NorthRock Partners LLC lowered its stake in Caterpillar Inc. (NYSE:CAT – Free Report) by 3.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 10,041 shares of the industrial products company’s stock after selling 307 shares during the quarter. NorthRock Partners LLC’s holdings in Caterpillar were worth $3,898,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the stock. Valeo Financial Advisors LLC lifted its holdings in Caterpillar by 36,842.1% in the second quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock worth $2,833,836,000 after purchasing an additional 7,279,991 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Caterpillar by 6.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,204,445 shares of the industrial products company’s stock worth $1,386,626,000 after purchasing an additional 264,054 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Caterpillar by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company’s stock worth $1,089,798,000 after purchasing an additional 15,347 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Caterpillar by 9.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company’s stock valued at $1,064,951,000 after acquiring an additional 268,300 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in Caterpillar by 5.0% in the 1st quarter. Invesco Ltd. now owns 3,141,936 shares of the industrial products company’s stock valued at $1,036,211,000 after acquiring an additional 150,533 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.
Insider Buying and Selling
In other Caterpillar news, Chairman Donald J. Umpleby III sold 17,168 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the transaction, the chairman owned 482,505 shares in the company, valued at $199,211,839.35. This trade represents a 3.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 value of $902,649.70. Following the transaction, the insider owned 8,632 shares in the company, valued at approximately $3,605,586.40. This trade represents a 20.02% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,819 shares of company stock worth $16,885,492. Insiders own 0.33% of the company’s stock.
Caterpillar Price Performance
Caterpillar (NYSE:CAT – Get Free Report) last issued its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing analysts’ consensus estimates of $4.88 by ($0.16). The business had revenue of $16.57 billion during the quarter, compared to analyst estimates of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. Caterpillar’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.99 EPS. On average, analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.
Caterpillar Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be issued a $1.51 dividend. The ex-dividend date is Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a yield of 1.2%. Caterpillar’s dividend payout ratio is currently 30.72%.
Analyst Upgrades and Downgrades
CAT has been the subject of a number of research analyst reports. Bank of America upped their price target on shares of Caterpillar from $495.00 to $517.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Citigroup upped their price target on shares of Caterpillar from $540.00 to $570.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Erste Group Bank raised shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Caterpillar in a report on Saturday, September 27th. Finally, Melius raised shares of Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price target for the company in a report on Wednesday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $478.20.
Read Our Latest Report on Caterpillar
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.
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