Hager Investment Management Services LLC Trims Holdings in Caterpillar Inc. $CAT

Hager Investment Management Services LLC reduced its position in shares of Caterpillar Inc. (NYSE:CAT) by 0.6% in the second quarter, Holdings Channel reports. The firm owned 5,608 shares of the industrial products company’s stock after selling 36 shares during the quarter. Caterpillar accounts for 1.3% of Hager Investment Management Services LLC’s holdings, making the stock its 28th biggest holding. Hager Investment Management Services LLC’s holdings in Caterpillar were worth $2,177,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CAT. Pacific Point Advisors LLC bought a new position in shares of Caterpillar in the fourth quarter worth approximately $579,000. Brighton Jones LLC lifted its stake in shares of Caterpillar by 51.5% in the fourth quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock worth $2,688,000 after buying an additional 2,519 shares in the last quarter. Wedge Capital Management L L P NC lifted its stake in shares of Caterpillar by 4.8% in the first quarter. Wedge Capital Management L L P NC now owns 917 shares of the industrial products company’s stock worth $302,000 after buying an additional 42 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Caterpillar by 32.0% in the first quarter. GAMMA Investing LLC now owns 11,311 shares of the industrial products company’s stock worth $3,730,000 after buying an additional 2,745 shares in the last quarter. Finally, Simplicity Wealth LLC lifted its stake in shares of Caterpillar by 111.3% in the first quarter. Simplicity Wealth LLC now owns 4,646 shares of the industrial products company’s stock worth $1,532,000 after buying an additional 2,447 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

CAT has been the topic of a number of recent analyst reports. Evercore ISI raised shares of Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price target on the stock in a report on Tuesday, August 19th. Barclays raised their price target on shares of Caterpillar from $383.00 to $425.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. Melius Research raised shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price target on the stock in a report on Wednesday, July 9th. Citigroup raised their price target on shares of Caterpillar from $540.00 to $570.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Bank of America raised their price target on shares of Caterpillar from $495.00 to $517.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $473.53.

Caterpillar Stock Performance

CAT opened at $502.08 on Thursday. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. The company has a market cap of $235.21 billion, a price-to-earnings ratio of 25.54, a PEG ratio of 2.96 and a beta of 1.46. The company’s 50 day moving average is $440.73 and its 200 day moving average is $381.76. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $509.48.

Caterpillar (NYSE:CAT) last released its earnings results 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). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The firm had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $16.14 billion. During the same quarter in the previous year, the business posted $5.99 EPS. Caterpillar’s revenue was down .7% on a year-over-year basis. On average, equities research analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

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

Insiders Place Their Bets

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the sale, the insider owned 8,632 shares in the company, valued at approximately $3,605,586.40. This trade represents a 20.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Donald J. Umpleby III sold 17,166 shares of Caterpillar stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $462.65, for a total transaction of $7,941,849.90. Following the sale, the chairman owned 465,339 shares in the company, 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. In the last 90 days, insiders have sold 38,819 shares of company stock worth $16,885,492. Company insiders own 0.33% of the company’s stock.

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.