Caterpillar Stock Sold by Alliance Private Wealth LLC After Blowout Quarter

Caterpillar Inc.'s $CAT stock has been sold by Alliance Private Wealth LLC in the second quarter, according to its most recent disclosure with the SEC. The fund decreased its position in Caterpillar by 55.5% during this period, selling 2,880 shares and owning a total of 2,313 shares after the sale. This represents approximately 0.9% of Alliance Private Wealth LLC's portfolio, making it the company's 28th biggest holding.

Caterpillar's recent blowout quarter may have reset its stock ceiling, according to analysts. The industrial products company reported $8.17 earnings per share for the quarter, beating analysts' consensus estimates of $6.22 by $1.95. Caterpillar's revenue for the quarter was up 23.7% on a year-over-year basis.

The company also recently declared a quarterly dividend, which will be paid on August 19th to shareholders who own shares as of July 20th. This represents an increase from its previous quarterly dividend of $1.51 per share, and gives Caterpillar a dividend payout ratio (DPR) of 28.06%. Insider activity has also been significant, with insider Denise C. Johnson selling 12,605 shares in May at an average price of $907.91.

Several equities research analysts have issued reports on the stock, with HSBC raising its price target to $1,100 and DA Davidson boosting its target to $882.00. While Caterpillar currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.