SignalPoint Asset Management LLC Reduces Holdings in Caterpillar Inc. (NYSE:CAT)

SignalPoint Asset Management LLC lessened its position in shares of Caterpillar Inc. (NYSE:CATGet Rating) by 2.5% during the first quarter, Holdings Channel reports. The institutional investor owned 3,620 shares of the industrial products company’s stock after selling 92 shares during the quarter. SignalPoint Asset Management LLC’s holdings in Caterpillar were worth $807,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Crewe Advisors LLC lifted its position in shares of Caterpillar by 322.6% during the 4th quarter. Crewe Advisors LLC now owns 131 shares of the industrial products company’s stock valued at $27,000 after buying an additional 100 shares during the last quarter. Nauset Wealth Management. LLC purchased a new position in shares of Caterpillar during the 1st quarter valued at $29,000. Arcadia Investment Management Corp MI purchased a new stake in Caterpillar during the 1st quarter worth about $33,000. Sierra Capital LLC purchased a new stake in Caterpillar during the 4th quarter worth about $38,000. Finally, IMA Wealth Inc. purchased a new stake in Caterpillar during the 4th quarter worth about $41,000. Hedge funds and other institutional investors own 67.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CAT. Sanford C. Bernstein cut Caterpillar from an “outperform” rating to a “market perform” rating and set a $195.00 price objective on the stock. in a report on Wednesday. Wells Fargo & Company dropped their price objective on Caterpillar from $230.00 to $205.00 and set an “equal weight” rating on the stock in a report on Wednesday. Tigress Financial raised their price target on Caterpillar from $278.00 to $282.00 and gave the company a “buy” rating in a report on Friday, May 20th. Deutsche Bank Aktiengesellschaft lowered their price target on Caterpillar from $240.00 to $227.00 and set a “buy” rating on the stock in a report on Wednesday, July 13th. Finally, Credit Suisse Group raised their price target on Caterpillar from $226.00 to $236.00 and gave the company an “outperform” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Caterpillar currently has a consensus rating of “Moderate Buy” and an average price target of $225.27.

Caterpillar Trading Up 1.0 %

CAT traded up $1.75 on Friday, hitting $185.39. 1,908,521 shares of the company were exchanged, compared to its average volume of 2,879,295. The firm has a fifty day simple moving average of $191.68 and a two-hundred day simple moving average of $203.92. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.93 and a current ratio of 1.45. Caterpillar Inc. has a 12 month low of $167.08 and a 12 month high of $237.90. The stock has a market capitalization of $97.87 billion, a PE ratio of 14.83, a price-to-earnings-growth ratio of 1.21 and a beta of 1.01.

Caterpillar (NYSE:CATGet Rating) last posted its quarterly earnings results on Tuesday, August 2nd. The industrial products company reported $3.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.01 by $0.17. Caterpillar had a return on equity of 37.29% and a net margin of 12.50%. The business had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.39 billion. During the same period last year, the company earned $2.60 EPS. Caterpillar’s revenue for the quarter was up 10.5% compared to the same quarter last year. Sell-side analysts expect that Caterpillar Inc. will post 12.7 earnings per share for the current year.

Caterpillar Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 19th. Stockholders of record on Wednesday, July 20th will be given a $1.20 dividend. This is a positive change from Caterpillar’s previous quarterly dividend of $1.11. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date is Tuesday, July 19th. Caterpillar’s dividend payout ratio (DPR) is currently 38.40%.

Insider Transactions at Caterpillar

In other news, insider Joseph E. Creed sold 2,757 shares of Caterpillar stock in a transaction that occurred on Wednesday, May 18th. The stock was sold at an average price of $214.13, for a total value of $590,356.41. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.27% of the company’s stock.

About Caterpillar

(Get Rating)

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines worldwide. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact track and multi-terrain loaders, excavators, motorgraders, pipelayers, road reclaimers, site prep tractors, skid steer loaders, telehandlers, and utility vehicles; mini, small, medium, and large excavators; compact, small, and medium wheel loaders; track-type tractors and loaders; and wheel excavators.

Further Reading

Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar Inc. (NYSE:CATGet Rating).

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

Receive News & Ratings for Caterpillar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar and related companies with MarketBeat.com's FREE daily email newsletter.