Cornerstone Wealth Management LLC Buys 126 Shares of Caterpillar Inc. (NYSE:CAT)

Cornerstone Wealth Management LLC increased its stake in Caterpillar Inc. (NYSE:CAT) by 3.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,903 shares of the industrial products company’s stock after purchasing an additional 126 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Caterpillar were worth $1,527,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Thompson Investment Management Inc. bought a new position in Caterpillar in the 1st quarter worth $27,000. Bbjs Financial Advisors LLC bought a new position in Caterpillar in the 2nd quarter worth $28,000. Financial Connections Group Inc. bought a new position in Caterpillar in the 2nd quarter worth $28,000. Fairman Group LLC bought a new stake in Caterpillar during the first quarter valued at about $29,000. Finally, Fairscale Capital LLC bought a new stake in Caterpillar during the second quarter valued at about $36,000. 70.98% of the stock is owned by institutional investors.

Caterpillar Trading Up 0.2 %

CAT opened at $394.54 on Friday. The firm has a market cap of $192.95 billion, a P/E ratio of 17.81, a P/E/G ratio of 1.85 and a beta of 1.10. Caterpillar Inc. has a 12 month low of $223.76 and a 12 month high of $403.60. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. The stock has a 50-day moving average of $362.75 and a 200 day moving average of $350.23.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, topping the consensus estimate of $5.53 by $0.46. The company had revenue of $16.69 billion during the quarter, compared to analyst estimates of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The firm’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the business posted $5.55 earnings per share. As a group, research analysts forecast that Caterpillar Inc. will post 21.91 EPS for the current year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be given a $1.41 dividend. The ex-dividend date is Monday, October 21st. This represents a $5.64 annualized dividend and a yield of 1.43%. Caterpillar’s dividend payout ratio is currently 25.46%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CAT shares. Morgan Stanley cut Caterpillar from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $349.00 to $332.00 in a report on Monday. Raymond James started coverage on Caterpillar in a report on Friday, June 28th. They set a “market perform” rating on the stock. UBS Group raised 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. StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Finally, Citigroup raised their price target on Caterpillar from $380.00 to $445.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Caterpillar presently has an average rating of “Hold” and an average price target of $355.50.

Insider Buying and Selling

In other news, Director Gerald Johnson acquired 100 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was acquired 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 directly owns 2,842 shares in the company, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Caterpillar news, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total value 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gerald Johnson acquired 100 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was purchased at an average cost of $338.59 per share, with a total value of $33,859.00. Following the purchase, the director now owns 2,842 shares of the company’s stock, valued at $962,272.78. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by company 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.