Coastal Bridge Advisors LLC Takes $2.10 Million Position in Caterpillar Inc. $CAT

Coastal Bridge Advisors LLC purchased a new stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,974 shares of the industrial products company's stock, valued at approximately $2,102,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CAT. Pacific Point Advisors LLC purchased a new position in shares of Caterpillar in the fourth quarter worth $579,000. Brighton Jones LLC boosted its position in shares of Caterpillar by 51.5% during the fourth quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company's stock valued at $2,688,000 after buying an additional 2,519 shares during the last quarter. United Bank increased its holdings in Caterpillar by 108.5% in the 2nd quarter. United Bank now owns 4,083 shares of the industrial products company's stock worth $1,585,000 after buying an additional 2,125 shares in the last quarter. Schnieders Capital Management LLC. increased its holdings in Caterpillar by 3.9% in the 2nd quarter. Schnieders Capital Management LLC. now owns 9,147 shares of the industrial products company's stock worth $3,551,000 after buying an additional 347 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in Caterpillar by 6.5% in the 2nd quarter. Alliancebernstein L.P. now owns 572,165 shares of the industrial products company's stock worth $222,120,000 after buying an additional 34,846 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Joseph E. Creed sold 32,401 shares of Caterpillar stock in a transaction on Friday, August 28th. The shares were sold at an average price of $808.98, for a total transaction of $26,211,760.98. Following the transaction, the chief executive officer owned 34,555 shares in the company, valued at $27,954,303.90. This trade represents a 48.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CAT shares. Sanford C. Bernstein restated a "market perform" rating and set a $1,002.00 target price on shares of Caterpillar in a research note on Wednesday, August 5th. UBS Group boosted their price objective on shares of Caterpillar from $900.00 to $925.00 and gave the company a "neutral" rating in a report on Wednesday, August 5th. Citigroup increased their price objective on shares of Caterpillar from $1,020.00 to $1,100.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Evercore restated an "outperform" rating and issued a $1,103.00 target price on shares of Caterpillar in a report on Monday, May 11th. Finally, Zacks Research raised shares of Caterpillar from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $995.52.

Caterpillar Trading Down 0.1%

Shares of NYSE:CAT opened at $813.51 on Tuesday. The stock's 50-day simple moving average is $868.12 and its two-hundred day simple moving average is $839.26. The stock has a market capitalization of $373.95 billion, a price-to-earnings ratio of 35.00, a PEG ratio of 1.41 and a beta of 1.60. Caterpillar Inc. has a 52-week low of $416.44 and a 52-week high of $1,073.46. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.85 and a current ratio of 1.37.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The industrial products company reported $8.17 EPS for the quarter, beating the consensus estimate of $6.22 by $1.95. Caterpillar had a net margin of 14.51% and a return on equity of 55.53%. The firm had revenue of $20.54 billion during the quarter, compared to analyst estimates of $19.34 billion. During the same quarter in the prior year, the firm earned $4.72 EPS. The business's revenue for the quarter was up 23.7% compared to the same quarter last year. Analysts expect that Caterpillar Inc. will post 27.34 EPS for the current year.

Caterpillar Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Monday, July 20th were issued a dividend of $1.63 per share. This is an increase from Caterpillar's previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Monday, July 20th. Caterpillar's dividend payout ratio is currently 28.06%.

Caterpillar Company Profile

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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