Folger Nolan Fleming Douglas Capital Management Inc. Sells 959 Shares of Caterpillar Inc. $CAT

Key Points

• Folger Nolan Fleming Douglas Capital Management Inc. has reduced its stake in Caterpillar Inc. by 3.2%, now holding 29,183 shares valued at approximately $11.33 million.
• Caterpillar's quarterly earnings missed analysts' estimates, reporting $4.72 EPS compared to a forecast of $4.88 EPS, with revenues slightly up at $16.57 billion.
• The company has announced a $1.51 quarterly dividend, with an ex-dividend date of October 20, reflecting a 1.2% yield based on an annualized payout.

Folger Nolan Fleming Douglas Capital Management Inc. trimmed its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 3.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,183 shares of the industrial products company's stock after selling 959 shares during the quarter. Caterpillar comprises about 1.3% of Folger Nolan Fleming Douglas Capital Management Inc.'s investment portfolio, making the stock its 21st largest holding. Folger Nolan Fleming Douglas Capital Management Inc.'s holdings in Caterpillar were worth $11,329,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of CAT. Family Legacy Financial Solutions LLC bought a new position in Caterpillar in the 2nd quarter valued at about $32,000. Compass Financial Services Inc increased 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 valued at $31,000 after buying an additional 31 shares during the period. Redmont Wealth Advisors LLC bought a new position in Caterpillar in the 1st quarter valued at about $33,000. Maseco LLP bought a new position in Caterpillar in the 2nd quarter valued at about $45,000. Finally, Park Place Capital Corp increased its holdings in Caterpillar by 47.6% in the 2nd quarter. Park Place Capital Corp now owns 124 shares of the industrial products company's stock valued at $48,000 after buying an additional 40 shares during the period. 70.98% of the stock is owned by institutional investors.

Caterpillar Stock Down 1.7%

Shares of NYSE CAT opened at $491.67 on Friday. The company has a 50 day simple moving average of $443.23 and a 200 day simple moving average of $383.88. The firm has a market cap of $230.34 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 3.04 and a beta of 1.46. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $511.50. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81.

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 (EPS) for the quarter, missing analysts' consensus estimates of $4.88 by ($0.16). The business had revenue of $16.57 billion during 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 quarterly revenue was down .7% compared to the same quarter last year. During the same quarter last year, the business earned $5.99 EPS. On average, research analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Monday, October 20th. Caterpillar's dividend payout ratio (DPR) is 30.72%.

Insider Activity at Caterpillar

In related news, insider Jason Kaiser sold 2,161 shares of the firm'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 trade represents a 20.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the completion of the transaction, the chairman owned 482,505 shares of the company's stock, valued at approximately $199,211,839.35. This trade represents a 3.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,819 shares of company stock worth $16,885,492 in the last quarter. 0.33% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have commented on CAT. Melius raised shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 target price on the stock in a report on Wednesday, July 9th. JPMorgan Chase & Co. raised their target price on shares of Caterpillar from $475.00 to $520.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Oppenheimer increased their target price on shares of Caterpillar from $480.00 to $513.00 and gave the stock an "outperform" rating in a report on Monday, September 29th. Citigroup increased their target price on shares of Caterpillar from $540.00 to $570.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, Bank of America increased their target price on shares of Caterpillar from $495.00 to $517.00 and gave the stock a "buy" rating in a report on Monday, September 22nd. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Caterpillar presently has an average rating of "Moderate Buy" and a consensus price target of $478.20.

Caterpillar Company 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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