Caterpillar Inc. $CAT Stock Position Decreased by BLB&B Advisors LLC

BLB&B Advisors LLC cut its position in shares of Caterpillar Inc. (NYSE:CAT) by 0.7% in the second quarter, Holdings Channel reports. The firm owned 10,449 shares of the industrial products company’s stock after selling 72 shares during the period. BLB&B Advisors LLC’s holdings in Caterpillar were worth $4,056,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Caterpillar during the 2nd quarter valued at about $28,000. Compass Financial Services Inc increased its holdings in shares of Caterpillar by 49.2% during the 1st 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 during the last quarter. Family Legacy Financial Solutions LLC acquired a new position in shares of Caterpillar during the 2nd quarter valued at about $32,000. Harbor Asset Planning Inc. acquired a new position in shares of Caterpillar during the 2nd quarter valued at about $34,000. Finally, Total Wealth Planning & Management Inc. acquired a new position in shares of Caterpillar during the 2nd quarter valued at about $38,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $582.30 on Friday. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $596.21. The firm has a market capitalization of $272.80 billion, a PE ratio of 29.89, a PEG ratio of 3.33 and a beta of 1.46. The business’s 50 day moving average is $475.55 and its 200-day moving average is $406.43. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 1.34.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share for the quarter, topping the consensus estimate of $4.52 by $0.43. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The company had revenue of $17.64 billion for the quarter, compared to analyst estimates of $16.72 billion. During the same quarter last year, the firm earned $5.17 EPS. Caterpillar’s revenue for the quarter was up 9.5% compared to the same quarter last year. Sell-side analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s dividend payout ratio (DPR) is presently 30.72%.

Analysts Set New Price Targets

A number of brokerages have recently commented on CAT. DA Davidson increased their price objective on Caterpillar from $331.00 to $388.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Caterpillar in a report on Tuesday, October 14th. Oppenheimer raised their target price on Caterpillar from $513.00 to $645.00 and gave the company an “outperform” rating in a report on Thursday. Royal Bank Of Canada started coverage on Caterpillar in a report on Wednesday, October 22nd. They issued a “sector perform” rating and a $560.00 target price on the stock. Finally, Barclays raised their target price on Caterpillar from $485.00 to $555.00 and gave the company an “equal weight” rating in a report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $562.25.

Insider Transactions at Caterpillar

In other news, Chairman Donald J. Umpleby III sold 17,166 shares of Caterpillar stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $505.29, for a total transaction of $8,673,808.14. Following the sale, the chairman owned 448,173 shares of the company’s stock, valued at approximately $226,457,335.17. This trade represents a 3.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction that occurred 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 sale, the insider directly owned 8,632 shares in the company, valued at $3,605,586.40. The trade was a 20.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 55,985 shares of company stock valued at $25,559,300. 0.33% of the stock is owned by corporate insiders.

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.