Sunbeam Capital Management LLC Takes Position in Caterpillar Inc. $CAT

Sunbeam Capital Management LLC purchased a new stake in shares of Caterpillar Inc. (NYSE:CAT) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 1,146 shares of the industrial products company’s stock, valued at approximately $445,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Compass Financial Services Inc increased its holdings in Caterpillar by 49.2% in the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after buying an additional 31 shares in the last quarter. Family Legacy Financial Solutions LLC bought a new stake in Caterpillar in the 2nd quarter worth about $32,000. Redmont Wealth Advisors LLC bought a new stake in Caterpillar in the 1st quarter worth about $33,000. Fiduciary Wealth Partners LLC bought a new stake in Caterpillar in the 1st quarter worth about $45,000. Finally, Maseco LLP bought a new stake in Caterpillar in the 2nd quarter worth about $45,000. 70.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Barclays lifted their price objective on Caterpillar from $383.00 to $425.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. Erste Group Bank upgraded Caterpillar from a “hold” rating to a “buy” rating in a report on Friday. Citigroup reissued a “buy” rating on shares of Caterpillar in a research report on Tuesday, September 23rd. Bank of America raised their target price on Caterpillar from $495.00 to $517.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Finally, Oppenheimer raised their target price on Caterpillar from $480.00 to $513.00 and gave the stock an “outperform” rating in a research report on Monday, September 29th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $466.53.

Insider Activity at Caterpillar

In related news, Chairman Donald J. Umpleby III sold 17,166 shares of Caterpillar stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $462.65, for a total transaction of $7,941,849.90. Following the sale, the chairman owned 465,339 shares of the company’s stock, valued at approximately $215,289,088.35. This trade represents a 3.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jason Kaiser sold 2,161 shares of Caterpillar 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 sale, the insider directly owned 8,632 shares in the company, valued at $3,605,586.40. This trade represents a 20.02% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,819 shares of company stock valued at $16,885,492. 0.33% of the stock is owned by company insiders.

Caterpillar Stock Down 0.4%

CAT stock opened at $495.80 on Tuesday. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $505.59. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. The stock has a market cap of $232.27 billion, a P/E ratio of 25.22, a PEG ratio of 3.03 and a beta of 1.46. The business’s 50-day moving average price is $438.25 and its 200-day moving average price is $380.18.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data 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). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The company had revenue of $16.57 billion for the quarter, compared to analysts’ expectations of $16.14 billion. During the same period in the previous year, the firm earned $5.99 earnings per share. The firm’s quarterly revenue was down .7% on a year-over-year basis. On average, equities research analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s payout ratio is presently 30.72%.

Caterpillar Profile

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.