Baxter Bros Inc. Has $260,000 Position in Caterpillar Inc. $CAT

Baxter Bros Inc. lowered its position in Caterpillar Inc. (NYSE:CAT) by 10.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 671 shares of the industrial products company’s stock after selling 75 shares during the quarter. Baxter Bros Inc.’s holdings in Caterpillar were worth $260,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. GSB Wealth Management LLC boosted its position in shares of Caterpillar by 1.2% during the second quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company’s stock valued at $832,000 after purchasing an additional 26 shares in the last quarter. Verum Partners LLC boosted its position in shares of Caterpillar by 2.5% during the second quarter. Verum Partners LLC now owns 1,059 shares of the industrial products company’s stock valued at $411,000 after purchasing an additional 26 shares in the last quarter. Vanguard Capital Wealth Advisors boosted its position in shares of Caterpillar by 0.8% during the second quarter. Vanguard Capital Wealth Advisors now owns 3,575 shares of the industrial products company’s stock valued at $1,388,000 after purchasing an additional 27 shares in the last quarter. InTrack Investment Management Inc boosted its position in shares of Caterpillar by 0.6% during the second quarter. InTrack Investment Management Inc now owns 4,683 shares of the industrial products company’s stock valued at $1,818,000 after purchasing an additional 27 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Caterpillar by 2.4% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,216 shares of the industrial products company’s stock valued at $472,000 after purchasing an additional 29 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Stock Up 3.2%

Caterpillar stock opened at $502.08 on Thursday. The stock has a market cap of $235.21 billion, a PE ratio of 25.54, a price-to-earnings-growth ratio of 2.96 and a beta of 1.46. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. Caterpillar Inc. has a one year low of $267.30 and a one year high of $509.48. The stock has a fifty day moving average of $440.73 and a 200 day moving average of $381.76.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data 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). The firm had revenue of $16.57 billion for the quarter, compared to analysts’ expectations of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The firm’s revenue was down .7% compared to the same quarter last year. During the same quarter last year, the company posted $5.99 EPS. As a group, sell-side analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Monday, October 20th. Caterpillar’s dividend payout ratio is 30.72%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Oppenheimer boosted their target price on Caterpillar from $480.00 to $513.00 and gave the stock an “outperform” rating in a report on Monday, September 29th. Citigroup boosted their target price on Caterpillar from $540.00 to $570.00 and gave the stock a “buy” rating in a report on Tuesday. Robert W. Baird boosted their target price on Caterpillar from $495.00 to $540.00 and gave the stock an “outperform” rating in a report on Wednesday, September 17th. Melius Research raised Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 target price on the stock in a report on Wednesday, July 9th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Caterpillar in a report on Saturday, September 27th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $473.53.

Insider Activity at Caterpillar

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of the company’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the completion of the sale, the director owned 6,917 shares in the company, valued at $2,835,970. This represents a 25.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,166 shares of the company’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $462.65, for a total value of $7,941,849.90. Following the completion of the sale, the chairman owned 465,339 shares of the company’s stock, valued at approximately $215,289,088.35. The trade was a 3.56% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,819 shares of company stock worth $16,885,492. 0.33% of the stock is owned by insiders.

Caterpillar 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.