shares of Caterpillar in a research report on Wednesday, July 26th. Vetr lowered shares of Caterpillar from a “buy” rating to a “hold” rating and set a $120.03 price target for the company. in a research report on Tuesday, August 22nd. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $146.00 price target (up from $133.00) on shares of Caterpillar in a research report on Wednesday, October 18th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $133.70.

Shares of Caterpillar, Inc. (NYSE CAT) opened at 135.80 on Wednesday. The stock has a 50 day moving average of $128.14 and a 200 day moving average of $112.85. Caterpillar, Inc. has a 52 week low of $80.33 and a 52 week high of $140.44. The firm has a market cap of $80.25 billion, a P/E ratio of 758.66 and a beta of 1.26.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.68. Caterpillar had a return on equity of 23.22% and a net margin of 2.09%. The business had revenue of $11.41 billion for the quarter, compared to analysts’ expectations of $10.69 billion. During the same quarter in the prior year, the business earned $0.85 EPS. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. Equities analysts forecast that Caterpillar, Inc. will post $6.36 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Monday, October 23rd will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date is Friday, October 20th. Caterpillar’s dividend payout ratio (DPR) is presently 216.67%.

In related news, insider Suzette M. Long sold 13,859 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $114.30, for a total value of $1,584,083.70. Following the sale, the insider now owns 18,188 shares in the company, valued at approximately $2,078,888.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Lange Bob De sold 1,572 shares of the stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $137.58, for a total value of $216,275.76. Following the completion of the sale, the insider now owns 11,096 shares in the company, valued at approximately $1,526,587.68. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.

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Caterpillar Company Profile

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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