Ferguson Wellman Capital Management Inc. lowered its stake in Caterpillar, Inc. (NYSE:CAT) by 2.2% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 38,073 shares of the industrial products company’s stock after selling 855 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Caterpillar were worth $4,092,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Caterpillar by 3.6% in the first quarter. Vanguard Group Inc. now owns 38,847,552 shares of the industrial products company’s stock worth $3,603,500,000 after buying an additional 1,342,984 shares in the last quarter. FMR LLC boosted its stake in shares of Caterpillar by 11.4% in the first quarter. FMR LLC now owns 17,561,361 shares of the industrial products company’s stock worth $1,628,992,000 after buying an additional 1,798,312 shares in the last quarter. Morgan Stanley boosted its stake in shares of Caterpillar by 15.1% in the first quarter. Morgan Stanley now owns 10,398,677 shares of the industrial products company’s stock worth $964,579,000 after buying an additional 1,365,856 shares in the last quarter. Primecap Management Co. CA boosted its stake in shares of Caterpillar by 16.9% in the first quarter. Primecap Management Co. CA now owns 7,259,063 shares of the industrial products company’s stock worth $673,351,000 after buying an additional 1,047,922 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Caterpillar by 8.1% in the first quarter. Geode Capital Management LLC now owns 5,575,420 shares of the industrial products company’s stock worth $516,423,000 after buying an additional 419,191 shares in the last quarter. Institutional investors and hedge funds own 69.22% of the company’s stock.

Caterpillar, Inc. (NYSE CAT) opened at 118.28 on Friday. Caterpillar, Inc. has a 12-month low of $79.93 and a 12-month high of $118.83. The firm has a 50-day moving average of $113.22 and a 200 day moving average of $103.29. The company has a market capitalization of $69.90 billion, a price-to-earnings ratio of 660.78 and a beta of 1.24.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.23. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. The firm had revenue of $11.33 billion for the quarter, compared to analysts’ expectations of $10.96 billion. During the same period in the prior year, the business posted $1.09 earnings per share. The company’s revenue was up 9.6% on a year-over-year basis. Analysts expect that Caterpillar, Inc. will post $5.24 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Saturday, August 19th. Stockholders of record on Thursday, July 20th were given a dividend of $0.78 per share. The ex-dividend date was Tuesday, July 18th. This is a boost from Caterpillar’s previous quarterly dividend of $0.77. This represents a $3.12 annualized dividend and a dividend yield of 2.64%. Caterpillar’s dividend payout ratio is currently 2,080.00%.

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A number of analysts have commented on the stock. ValuEngine upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday. Vetr cut shares of Caterpillar from a “buy” rating to a “hold” rating and set a $120.03 price target for the company. in a research note on Tuesday, August 22nd. Royal Bank Of Canada reiterated a “hold” rating on shares of Caterpillar in a research note on Tuesday. Jefferies Group LLC reiterated a “hold” rating and issued a $100.00 price target on shares of Caterpillar in a research note on Tuesday. Finally, BidaskClub upgraded shares of Caterpillar from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $106.20.

In other news, insider Bradley M. Halverson sold 182,612 shares of the company’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $114.05, for a total transaction of $20,826,898.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William A. Osborn sold 5,000 shares of the company’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $113.67, for a total value of $568,350.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 201,471 shares of company stock worth $22,979,332. Company insiders own 0.15% of the company’s stock.

About Caterpillar

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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