Crestwood Advisors Group LLC Cuts Stock Holdings in Caterpillar Inc. $CAT

Crestwood Advisors Group LLC decreased its position in Caterpillar Inc. (NYSE:CAT) by 0.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,567 shares of the industrial products company’s stock after selling 122 shares during the period. Crestwood Advisors Group LLC’s holdings in Caterpillar were worth $8,761,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CAT. Aire Advisors LLC increased its stake in shares of Caterpillar by 0.3% in the 2nd quarter. Aire Advisors LLC now owns 9,042 shares of the industrial products company’s stock valued at $3,510,000 after purchasing an additional 25 shares in the last quarter. Dumont & Blake Investment Advisors LLC increased its position in shares of Caterpillar by 0.5% in the second quarter. Dumont & Blake Investment Advisors LLC now owns 4,954 shares of the industrial products company’s stock valued at $1,923,000 after buying an additional 25 shares in the last quarter. Redwood Wealth Management Group LLC increased its position in shares of Caterpillar by 0.9% in the second quarter. Redwood Wealth Management Group LLC now owns 2,669 shares of the industrial products company’s stock valued at $1,036,000 after buying an additional 25 shares in the last quarter. Tsfg LLC increased its position in shares of Caterpillar by 9.8% in the second quarter. Tsfg LLC now owns 279 shares of the industrial products company’s stock valued at $108,000 after buying an additional 25 shares in the last quarter. Finally, GSB Wealth Management LLC increased its holdings in Caterpillar by 1.2% in the 2nd quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company’s stock worth $832,000 after acquiring an additional 26 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Activity

In related news, Director Susan C. Schwab sold 2,324 shares of the company’s stock in a transaction dated Friday, August 15th. The shares were 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 of the company’s stock, valued at approximately $2,835,970. This represents a 25.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jason Kaiser sold 2,161 shares of the 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 completion of the sale, the insider directly owned 8,632 shares of the company’s stock, valued at approximately $3,605,586.40. This trade represents a 20.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 55,985 shares of company stock valued at $25,559,300. 0.33% of the stock is currently owned by insiders.

Caterpillar Stock Down 4.1%

Shares of NYSE CAT opened at $547.38 on Wednesday. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $596.21. The stock has a market cap of $256.44 billion, a PE ratio of 28.10, a P/E/G ratio of 3.33 and a beta of 1.51. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 1.34. The company has a 50-day moving average of $483.50 and a 200 day moving average of $413.75.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.52 by $0.43. The business had revenue of $17.64 billion during the quarter, compared to analyst estimates of $16.72 billion. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The business’s revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the business earned $5.17 earnings per share. As a group, sell-side analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Dividend Announcement

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 $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, October 20th. Caterpillar’s dividend payout ratio is presently 31.01%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CAT shares. Citigroup boosted their price target on shares of Caterpillar from $570.00 to $670.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Jefferies Financial Group boosted their target price on shares of Caterpillar from $500.00 to $570.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Oppenheimer boosted their price objective on Caterpillar from $513.00 to $645.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Sanford C. Bernstein boosted their price objective on Caterpillar from $502.00 to $557.00 and gave the stock a “market perform” rating in a research note on Thursday, October 30th. Finally, Evercore ISI upgraded Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price objective for the company in a research note on Tuesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $584.50.

About Caterpillar

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.