VestGen Investment Management Reduces Stock Holdings in Caterpillar Inc. $CAT

VestGen Investment Management trimmed its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 8.5% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,086 shares of the industrial products company’s stock after selling 101 shares during the period. VestGen Investment Management’s holdings in Caterpillar were worth $422,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Fiduciary Wealth Partners LLC grew its stake in Caterpillar by 426.3% during the 2nd quarter. Fiduciary Wealth Partners LLC now owns 721 shares of the industrial products company’s stock valued at $280,000 after purchasing an additional 584 shares during the last quarter. Ingalls & Snyder LLC grew its stake in Caterpillar by 0.8% during the 2nd quarter. Ingalls & Snyder LLC now owns 5,540 shares of the industrial products company’s stock valued at $2,151,000 after purchasing an additional 45 shares during the last quarter. Darden Wealth Group Inc purchased a new stake in Caterpillar during the 2nd quarter valued at about $208,000. Leavell Investment Management Inc. grew its stake in Caterpillar by 1.3% during the 2nd quarter. Leavell Investment Management Inc. now owns 14,897 shares of the industrial products company’s stock valued at $5,783,000 after purchasing an additional 189 shares during the last quarter. Finally, Burke & Herbert Bank & Trust Co. lifted its holdings in shares of Caterpillar by 9.3% in the 2nd quarter. Burke & Herbert Bank & Trust Co. now owns 4,826 shares of the industrial products company’s stock valued at $1,874,000 after buying an additional 411 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Up 0.3%

Shares of Caterpillar stock opened at $522.13 on Friday. The firm has a market capitalization of $244.61 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 2.98 and a beta of 1.46. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $544.99. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. The stock has a 50 day moving average of $464.46 and a 200 day moving average of $399.24.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing the consensus estimate of $4.88 by ($0.16). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The business had revenue of $16.57 billion during the quarter, compared to analysts’ expectations of $16.14 billion. During the same quarter in the previous year, the company posted $5.99 earnings per share. The company’s revenue was down .7% on a year-over-year basis. As a group, research analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be paid a $1.51 dividend. The ex-dividend date is Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a yield of 1.2%. Caterpillar’s dividend payout ratio (DPR) is currently 30.72%.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of the firm’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the sale, the director directly owned 6,917 shares in the company, valued at $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,166 shares of the firm’s stock in a transaction on Friday, October 10th. The shares were sold at an average price of $505.29, for a total value of $8,673,808.14. Following the completion of the sale, the chairman owned 448,173 shares in the company, valued at approximately $226,457,335.17. This represents a 3.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,985 shares of company stock worth $25,559,300 over the last ninety days. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

CAT has been the subject of several analyst reports. Royal Bank Of Canada initiated coverage on Caterpillar in a report on Wednesday. They issued a “sector perform” rating and a $560.00 price objective for the company. Bank of America upped their price target on Caterpillar from $517.00 to $594.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Robert W. Baird increased their target price on Caterpillar from $540.00 to $612.00 in a report on Monday, October 20th. Weiss Ratings reissued a “buy (b)” rating on shares of Caterpillar in a report on Tuesday, October 14th. Finally, Erste Group Bank raised Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $518.19.

About Caterpillar

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.