Caterpillar Inc. (NYSE:CAT) Shares Sold by Veritable L.P.

Veritable L.P. lowered its holdings in Caterpillar Inc. (NYSE:CAT) by 1.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,354 shares of the industrial products company’s stock after selling 373 shares during the quarter. Veritable L.P.’s holdings in Caterpillar were worth $6,238,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Northwest Capital Management Inc acquired a new stake in Caterpillar in the second quarter valued at $25,000. West Financial Advisors LLC acquired a new stake in Caterpillar in the 2nd quarter valued at about $25,000. Atlas Capital Advisors LLC increased its holdings in Caterpillar by 272.4% during the 1st quarter. Atlas Capital Advisors LLC now owns 108 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 79 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in Caterpillar by 730.8% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 108 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 95 shares during the last quarter. Finally, MUFG Securities EMEA plc lifted its holdings in shares of Caterpillar by 110.9% in the second quarter. MUFG Securities EMEA plc now owns 135 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 71 shares in the last quarter. 69.20% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Stock Up 2.6 %

Shares of NYSE:CAT opened at $247.86 on Wednesday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.92 and a current ratio of 1.45. The stock has a market capitalization of $126.18 billion, a P/E ratio of 14.04, a PEG ratio of 0.98 and a beta of 1.09. The stock has a 50-day simple moving average of $261.29 and a 200-day simple moving average of $252.04. Caterpillar Inc. has a 1 year low of $204.04 and a 1 year high of $293.88.

Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, October 31st. The industrial products company reported $5.52 EPS for the quarter, beating the consensus estimate of $4.75 by $0.77. Caterpillar had a return on equity of 56.29% and a net margin of 13.69%. The business had revenue of $16.81 billion for the quarter, compared to the consensus estimate of $16.57 billion. During the same period last year, the business posted $3.95 EPS. The company’s revenue was up 12.1% on a year-over-year basis. Equities analysts forecast that Caterpillar Inc. will post 20.48 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Monday, October 23rd will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Friday, October 20th. Caterpillar’s payout ratio is 29.46%.

Insider Transactions at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 2,923 shares of the stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $279.00, for a total transaction of $815,517.00. Following the transaction, the insider now directly owns 16,182 shares in the company, valued at approximately $4,514,778. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CAT. TD Cowen lifted their price objective on Caterpillar from $287.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 2nd. Tigress Financial increased their price objective on Caterpillar from $282.00 to $295.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. StockNews.com raised shares of Caterpillar from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 30th. Wells Fargo & Company raised their price target on shares of Caterpillar from $240.00 to $285.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Caterpillar from $315.00 to $320.00 and gave the company an “overweight” rating in a research report on Monday, October 16th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $267.68.

Caterpillar Profile

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.