Confluence Wealth Services Inc. Buys 48 Shares of Caterpillar Inc. (NYSE:CAT)

Confluence Wealth Services Inc. boosted its holdings in Caterpillar Inc. (NYSE:CAT) by 1.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,833 shares of the industrial products company’s stock after acquiring an additional 48 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Caterpillar were worth $1,277,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Thompson Investment Management Inc. bought a new position in Caterpillar in the 1st quarter valued at approximately $27,000. Fairman Group LLC bought a new position in Caterpillar in the 1st quarter valued at approximately $29,000. Bbjs Financial Advisors LLC bought a new position in Caterpillar in the 2nd quarter valued at approximately $28,000. Financial Connections Group Inc. bought a new position in Caterpillar in the 2nd quarter valued at approximately $28,000. Finally, Partnership Wealth Management LLC bought a new position in Caterpillar in the 4th quarter valued at approximately $26,000. 70.98% of the stock is owned by institutional investors.

Caterpillar Price Performance

CAT stock traded up $4.46 during trading on Friday, reaching $356.10. The company’s stock had a trading volume of 2,974,052 shares, compared to its average volume of 2,679,620. Caterpillar Inc. has a 1 year low of $223.76 and a 1 year high of $382.01. The company has a quick ratio of 0.83, a current ratio of 1.35 and a debt-to-equity ratio of 1.41. The company has a market capitalization of $174.15 billion, a P/E ratio of 16.08, a price-to-earnings-growth ratio of 1.72 and a beta of 1.12. The company’s fifty day moving average is $338.84 and its 200-day moving average is $342.55.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.53 by $0.46. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. The business had revenue of $16.69 billion during the quarter, compared to analyst estimates of $16.91 billion. During the same quarter in the prior year, the business posted $5.55 EPS. Caterpillar’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, research analysts expect that Caterpillar Inc. will post 21.57 earnings per share for the current fiscal year.

Caterpillar declared that its Board of Directors has approved a share buyback plan on Wednesday, June 12th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the industrial products company to buy up to 12.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd were given a dividend of $1.41 per share. This is a positive change from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date was Monday, July 22nd. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.58%. Caterpillar’s dividend payout ratio (DPR) is presently 25.46%.

Insider Activity

In other news, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 15,615 shares in the company, valued at $5,347,825.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Cheryl H. Johnson sold 1,508 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total value of $527,800.00. Following the completion of the transaction, the insider now owns 18,515 shares of the company’s stock, valued at approximately $6,480,250. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the completion of the transaction, the insider now directly owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Raymond James began coverage on Caterpillar in a research report on Friday, June 28th. They issued a “market perform” rating on the stock. UBS Group increased their price target on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a report on Wednesday, August 7th. Barclays increased their price target on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. StockNews.com raised Caterpillar from a “hold” rating to a “buy” rating in a report on Saturday, August 10th. Finally, Bank of America lowered their price target on Caterpillar from $385.00 to $376.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Caterpillar currently has an average rating of “Hold” and a consensus price target of $336.31.

Caterpillar Company Profile

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.