Caterpillar Inc. $CAT Shares Sold by BDF Gestion

BDF Gestion lowered its stake in Caterpillar Inc. (NYSE:CAT) by 11.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 6,438 shares of the industrial products company’s stock after selling 817 shares during the quarter. Caterpillar makes up 0.7% of BDF Gestion’s portfolio, making the stock its 29th biggest holding. BDF Gestion’s holdings in Caterpillar were worth $5,220,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Stonebridge Financial Group LLC raised its stake in shares of Caterpillar by 0.7% during the 2nd quarter. Stonebridge Financial Group LLC now owns 1,635 shares of the industrial products company’s stock worth $1,741,000 after purchasing an additional 11 shares in the last quarter. Inspirion Wealth Advisors LLC boosted its holdings in shares of Caterpillar by 1.2% in the 2nd quarter. Inspirion Wealth Advisors LLC now owns 944 shares of the industrial products company’s stock valued at $936,000 after buying an additional 11 shares during the last quarter. Bell Bank grew its stake in shares of Caterpillar by 0.6% in the second quarter. Bell Bank now owns 1,865 shares of the industrial products company’s stock valued at $1,986,000 after buying an additional 11 shares in the last quarter. Cornerstone Advisory LLC grew its stake in shares of Caterpillar by 0.7% in the first quarter. Cornerstone Advisory LLC now owns 1,818 shares of the industrial products company’s stock valued at $1,288,000 after buying an additional 12 shares in the last quarter. Finally, Sunbeam Capital Management LLC increased its holdings in Caterpillar by 1.1% during the first quarter. Sunbeam Capital Management LLC now owns 1,164 shares of the industrial products company’s stock worth $825,000 after buying an additional 13 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Trading Down 0.6%

CAT traded down $4.12 during trading hours on Monday, reaching $726.64. The company’s stock had a trading volume of 1,114,829 shares, compared to its average volume of 2,817,429. The business’s 50-day moving average is $812.24 and its 200-day moving average is $856.69. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.37 and a quick ratio of 0.85. The stock has a market cap of $334.02 billion, a PE ratio of 31.28, a P/E/G ratio of 1.26 and a beta of 1.58. Caterpillar Inc. has a fifty-two week low of $510.21 and a fifty-two week high of $1,073.46.

Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, August 4th. The industrial products company reported $8.17 EPS for the quarter, beating analysts’ consensus estimates of $6.22 by $1.95. Caterpillar had a net margin of 14.51% and a return on equity of 55.53%. The company had revenue of $20.54 billion for the quarter, compared to analysts’ expectations of $19.34 billion. During the same quarter in the prior year, the company posted $4.72 earnings per share. Caterpillar’s revenue for the quarter was up 23.7% compared to the same quarter last year. As a group, equities research analysts predict that Caterpillar Inc. will post 27.49 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Monday, October 26th will be paid a $1.63 dividend. The ex-dividend date is Monday, October 26th. This represents a $6.52 dividend on an annualized basis and a yield of 0.9%. Caterpillar’s payout ratio is currently 28.06%.

Insider Activity at Caterpillar

In other Caterpillar news, CEO Joseph E. Creed sold 32,401 shares of the firm’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $808.98, for a total value of $26,211,760.98. Following the sale, the chief executive officer directly owned 34,555 shares in the company, valued at $27,954,303.90. This trade represents a 48.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on CAT shares. Freedom Broker raised shares of Caterpillar from a “hold” rating to a “buy” rating and set a $980.00 price target on the stock in a research report on Thursday, September 10th. Citigroup decreased their price objective on shares of Caterpillar from $1,100.00 to $950.00 and set a “buy” rating for the company in a research report on Monday, October 12th. Weiss Ratings upgraded shares of Caterpillar from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday. UBS Group upped their target price on shares of Caterpillar from $900.00 to $925.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Finally, President Capital initiated coverage on shares of Caterpillar in a research note on Friday, September 18th. They issued a “buy” rating and a $999.00 target price for the company. Fifteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $967.83.

Caterpillar Profile

Caterpillar Inc is a manufacturer of construction, mining, and industrial equipment. Its product portfolio includes excavators, bulldozers, wheel loaders, motor graders, articulated trucks, and other machinery used in construction, infrastructure development, mining, quarrying, forestry, and related industries. The company also produces diesel and natural gas engines, industrial gas turbines, generator sets, and other power-generation and transportation equipment.

Caterpillar operates through businesses focused on construction industries, resource industries, and energy and transportation.