Reston Wealth Management LLC Invests $123,000 in Caterpillar Inc. (NYSE:CAT)

Reston Wealth Management LLC purchased a new stake in Caterpillar Inc. (NYSE:CAT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 313 shares of the industrial products company’s stock, valued at approximately $123,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Legal & General Group Plc raised its holdings in shares of Caterpillar by 2.0% in the 2nd quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock worth $1,286,582,000 after acquiring an additional 75,973 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Caterpillar by 5.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock worth $1,022,488,000 after purchasing an additional 165,358 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Caterpillar by 39,534.0% in the third quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock valued at $8,356,930,000 after purchasing an additional 2,131,276 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Caterpillar by 10.4% during the second quarter. Ameriprise Financial Inc. now owns 2,108,817 shares of the industrial products company’s stock valued at $702,431,000 after buying an additional 198,123 shares during the last quarter. Finally, Capital Research Global Investors grew its holdings in Caterpillar by 6.3% during the first quarter. Capital Research Global Investors now owns 2,020,100 shares of the industrial products company’s stock worth $740,225,000 after buying an additional 119,326 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on CAT. Bank of America raised their price objective on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research note on Monday, September 30th. UBS Group boosted their price target on shares of Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. increased 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 downgraded Caterpillar from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $349.00 to $332.00 in a research note on Monday, October 14th. Finally, Evercore ISI decreased their price target on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Caterpillar currently has a consensus rating of “Hold” and a consensus target price of $357.56.

Caterpillar Price Performance

NYSE CAT opened at $376.20 on Friday. The company has a quick ratio of 0.78, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. The company has a market cap of $182.42 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 1.86 and a beta of 1.10. Caterpillar Inc. has a 52 week low of $223.76 and a 52 week high of $403.60. The firm’s 50-day simple moving average is $371.78 and its two-hundred day simple moving average is $351.32.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The business had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. During the same quarter in the previous year, the company posted $5.52 earnings per share. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. Research analysts predict that Caterpillar Inc. will post 21.88 earnings per share for the current year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be paid a dividend of $1.41 per share. 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 1.50%. Caterpillar’s payout ratio is 26.15%.

Insider Buying and Selling

In related news, Director Gerald Johnson purchased 100 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were purchased at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the transaction, the director now directly owns 2,842 shares in the company, valued at approximately $962,272.78. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Gerald Johnson acquired 100 shares of Caterpillar stock in a transaction that occurred on Wednesday, September 4th. The stock was bought at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the purchase, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the sale, the insider now owns 33,442 shares in the company, valued at $11,750,181.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.