Caterpillar Inc. $CAT Shares Acquired by Carnegie Investment Counsel

Key Points

• Carnegie Investment Counsel increased its stake in Caterpillar Inc. by 38.4% during the second quarter, holding 3,365 shares worth approximately $1.3 million.
• Insider trading activity includes Caterpillar's Chairman selling 17,168 shares for over $7 million, marking a 3.44% decrease in his ownership.
• Caterpillar's quarterly dividend of $1.51 per share will be paid on November 20th, reflecting an annualized dividend yield of 1.2%.

Carnegie Investment Counsel grew its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 38.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,365 shares of the industrial products company's stock after buying an additional 934 shares during the quarter. Carnegie Investment Counsel's holdings in Caterpillar were worth $1,306,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. CAP Partners LLC lifted its holdings in shares of Caterpillar by 3.5% in the 2nd quarter. CAP Partners LLC now owns 839 shares of the industrial products company's stock valued at $326,000 after buying an additional 28 shares during the period. FSM Wealth Advisors LLC lifted its holdings in shares of Caterpillar by 35.0% in the 2nd quarter. FSM Wealth Advisors LLC now owns 1,169 shares of the industrial products company's stock valued at $458,000 after buying an additional 303 shares during the period. Planning Center Inc. lifted its holdings in shares of Caterpillar by 3.3% in the 2nd quarter. Planning Center Inc. now owns 1,367 shares of the industrial products company's stock valued at $531,000 after buying an additional 44 shares during the period. Cadinha & Co. LLC purchased a new position in shares of Caterpillar in the 2nd quarter valued at about $21,357,000. Finally, KPP Advisory Services LLC increased its stake in shares of Caterpillar by 3.4% in the 2nd quarter. KPP Advisory Services LLC now owns 2,258 shares of the industrial products company's stock valued at $877,000 after purchasing an additional 74 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Insider Transactions at Caterpillar

In other news, Chairman Donald J. Umpleby III sold 17,168 shares of the business's 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 directly owned 482,505 shares in the company, valued at $199,211,839.35. The trade was a 3.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jason Kaiser sold 2,161 shares of the company's 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 completion of the transaction, the insider owned 8,632 shares in the company, valued at $3,605,586.40. This represents a 20.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,985 shares of company stock worth $25,559,300 in the last ninety days. Insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CAT shares. Royal Bank Of Canada started coverage on Caterpillar in a research note on Wednesday. They issued a "sector perform" rating and a $560.00 price target for the company. Weiss Ratings restated a "buy (b)" rating on shares of Caterpillar in a research note on Tuesday, October 14th. Oppenheimer lifted their price target on Caterpillar from $480.00 to $513.00 and gave the company an "outperform" rating in a research note on Monday, September 29th. Barclays lifted their price target on Caterpillar from $425.00 to $485.00 and gave the company an "equal weight" rating in a research note on Friday, October 17th. Finally, Evercore ISI upgraded Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 price objective on the stock in a report on Tuesday, August 19th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $518.19.

Caterpillar Trading Up 0.3%

CAT stock opened at $522.13 on Friday. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $544.99. The stock has a market cap of $244.61 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 2.98 and a beta of 1.46. The business's 50-day moving average is $464.46 and its 200 day moving average is $399.24.

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 the consensus estimate of $4.88 by ($0.16). The company had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The company's revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.99 earnings per share. On average, sell-side analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Monday, October 20th. Caterpillar's payout ratio is currently 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.

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