Caterpillar Inc. (NYSE:CAT) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC cut its stake in shares of Caterpillar Inc. (NYSE:CAT) by 5.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 69,925 shares of the industrial products company’s stock after selling 3,722 shares during the quarter. Private Advisor Group LLC’s holdings in Caterpillar were worth $17,493,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CAT. West Financial Advisors LLC acquired a new position in shares of Caterpillar during the second quarter worth $25,000. Northwest Capital Management Inc acquired a new position in Caterpillar in the second quarter valued at approximately $25,000. Atlas Capital Advisors LLC increased its stake in Caterpillar by 272.4% in the first quarter. Atlas Capital Advisors LLC now owns 108 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 79 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings 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 purchasing an additional 95 shares in the last quarter. Finally, TFC Financial Management Inc. lifted its position in shares of Caterpillar by 470.8% during the 1st quarter. TFC Financial Management Inc. now owns 137 shares of the industrial products company’s stock worth $31,000 after buying an additional 113 shares during the last quarter. Institutional investors and hedge funds own 69.20% of the company’s stock.

Caterpillar Price Performance

CAT traded down $2.68 on Thursday, hitting $248.41. 458,356 shares of the company were exchanged, compared to its average volume of 3,056,165. Caterpillar Inc. has a fifty-two week low of $204.04 and a fifty-two week high of $293.88. 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 firm has a market capitalization of $126.46 billion, a P/E ratio of 14.23, a price-to-earnings-growth ratio of 0.98 and a beta of 1.09. The business’s fifty day moving average is $260.65 and its 200 day moving average is $252.04.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $5.52 earnings per share for the quarter, topping analysts’ consensus estimates of $4.75 by $0.77. The business had revenue of $16.81 billion for the quarter, compared to analysts’ expectations of $16.57 billion. Caterpillar had a return on equity of 56.29% and a net margin of 13.69%. The company’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.95 EPS. As a group, sell-side analysts anticipate that Caterpillar Inc. will post 20.48 EPS for the current year.

Caterpillar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Monday, October 23rd will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Friday, October 20th. Caterpillar’s dividend payout ratio (DPR) is presently 29.46%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. increased their target price 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. The Goldman Sachs Group cut their price target on Caterpillar from $315.00 to $274.00 and set a “buy” rating on the stock in a research report on Wednesday, November 1st. StockNews.com upgraded shares of Caterpillar from a “buy” rating to a “strong-buy” rating in a research report on Monday, October 30th. Barclays increased their price target on shares of Caterpillar from $225.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 2nd. Finally, Bank of America decreased their target price on shares of Caterpillar from $323.00 to $297.00 in a research note on Wednesday, October 11th. Three analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $267.68.

Insider Buying and Selling

In other news, insider Anthony D. Fassino sold 2,923 shares of the stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $279.00, for a total value of $815,517.00. Following the sale, the insider now directly owns 16,182 shares in the company, valued at $4,514,778. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.33% of the company’s stock.

Caterpillar Company 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.