Thomas Story & Son LLC reduced its position in shares of Caterpillar Inc. (NYSE:CAT) by 2.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,100 shares of the industrial products company’s stock after selling 300 shares during the period. Thomas Story & Son LLC’s holdings in Caterpillar were worth $1,276,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Sound Income Strategies LLC boosted its stake in Caterpillar by 23.5% during the second quarter. Sound Income Strategies LLC now owns 378 shares of the industrial products company’s stock valued at $52,000 after buying an additional 72 shares in the last quarter. First Merchants Corp boosted its stake in Caterpillar by 0.4% during the second quarter. First Merchants Corp now owns 20,577 shares of the industrial products company’s stock valued at $2,804,000 after buying an additional 75 shares in the last quarter. Gables Capital Management Inc. boosted its stake in Caterpillar by 1.0% during the third quarter. Gables Capital Management Inc. now owns 7,730 shares of the industrial products company’s stock valued at $973,000 after buying an additional 75 shares in the last quarter. LexAurum Advisors LLC boosted its stake in Caterpillar by 4.7% during the second quarter. LexAurum Advisors LLC now owns 1,700 shares of the industrial products company’s stock valued at $232,000 after buying an additional 77 shares in the last quarter. Finally, River Wealth Advisors LLC boosted its stake in Caterpillar by 1.5% during the third quarter. River Wealth Advisors LLC now owns 5,167 shares of the industrial products company’s stock valued at $653,000 after buying an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 65.74% of the company’s stock.
CAT has been the subject of several research reports. Buckingham Research cut Caterpillar from a “buy” rating to a “neutral” rating and decreased their target price for the company from $162.00 to $140.00 in a research note on Thursday, July 25th. Wells Fargo & Co downgraded Caterpillar from an “outperform” rating to a “market perform” rating and set a $143.00 target price for the company. in a report on Wednesday, September 11th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $155.00 target price on shares of Caterpillar in a report on Wednesday, October 23rd. Stephens started coverage on Caterpillar in a report on Wednesday, August 14th. They set an “underweight” rating and a $100.00 target price for the company. Finally, Deutsche Bank upped their target price on Caterpillar from $113.00 to $123.00 and gave the company a “hold” rating in a report on Thursday, October 24th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $138.76.
Shares of NYSE CAT traded up $1.15 during mid-day trading on Friday, hitting $148.16. 2,714,785 shares of the company traded hands, compared to its average volume of 4,321,513. Caterpillar Inc. has a 1 year low of $111.75 and a 1 year high of $148.40. The stock has a market capitalization of $80.89 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 1.54 and a beta of 1.53. The company has a quick ratio of 0.99, a current ratio of 1.44 and a debt-to-equity ratio of 1.71. The business has a 50 day moving average of $131.66 and a two-hundred day moving average of $129.08.
Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, October 23rd. The industrial products company reported $2.66 EPS for the quarter, missing the consensus estimate of $2.82 by ($0.16). The company had revenue of $12.76 billion for the quarter, compared to analysts’ expectations of $13.49 billion. Caterpillar had a net margin of 10.99% and a return on equity of 42.51%. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.86 earnings per share. As a group, research analysts anticipate that Caterpillar Inc. will post 10.89 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be paid a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 2.78%. The ex-dividend date is Friday, October 18th. Caterpillar’s dividend payout ratio is currently 36.72%.
In related news, CAO Gary Michael Marvel sold 2,180 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $139.38, for a total value of $303,848.40. Following the completion of the sale, the chief accounting officer now directly owns 2,180 shares of the company’s stock, valued at approximately $303,848.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Suzette M. Long sold 5,019 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $126.34, for a total value of $634,100.46. Following the completion of the sale, the general counsel now directly owns 12,569 shares of the company’s stock, valued at $1,587,967.46. The disclosure for this sale can be found here. Over the last three months, insiders sold 95,141 shares of company stock valued at $13,717,142. Company insiders own 0.37% of the company’s stock.
Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.
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