PMG Wealth Management Inc. Buys New Shares in Caterpillar Inc. (NYSE:CAT)

PMG Wealth Management Inc. purchased a new position in Caterpillar Inc. (NYSE:CAT) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 810 shares of the industrial products company’s stock, valued at approximately $294,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Peregrine Asset Advisers Inc. increased its holdings in shares of Caterpillar by 382.3% during the 4th quarter. Peregrine Asset Advisers Inc. now owns 8,131 shares of the industrial products company’s stock worth $2,950,000 after buying an additional 6,445 shares during the last quarter. Drum Hill Capital LLC purchased a new stake in Caterpillar during the fourth quarter valued at about $274,000. Dahring Cusmano LLC acquired a new stake in Caterpillar during the fourth quarter worth about $266,000. Bank of Stockton raised its holdings in shares of Caterpillar by 22.5% in the 4th quarter. Bank of Stockton now owns 1,963 shares of the industrial products company’s stock worth $712,000 after purchasing an additional 361 shares during the period. Finally, Transcend Capital Advisors LLC lifted its stake in shares of Caterpillar by 7.7% in the 4th quarter. Transcend Capital Advisors LLC now owns 3,627 shares of the industrial products company’s stock valued at $1,316,000 after purchasing an additional 258 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. UBS Group raised shares of Caterpillar from a “sell” rating to a “neutral” rating and increased their target price for the stock from $355.00 to $385.00 in a research report on Monday, February 3rd. StockNews.com raised shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Jefferies Financial Group lifted their target price on shares of Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a report on Friday, December 6th. Evercore ISI raised their price objective on Caterpillar from $365.00 to $375.00 and gave the company an “in-line” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. decreased their target price on Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $383.80.

Caterpillar Stock Down 2.7 %

CAT stock opened at $339.84 on Friday. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. The firm has a 50 day simple moving average of $369.54 and a 200-day simple moving average of $372.24. The company has a market capitalization of $162.42 billion, a P/E ratio of 15.40, a PEG ratio of 1.89 and a beta of 1.12. Caterpillar Inc. has a twelve month low of $307.05 and a twelve month high of $418.50.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. On average, equities research analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st were issued a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date was Tuesday, January 21st. Caterpillar’s dividend payout ratio is presently 25.56%.

Insider Transactions at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 6,279 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $408.59, for a total value of $2,565,536.61. Following the transaction, the insider now owns 33,565 shares of the company’s stock, valued at $13,714,323.35. This trade represents a 15.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jason Kaiser sold 2,425 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total value of $860,147.50. Following the transaction, the insider now directly owns 6,275 shares of the company’s stock, valued at $2,225,742.50. This trade represents a 27.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,704 shares of company stock worth $7,226,584. 0.29% of the stock is currently owned by corporate 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.