Opal Wealth Advisors LLC Sells 44 Shares of Caterpillar Inc. (NYSE:CAT)

Opal Wealth Advisors LLC lessened its stake in Caterpillar Inc. (NYSE:CAT) by 2.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,656 shares of the industrial products company’s stock after selling 44 shares during the period. Opal Wealth Advisors LLC’s holdings in Caterpillar were worth $648,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Acadian Asset Management LLC raised its stake in Caterpillar by 17.2% during the first quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock worth $3,308,000 after buying an additional 1,327 shares during the last quarter. Alpha Cubed Investments LLC boosted its holdings in shares of Caterpillar by 5.6% during the 3rd quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock worth $45,591,000 after buying an additional 6,212 shares in the last quarter. Diversify Advisory Services LLC acquired a new stake in shares of Caterpillar during the 1st quarter worth approximately $926,000. First Affirmative Financial Network acquired a new position in shares of Caterpillar during the 3rd quarter valued at $204,000. Finally, Natixis Advisors LLC boosted its stake in Caterpillar by 3.5% during the second quarter. Natixis Advisors LLC now owns 278,259 shares of the industrial products company’s stock worth $92,688,000 after acquiring an additional 9,321 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $388.05 on Wednesday. Caterpillar Inc. has a fifty-two week low of $223.76 and a fifty-two week high of $403.60. The company’s 50-day moving average is $360.22 and its 200 day moving average is $349.61. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28. The company has a market capitalization of $189.78 billion, a P/E ratio of 17.52, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10.

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 the consensus estimate of $5.53 by $0.46. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The company had revenue of $16.69 billion during the quarter, compared to analyst estimates of $16.91 billion. During the same quarter last year, the business posted $5.55 EPS. Caterpillar’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, equities research analysts forecast that Caterpillar Inc. will post 21.91 earnings per share for the current year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be issued a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is currently 25.46%.

Insider Buying and Selling at Caterpillar

In related news, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were acquired at an average price of $338.59 per share, with a total value of $33,859.00. Following the acquisition, the director now owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. The trade was a 0.00 % increase in their position. The acquisition 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 firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CAT shares. Citigroup upped their price objective on shares of Caterpillar from $380.00 to $445.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Evercore ISI reduced their price objective on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Bank of America upped their target price on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Raymond James initiated coverage on shares of Caterpillar in a report on Friday, June 28th. They set a “market perform” rating for the company. Finally, StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Caterpillar currently has a consensus rating of “Hold” and an average price target of $355.50.

Caterpillar 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.