Willis Investment Counsel Has $37.09 Million Stake in Caterpillar Inc. $CAT

Willis Investment Counsel decreased its stake in Caterpillar Inc. (NYSE:CAT) by 2.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,731 shares of the industrial products company’s stock after selling 1,877 shares during the period. Caterpillar comprises about 2.0% of Willis Investment Counsel’s holdings, making the stock its 12th largest holding. Willis Investment Counsel’s holdings in Caterpillar were worth $37,089,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Kilter Group LLC acquired a new stake in Caterpillar in the second quarter valued at approximately $27,000. Mid American Wealth Advisory Group Inc. purchased a new position in Caterpillar during the second quarter worth about $28,000. Marquette Asset Management LLC grew its stake in Caterpillar by 1,060.0% in the 3rd quarter. Marquette Asset Management LLC now owns 58 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 53 shares during the period. RiverPark Advisors LLC purchased a new stake in Caterpillar in the second quarter worth $32,000. Finally, Joseph Group Capital Management bought a new stake in Caterpillar in the 3rd quarter valued at about $32,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Sanford C. Bernstein reissued a “market perform” rating and issued a $678.00 price target on shares of Caterpillar in a report on Friday, January 30th. HSBC boosted their target price on Caterpillar from $660.00 to $850.00 and gave the company a “buy” rating in a research note on Thursday. Bank of America raised their target price on Caterpillar from $708.00 to $735.00 and gave the company a “buy” rating in a research note on Friday, January 30th. JPMorgan Chase & Co. lifted their price target on Caterpillar from $740.00 to $765.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Finally, Jefferies Financial Group increased their price objective on Caterpillar from $700.00 to $750.00 and gave the company a “buy” rating in a research report on Tuesday, January 27th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $690.90.

Insider Activity

In other Caterpillar news, insider Denise C. Johnson sold 39,138 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $681.08, for a total transaction of $26,656,109.04. Following the transaction, the insider owned 43,350 shares of the company’s stock, valued at approximately $29,524,818. This trade represents a 47.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Lange Bob De sold 16,070 shares of Caterpillar stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $704.97, for a total transaction of $11,328,867.90. Following the transaction, the insider directly owned 79,953 shares in the company, valued at approximately $56,364,466.41. The trade was a 16.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 120,747 shares of company stock worth $78,324,008 in the last three months. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Stock Up 3.5%

NYSE CAT opened at $702.22 on Friday. The stock has a 50 day moving average price of $614.16 and a 200-day moving average price of $526.79. Caterpillar Inc. has a one year low of $267.30 and a one year high of $723.16. The company has a market capitalization of $328.63 billion, a P/E ratio of 37.09, a P/E/G ratio of 1.64 and a beta of 1.58. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.94 and a current ratio of 1.44.

Caterpillar (NYSE:CAT) last released its earnings results on Thursday, January 29th. The industrial products company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.67 by $0.49. Caterpillar had a return on equity of 45.76% and a net margin of 13.14%.The firm had revenue of $19.13 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter in the previous year, the company posted $5.14 EPS. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. As a group, equities analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Tuesday, January 20th will be paid a dividend of $1.51 per share. The ex-dividend date of this dividend is Tuesday, January 20th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 0.9%. Caterpillar’s dividend payout ratio is currently 32.09%.

About Caterpillar

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.