Caterpillar Inc. $CAT Stock Position Lifted by Bay Colony Advisory Group Inc d b a Bay Colony Advisors

Key Points

• Bay Colony Advisors increased its Caterpillar stake by 62.8% in the second quarter, bringing its holdings to 4,029 shares valued at approximately $4.29 million. Institutional investors collectively own 70.98% of CAT.
• Caterpillar reported a strong quarter, with earnings of $8.17 per share versus the $6.22 consensus estimate and revenue of $20.54 billion, up 23.7% year over year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $995.52, while Caterpillar raised its quarterly dividend to $1.63 per share, or $6.52 annually.

Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 62.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,029 shares of the industrial products company's stock after purchasing an additional 1,554 shares during the quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors' holdings in Caterpillar were worth $4,290,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Community Financial Services Group LLC grew its position in Caterpillar by 205.6% in the 2nd quarter. Community Financial Services Group LLC now owns 1,146 shares of the industrial products company's stock valued at $1,136,000 after buying an additional 771 shares in the last quarter. Constitution Capital LLC raised its position in shares of Caterpillar by 1.3% during the 2nd quarter. Constitution Capital LLC now owns 2,360 shares of the industrial products company's stock worth $2,513,000 after buying an additional 30 shares in the last quarter. Fulton Bank N.A. lifted its stake in shares of Caterpillar by 12.4% in the 2nd quarter. Fulton Bank N.A. now owns 4,676 shares of the industrial products company's stock worth $4,979,000 after acquiring an additional 515 shares during the period. AdviceOne Advisory Services LLC bought a new position in shares of Caterpillar in the second quarter valued at approximately $276,000. Finally, First Bank & Trust increased its stake in shares of Caterpillar by 35.6% during the second quarter. First Bank & Trust now owns 849 shares of the industrial products company's stock valued at $904,000 after acquiring an additional 223 shares during the period. Institutional investors and hedge funds own 70.98% of the company's stock.

Analysts Set New Price Targets

CAT has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on Caterpillar from $1,125.00 to $1,165.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 17th. HSBC lifted their price target on Caterpillar from $850.00 to $1,100.00 in a research report on Tuesday, May 5th. DA Davidson upped their price objective on Caterpillar from $845.00 to $882.00 and gave the company a "neutral" rating in a report on Thursday. Robert W. Baird set a $970.00 target price on Caterpillar in a research note on Wednesday, August 5th. Finally, Erste Group Bank lowered Caterpillar from a "buy" rating to a "hold" rating in a report on Monday, July 27th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $995.52.

Caterpillar Stock Down 0.7%

Shares of Caterpillar stock opened at $836.29 on Tuesday. Caterpillar Inc. has a 12-month low of $405.46 and a 12-month high of $1,073.46. The firm has a market capitalization of $384.42 billion, a PE ratio of 35.98, a price-to-earnings-growth ratio of 1.52 and a beta of 1.60. The company has a quick ratio of 0.85, a current ratio of 1.37 and a debt-to-equity ratio of 1.65. The stock's fifty day moving average is $920.45 and its 200-day moving average is $821.82.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The industrial products company reported $8.17 earnings per share for the quarter, beating analysts' consensus estimates of $6.22 by $1.95. The business had revenue of $20.54 billion during the quarter, compared to analyst estimates of $19.34 billion. Caterpillar had a return on equity of 55.53% and a net margin of 14.51%.Caterpillar's revenue for the quarter was up 23.7% on a year-over-year basis. During the same quarter last year, the company posted $4.72 EPS. Equities analysts anticipate that Caterpillar Inc. will post 26.3 earnings per share for the current year.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Monday, July 20th will be issued a $1.63 dividend. The ex-dividend date is Monday, July 20th. This is a positive change from Caterpillar's previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a dividend yield of 0.8%. Caterpillar's dividend payout ratio is 28.06%.

Insider Activity at Caterpillar

In other news, CAO William E. Schaupp sold 360 shares of Caterpillar stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $906.00, for a total value of $326,160.00. Following the transaction, the chief accounting officer directly owned 530 shares of the company's stock, valued at $480,180. This trade represents a 40.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Denise C. Johnson sold 12,605 shares of the company's stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $907.91, for a total transaction of $11,444,205.55. Following the completion of the sale, the insider owned 49,825 shares of the company's stock, valued at approximately $45,236,615.75. This trade represents a 20.19% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 19,161 shares of company stock worth $17,407,424. 0.33% of the stock is currently owned by insiders.

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.

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