Curbstone Financial Management Corp Cuts Position in Caterpillar Inc. $CAT

Key Points

• Curbstone Financial Management Corp reduced its position in Caterpillar Inc. by 27.2%, now holding 1,312 shares valued at approximately $509,000.
• Caterpillar recently received upgrades from multiple analysts, with Oppenheimer raising the target price to $513.00, and a consensus rating of "Moderate Buy."
• The company announced a quarterly dividend of $1.51 per share, with the payment scheduled for November 20th, indicating a dividend yield of 1.1%.

Curbstone Financial Management Corp lessened its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 27.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,312 shares of the industrial products company's stock after selling 490 shares during the period. Curbstone Financial Management Corp's holdings in Caterpillar were worth $509,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Compass Financial Services Inc boosted 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 during the last quarter. Family Legacy Financial Solutions LLC acquired a new stake in Caterpillar in the 2nd quarter worth about $32,000. Redmont Wealth Advisors LLC acquired a new stake in Caterpillar in the 1st quarter worth about $33,000. Harbor Asset Planning Inc. acquired a new stake in Caterpillar in the 2nd quarter worth about $34,000. Finally, Total Wealth Planning & Management Inc. acquired a new stake in Caterpillar in the 2nd quarter worth about $38,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CAT shares. Weiss Ratings restated a "buy (b)" rating on shares of Caterpillar in a report on Tuesday, October 14th. Oppenheimer boosted their target price on Caterpillar from $480.00 to $513.00 and gave the stock an "outperform" rating in a report on Monday, September 29th. Sanford C. Bernstein boosted their target price on Caterpillar from $447.00 to $502.00 and gave the stock a "market perform" rating in a report on Tuesday. UBS Group boosted their target price on Caterpillar from $450.00 to $506.00 and gave the stock a "neutral" rating in a report on Monday, October 13th. Finally, Melius Research upgraded Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price objective on the stock in a report on Wednesday, July 9th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $510.60.

Insider Transactions at Caterpillar

In related news, Chairman Donald J. Umpleby III sold 17,166 shares of the stock in a transaction on Friday, October 10th. The stock was sold at an average price of $505.29, for a total value of $8,673,808.14. Following the transaction, the chairman owned 448,173 shares of the company's stock, valued at $226,457,335.17. This represents a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jason Kaiser sold 2,161 shares of the stock in a transaction 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 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. Over the last 90 days, insiders have sold 55,985 shares of company stock valued at $25,559,300. 0.33% of the stock is currently owned by company insiders.

Caterpillar Stock 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 stock's fifty day moving average is $453.38 and its two-hundred day moving average is $390.93. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $544.99. The stock has a market capitalization of $247.08 billion, a price-to-earnings ratio of 26.83, a price-to-earnings-growth ratio of 3.01 and a beta of 1.46.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing analysts' consensus estimates of $4.88 by ($0.16). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The firm had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. During the same quarter last year, the company earned $5.99 earnings per share. The firm's revenue for the quarter was down .7% on a year-over-year basis. Research analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Announces Dividend

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. The ex-dividend date of this dividend is Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.1%. Caterpillar's dividend payout ratio is currently 30.72%.

About Caterpillar

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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