MV Capital Management Inc. Sells 233 Shares of Caterpillar Inc. $CAT

MV Capital Management Inc. lessened its position in shares of Caterpillar Inc. (NYSE:CAT) by 2.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,470 shares of the industrial products company’s stock after selling 233 shares during the period. MV Capital Management Inc.’s holdings in Caterpillar were worth $4,453,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Mid American Wealth Advisory Group Inc. acquired a new stake in Caterpillar in the 2nd quarter valued at approximately $28,000. Compass Financial Services Inc grew its stake 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 worth $31,000 after acquiring an additional 31 shares in the last quarter. Family Legacy Financial Solutions LLC bought a new stake in shares of Caterpillar in the second quarter worth $32,000. Harbor Asset Planning Inc. acquired a new position in Caterpillar during the second quarter worth $34,000. Finally, Total Wealth Planning & Management Inc. bought a new position in Caterpillar in the second quarter valued at $38,000. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Stock Performance

Shares of NYSE CAT opened at $573.22 on Thursday. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $268.25 billion, a P/E ratio of 29.43, a P/E/G ratio of 3.33 and a beta of 1.51. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $596.21. The stock has a 50 day moving average of $501.01 and a 200-day moving average of $424.34.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share (EPS) for the quarter, beating 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 business had revenue of $17.64 billion during the quarter, compared to the consensus estimate of $16.72 billion. During the same quarter last year, the firm posted $5.17 EPS. The company’s quarterly revenue was up 9.5% on a year-over-year basis. As a group, equities research analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be issued a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s dividend payout ratio is currently 31.01%.

Insider Activity

In related news, insider Lange Bob De sold 14,638 shares of the business’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $562.36, for a total value of $8,231,825.68. Following the completion of the sale, the insider directly owned 80,209 shares in the company, valued at $45,106,333.24. The trade was a 15.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Donald J. Umpleby III sold 17,166 shares of the company’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 transaction, the chairman directly 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 77,846 shares of company stock valued at $38,241,493. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on CAT shares. Citigroup boosted their price target on shares of Caterpillar from $570.00 to $670.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Erste Group Bank upgraded Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Barclays raised their price target on Caterpillar from $485.00 to $555.00 and gave the company an “equal weight” rating in a research note on Thursday, October 30th. JPMorgan Chase & Co. upped their price objective on Caterpillar from $650.00 to $730.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Finally, Jefferies Financial Group increased their price objective on Caterpillar from $570.00 to $700.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $596.59.

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.