D L Carlson Investment Group Inc. Decreases Position in Caterpillar Inc. $CAT

Key Points

• D L Carlson Investment Group Inc. reduced its stake in Caterpillar Inc. by 11.3%, holding 6,205 shares after selling 792 shares in the first quarter, valued at approximately $2,046,000.
• Insider trading activity included Director Susan C. Schwab selling 2,324 shares, while another insider, Jason Kaiser, sold 2,161 shares, both significantly reducing their ownership in the company.
• Caterpillar recently declared an increased quarterly dividend of $1.51 per share, up from the previous $1.41, reflecting a positive change in its shareholder returns.

D L Carlson Investment Group Inc. trimmed its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 11.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,205 shares of the industrial products company's stock after selling 792 shares during the period. D L Carlson Investment Group Inc.'s holdings in Caterpillar were worth $2,046,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. McIlrath & Eck LLC boosted its holdings in Caterpillar by 3.2% in the 4th quarter. McIlrath & Eck LLC now owns 962 shares of the industrial products company's stock valued at $349,000 after purchasing an additional 30 shares during the period. Allen Wealth Management LLC boosted its holdings in Caterpillar by 0.8% in the 1st quarter. Allen Wealth Management LLC now owns 4,010 shares of the industrial products company's stock valued at $1,322,000 after purchasing an additional 30 shares during the period. Warwick Investment Management Inc. boosted its holdings in Caterpillar by 2.6% in the 1st quarter. Warwick Investment Management Inc. now owns 1,167 shares of the industrial products company's stock valued at $385,000 after purchasing an additional 30 shares during the period. Asset Management Group Inc. boosted its holdings in Caterpillar by 0.3% in the 4th quarter. Asset Management Group Inc. now owns 10,771 shares of the industrial products company's stock valued at $3,907,000 after purchasing an additional 32 shares during the period. Finally, Summit X LLC boosted its holdings in Caterpillar by 3.2% in the 1st quarter. Summit X LLC now owns 1,025 shares of the industrial products company's stock valued at $338,000 after purchasing an additional 32 shares during the period. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Susan C. Schwab sold 2,324 shares of the 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 $2,835,970. This represents a 25.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jason Kaiser sold 2,161 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the transaction, the insider owned 8,632 shares in the company, valued at approximately $3,605,586.40. This trade represents a 20.02% decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CAT shares. DA Davidson raised 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. Citigroup boosted their price target on shares of Caterpillar from $460.00 to $500.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Melius Research upgraded shares of Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price objective on the stock in a research report on Wednesday, July 9th. 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 research report on Tuesday, August 19th. Finally, Oppenheimer boosted their price objective on shares of Caterpillar from $395.00 to $483.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $450.87.

Caterpillar Stock Down 0.3%

Shares of Caterpillar stock opened at $431.05 on Wednesday. The company has a market cap of $201.94 billion, a price-to-earnings ratio of 21.93, a price-to-earnings-growth ratio of 2.58 and a beta of 1.40. The company's 50 day moving average is $408.58 and its 200 day moving average is $358.73. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $441.15. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50.

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

Caterpillar Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Monday, July 21st were given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.4%. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date was Monday, July 21st. 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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