Aull & Monroe Investment Management Corp Trims Position in Caterpillar Inc. $CAT

Key Points

• Aull & Monroe Investment Management Corp reduced its position in Caterpillar Inc. by 13.2%, holding 18,334 shares valued at approximately $7.1 million.
• Caterpillar's quarterly earnings reported $4.72 EPS, missing estimates by $0.16, while revenue rose to $16.57 billion, exceeding expectations.
• The company announced a quarterly dividend of $1.51 per share, with a dividend yield of 1.1% and a payout ratio of 30.72%.

Aull & Monroe Investment Management Corp cut its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 13.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,334 shares of the industrial products company's stock after selling 2,781 shares during the period. Caterpillar comprises 3.8% of Aull & Monroe Investment Management Corp's holdings, making the stock its 2nd largest holding. Aull & Monroe Investment Management Corp's holdings in Caterpillar were worth $7,117,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Family Legacy Financial Solutions LLC bought a new stake in shares of Caterpillar in the 2nd quarter worth about $32,000. Harbor Asset Planning Inc. bought a new stake in shares of Caterpillar in the 2nd quarter worth about $34,000. Compass Financial Services Inc increased its holdings in shares of 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 during the last quarter. Redmont Wealth Advisors LLC bought a new stake in shares of Caterpillar in the 1st quarter worth about $33,000. Finally, Maseco LLP bought a new stake in shares of Caterpillar in the 2nd quarter worth about $45,000. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Trading Down 2.5%

NYSE CAT opened at $527.41 on Friday. 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 firm has a market cap of $247.08 billion, a PE ratio of 26.83, a price-to-earnings-growth ratio of 3.01 and a beta of 1.46. The company has a 50 day moving average price of $453.38 and a 200 day moving average price of $390.93. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $544.99.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing the consensus estimate of $4.88 by ($0.16). The firm had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The company's revenue was down .7% compared to the same quarter last year. During the same quarter last year, the firm earned $5.99 EPS. As a group, sell-side analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Dividend Announcement

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 paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Monday, October 20th. Caterpillar's payout ratio is 30.72%.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of the company's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $410.00, for a total transaction of $952,840.00. Following the transaction, the director owned 6,917 shares in the company, valued at approximately $2,835,970. This represents a 25.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The shares were 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. The trade was a 3.44% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,985 shares of company stock worth $25,559,300. 0.33% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on CAT shares. DA Davidson upped their price target on shares of Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Erste Group Bank upgraded shares of Caterpillar from a "hold" rating to a "buy" rating in a report on Friday, October 3rd. Weiss Ratings reiterated a "buy (b)" rating on shares of Caterpillar in a report on Tuesday, October 14th. Evercore ISI upgraded shares of Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 price target on the stock in a report on Tuesday, August 19th. Finally, Barclays boosted their price objective on shares of Caterpillar from $425.00 to $485.00 and gave the company an "equal weight" rating in a research report on Friday. Two research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $510.60.

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.

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