Folger Nolan Fleming Douglas Capital Management Inc. Sells 959 Shares of Caterpillar Inc. $CAT

Folger Nolan Fleming Douglas Capital Management Inc. lowered its position in shares of Caterpillar Inc. (NYSE:CAT) by 3.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,183 shares of the industrial products company’s stock after selling 959 shares during the quarter. Caterpillar comprises 1.3% of Folger Nolan Fleming Douglas Capital Management Inc.’s investment portfolio, making the stock its 21st biggest holding. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Caterpillar were worth $11,329,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. GSB Wealth Management LLC grew its position in shares of Caterpillar by 1.2% during the 2nd quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company’s stock worth $832,000 after buying an additional 26 shares during the period. Verum Partners LLC grew its position in shares of Caterpillar by 2.5% during the 2nd quarter. Verum Partners LLC now owns 1,059 shares of the industrial products company’s stock worth $411,000 after buying an additional 26 shares during the period. Vanguard Capital Wealth Advisors grew its position in shares of Caterpillar by 0.8% during the 2nd quarter. Vanguard Capital Wealth Advisors now owns 3,575 shares of the industrial products company’s stock worth $1,388,000 after buying an additional 27 shares during the period. InTrack Investment Management Inc grew its position in shares of Caterpillar by 0.6% during the 2nd quarter. InTrack Investment Management Inc now owns 4,683 shares of the industrial products company’s stock worth $1,818,000 after buying an additional 27 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Caterpillar by 2.4% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,216 shares of the industrial products company’s stock worth $472,000 after buying an additional 29 shares during the period. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

Shares of CAT stock opened at $491.67 on Friday. The firm has a market capitalization of $230.34 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 3.04 and a beta of 1.46. The firm has a fifty day simple moving average of $443.23 and a two-hundred day simple moving average of $383.88. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $511.50.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (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 return on equity of 48.95% and a net margin of 14.95%.Caterpillar’s revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.99 earnings per share. Analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be issued 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 of this dividend is Monday, October 20th. Caterpillar’s payout ratio is currently 30.72%.

Analysts Set New Price Targets

CAT has been the subject of several recent analyst reports. Melius Research raised shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price objective for the company in a research report on Wednesday, July 9th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Caterpillar in a research report on Saturday, September 27th. Truist Financial raised their price objective on shares of Caterpillar from $507.00 to $582.00 and gave the stock a “buy” rating in a research report on Wednesday. Evercore ISI upgraded shares of Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price target for the company in a research note on Tuesday, August 19th. Finally, Erste Group Bank upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Caterpillar currently has a consensus rating of “Moderate Buy” and a consensus price target of $478.20.

Insiders Place Their Bets

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of Caterpillar stock in a transaction on Friday, August 15th. The shares were sold at an average price of $410.00, for a total transaction of $952,840.00. Following the transaction, the director directly owned 6,917 shares of the company’s stock, valued at $2,835,970. The trade was a 25.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction on Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the transaction, the insider directly owned 8,632 shares in the company, valued at $3,605,586.40. This represents a 20.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,819 shares of company stock valued at $16,885,492 in the last three months. 0.33% of the stock is currently owned by insiders.

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.