Bristlecone Advisors LLC Lowers Stock Position in Caterpillar Inc. (NYSE:CAT)

Bristlecone Advisors LLC lessened its stake in shares of Caterpillar Inc. (NYSE:CAT) by 51.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,256 shares of the industrial products company’s stock after selling 2,349 shares during the quarter. Bristlecone Advisors LLC’s holdings in Caterpillar were worth $285,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Park National Corp OH increased its holdings in Caterpillar by 2.1% in the 2nd quarter. Park National Corp OH now owns 9,257 shares of the industrial products company’s stock valued at $1,261,000 after acquiring an additional 186 shares during the last quarter. Private Asset Management Inc. increased its holdings in Caterpillar by 10.0% in the 2nd quarter. Private Asset Management Inc. now owns 10,156 shares of the industrial products company’s stock valued at $1,384,000 after acquiring an additional 926 shares during the last quarter. Fulton Bank N.A. increased its holdings in Caterpillar by 7.3% in the 2nd quarter. Fulton Bank N.A. now owns 4,122 shares of the industrial products company’s stock valued at $562,000 after acquiring an additional 279 shares during the last quarter. Anderson Hoagland & Co. increased its holdings in Caterpillar by 1.7% in the 2nd quarter. Anderson Hoagland & Co. now owns 25,232 shares of the industrial products company’s stock valued at $3,023,000 after acquiring an additional 420 shares during the last quarter. Finally, Rockland Trust Co. increased its holdings in Caterpillar by 12.0% in the 2nd quarter. Rockland Trust Co. now owns 3,165 shares of the industrial products company’s stock valued at $431,000 after acquiring an additional 340 shares during the last quarter. 64.84% of the stock is owned by institutional investors.

In other news, General Counsel Suzette M. Long sold 5,019 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $126.34, for a total value of $634,100.46. Following the sale, the general counsel now directly owns 12,569 shares in the company, valued at approximately $1,587,967.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.37% of the company’s stock.

Caterpillar stock opened at $140.06 on Tuesday. The company’s 50-day moving average price is $128.73 and its 200-day moving average price is $128.93. Caterpillar Inc. has a twelve month low of $111.75 and a twelve month high of $144.77. The company has a quick ratio of 0.99, a current ratio of 1.44 and a debt-to-equity ratio of 1.71. The company has a market cap of $78.61 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 1.47 and a beta of 1.52.

Caterpillar (NYSE:CAT) last posted its earnings results on Wednesday, October 23rd. The industrial products company reported $2.66 earnings per share for the quarter, missing analysts’ consensus estimates of $2.82 by ($0.16). Caterpillar had a return on equity of 42.51% and a net margin of 10.99%. The business had revenue of $12.76 billion during the quarter, compared to the consensus estimate of $13.49 billion. During the same quarter last year, the firm earned $2.86 earnings per share. The business’s quarterly revenue was down 5.6% on a year-over-year basis. As a group, sell-side analysts expect that Caterpillar Inc. will post 10.89 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be issued a $1.03 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.94%. Caterpillar’s dividend payout ratio (DPR) is presently 36.72%.

A number of analysts have issued reports on CAT shares. Robert W. Baird lifted their price target on shares of Caterpillar from $141.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Buckingham Research downgraded shares of Caterpillar from a “buy” rating to a “neutral” rating and reduced their price target for the company from $162.00 to $140.00 in a report on Thursday, July 25th. Morgan Stanley reduced their price target on shares of Caterpillar from $145.00 to $132.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Citigroup reduced their price target on shares of Caterpillar from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Finally, Deutsche Bank lifted their price target on shares of Caterpillar from $113.00 to $123.00 and gave the company a “hold” rating in a report on Thursday, October 24th. Five analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. Caterpillar has an average rating of “Hold” and a consensus price target of $136.88.

Caterpillar Company Profile

Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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