Bank of Jackson Hole Trust Raises Position in Caterpillar Inc. $CAT

Bank of Jackson Hole Trust raised its stake in Caterpillar Inc. (NYSE:CAT) by 20.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,023 shares of the industrial products company’s stock after purchasing an additional 345 shares during the quarter. Bank of Jackson Hole Trust’s holdings in Caterpillar were worth $785,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CAT. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Caterpillar in the second quarter worth approximately $28,000. Compass Financial Services Inc grew its holdings in shares of Caterpillar by 49.2% in the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 31 shares in the last quarter. Family Legacy Financial Solutions LLC bought a new position in shares of Caterpillar in the second quarter valued at approximately $32,000. Redmont Wealth Advisors LLC bought a new position in shares of Caterpillar in the first quarter valued at approximately $33,000. Finally, Harbor Asset Planning Inc. bought a new position in shares of Caterpillar in the second quarter valued at approximately $34,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Price Performance

Shares of NYSE CAT opened at $524.86 on Wednesday. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $544.99. The stock has a fifty day simple moving average of $468.92 and a two-hundred day simple moving average of $403.15. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. The firm has a market cap of $245.89 billion, a price-to-earnings ratio of 26.70, a price-to-earnings-growth ratio of 3.00 and a beta of 1.46.

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

Caterpillar Dividend Announcement

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

Insider Transactions at Caterpillar

In other news, Chairman Donald J. Umpleby III sold 17,168 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total value of $7,088,152.16. Following the completion of the transaction, the chairman directly owned 482,505 shares of the company’s stock, valued at $199,211,839.35. This trade represents a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jason Kaiser sold 2,161 shares of the firm’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of the transaction, the insider directly owned 8,632 shares of the company’s stock, valued at $3,605,586.40. The trade was a 20.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 55,985 shares of company stock valued at $25,559,300 over the last three months. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CAT shares. Citigroup upped their target price on Caterpillar from $540.00 to $570.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Caterpillar in a report on Tuesday, October 14th. JPMorgan Chase & Co. increased their price objective on Caterpillar from $505.00 to $650.00 and gave the company an “overweight” rating in a report on Tuesday, October 14th. Bank of America increased their price objective on Caterpillar from $517.00 to $594.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Finally, UBS Group increased their price objective on Caterpillar from $450.00 to $506.00 and gave the company a “neutral” rating in a report on Monday, October 13th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $518.19.

Caterpillar Company Profile

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.