Caterpillar Inc. (NYSE:CAT) Shares Sold by Taylor Hoffman Wealth Management

Taylor Hoffman Wealth Management decreased its position in Caterpillar Inc. (NYSE:CAT) by 1.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,772 shares of the industrial products company’s stock after selling 73 shares during the quarter. Taylor Hoffman Wealth Management’s holdings in Caterpillar were worth $476,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CAT. Tortoise Investment Management LLC raised its stake in Caterpillar by 3,600.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 185 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 180 shares in the last quarter. Prestige Wealth Management Group LLC acquired a new position in Caterpillar in the second quarter valued at $27,000. Private Ocean LLC lifted its holdings in Caterpillar by 62.9% in the third quarter. Private Ocean LLC now owns 259 shares of the industrial products company’s stock valued at $33,000 after buying an additional 100 shares during the period. G&S Capital LLC acquired a new position in Caterpillar in the third quarter valued at $38,000. Finally, Kavar Capital Partners LLC acquired a new position in Caterpillar in the second quarter valued at $46,000. Institutional investors own 65.74% of the company’s stock.

In related news, insider Denise C. Johnson sold 4,172 shares of Caterpillar stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $146.67, for a total value of $611,907.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Gary Michael Marvel sold 2,180 shares of Caterpillar stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $139.38, for a total transaction of $303,848.40. Following the completion of the sale, the chief accounting officer now directly owns 2,180 shares in the company, valued at approximately $303,848.40. The disclosure for this sale can be found here. Insiders have sold a total of 95,141 shares of company stock worth $13,717,142 in the last ninety days. Corporate insiders own 0.37% of the company’s stock.

CAT has been the topic of several recent analyst reports. Buckingham Research lowered shares of Caterpillar from a “buy” rating to a “neutral” rating and dropped their target price for the company from $162.00 to $140.00 in a report on Thursday, July 25th. Wells Fargo & Co lowered shares of Caterpillar from an “outperform” rating to a “market perform” rating and set a $143.00 target price on the stock. in a report on Wednesday, September 11th. Morgan Stanley lowered their target price on shares of Caterpillar from $145.00 to $132.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. ValuEngine upgraded shares of Caterpillar from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Finally, Robert W. Baird upped their target price on shares of Caterpillar from $141.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $138.76.

NYSE CAT traded up $1.15 on Friday, hitting $148.16. The stock had a trading volume of 2,714,785 shares, compared to its average volume of 4,321,513. Caterpillar Inc. has a 52-week low of $111.75 and a 52-week high of $148.40. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.99 and a current ratio of 1.44. The company has a market capitalization of $80.89 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 1.54 and a beta of 1.53. The firm has a 50-day moving average of $131.66 and a 200-day moving average of $129.08.

Caterpillar (NYSE:CAT) last posted its earnings results on Wednesday, October 23rd. The industrial products company reported $2.66 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.82 by ($0.16). Caterpillar had a return on equity of 42.51% and a net margin of 10.99%. The firm had revenue of $12.76 billion during the quarter, compared to analysts’ expectations of $13.49 billion. During the same quarter in the prior year, the company earned $2.86 earnings per share. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, research analysts anticipate that Caterpillar Inc. will post 10.89 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be paid a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.78%. Caterpillar’s payout ratio is 36.72%.

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.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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