Caterpillar Inc. $CAT Shares Sold by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC cut its position in Caterpillar Inc. (NYSE:CAT) by 2.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,249 shares of the industrial products company’s stock after selling 109 shares during the period. Flagship Harbor Advisors LLC’s holdings in Caterpillar were worth $1,649,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Trivium Point Advisory LLC boosted its position in shares of Caterpillar by 132.9% during the 2nd quarter. Trivium Point Advisory LLC now owns 1,926 shares of the industrial products company’s stock worth $748,000 after acquiring an additional 1,099 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Caterpillar by 9.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company’s stock valued at $26,037,000 after acquiring an additional 7,125 shares during the last quarter. Palmer Knight Co purchased a new stake in Caterpillar during the 2nd quarter valued at approximately $5,884,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in Caterpillar by 11.2% during the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,315 shares of the industrial products company’s stock valued at $5,557,000 after acquiring an additional 1,440 shares during the last quarter. Finally, Ransom Advisory Ltd purchased a new stake in Caterpillar during the 1st quarter valued at approximately $427,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insiders Place Their Bets

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the 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 owned 8,632 shares of the company’s stock, valued at $3,605,586.40. This represents a 20.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total value of $7,088,152.16. Following the transaction, the chairman directly owned 482,505 shares in the company, valued at approximately $199,211,839.35. This represents a 3.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 55,985 shares of company stock valued at $25,559,300 in the last quarter. 0.33% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Barclays increased their target price on Caterpillar from $425.00 to $485.00 and gave the stock an “equal weight” rating in a research note on Friday, October 17th. Sanford C. Bernstein increased their target price on Caterpillar from $447.00 to $502.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 14th. JPMorgan Chase & Co. increased their target price on Caterpillar from $505.00 to $650.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. Robert W. Baird increased their target price on Caterpillar from $540.00 to $612.00 in a research note on Monday, October 20th. Finally, Evercore ISI raised Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 target price for the company in a research note on Tuesday, August 19th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Caterpillar presently has a consensus rating of “Moderate Buy” and a consensus target price of $518.19.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $586.77 on Thursday. The business’s fifty day moving average price is $472.25 and its two-hundred day moving average price is $405.20. The stock has a market cap of $274.89 billion, a PE ratio of 29.85, a price-to-earnings-growth ratio of 2.99 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 $596.21.

Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, October 29th. The industrial products company reported $4.95 EPS for the quarter, beating analysts’ consensus estimates of $4.52 by $0.43. The firm had revenue of $17.64 billion for the quarter, compared to analysts’ expectations of $16.72 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.Caterpillar’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.17 EPS. On average, analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

The business also recently announced 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 1.0%. The ex-dividend date is Monday, October 20th. Caterpillar’s dividend payout ratio is 30.72%.

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.