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Probity Advisors Inc. Cuts Stock Holdings in Caterpillar Inc. $CAT

Caterpillar logo with Industrials background

Key Points

  • Probity Advisors Inc. reduced its stake in Caterpillar Inc. by 14.8%, finishing with 2,994 shares valued at approximately $1.16 million.
  • Analysts have been bullish on Caterpillar, with reports raising its target price from $480 to $594, and the consensus rating currently stands at "Moderate Buy."
  • Caterpillar recently announced a quarterly dividend of $1.51 per share, translating to an annual yield of 1.1%.
  • MarketBeat previews top five stocks to own in November.

Probity Advisors Inc. reduced its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 14.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,994 shares of the industrial products company's stock after selling 521 shares during the period. Probity Advisors Inc.'s holdings in Caterpillar were worth $1,162,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Aire Advisors LLC increased its holdings in Caterpillar by 0.3% in the second quarter. Aire Advisors LLC now owns 9,042 shares of the industrial products company's stock valued at $3,510,000 after buying an additional 25 shares in the last quarter. Dumont & Blake Investment Advisors LLC increased its holdings in Caterpillar by 0.5% in the second quarter. Dumont & Blake Investment Advisors LLC now owns 4,954 shares of the industrial products company's stock valued at $1,923,000 after buying an additional 25 shares in the last quarter. GSB Wealth Management LLC increased its holdings in Caterpillar by 1.2% in the second quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company's stock valued at $832,000 after buying an additional 26 shares in the last quarter. Verum Partners LLC increased its holdings in Caterpillar by 2.5% in the second quarter. Verum Partners LLC now owns 1,059 shares of the industrial products company's stock valued at $411,000 after buying an additional 26 shares in the last quarter. Finally, Vanguard Capital Wealth Advisors increased its holdings in Caterpillar by 0.8% in the second quarter. Vanguard Capital Wealth Advisors now owns 3,575 shares of the industrial products company's stock valued at $1,388,000 after buying an additional 27 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on CAT shares. Evercore ISI raised shares of Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 target price for the company in a report on Tuesday, August 19th. Oppenheimer increased their target price on shares of Caterpillar from $480.00 to $513.00 and gave the company an "outperform" rating in a report on Monday, September 29th. Weiss Ratings reissued a "buy (b)" rating on shares of Caterpillar in a research note on Tuesday, October 14th. Melius Research raised shares of Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price objective for the company in a research note on Wednesday, July 9th. Finally, Bank of America raised their price objective on shares of Caterpillar from $517.00 to $594.00 and gave the stock a "buy" rating in a research note on Wednesday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $515.40.

Read Our Latest Stock Analysis on Caterpillar

Insider Buying and Selling

In related news, Chairman Donald J. Umpleby III sold 17,166 shares of the firm's stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $505.29, for a total transaction of $8,673,808.14. Following the sale, the chairman owned 448,173 shares in the company, valued at approximately $226,457,335.17. This trade represents a 3.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction 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 completion of 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. Over the last 90 days, insiders have sold 55,985 shares of company stock worth $25,559,300. 0.33% of the stock is owned by insiders.

Caterpillar Stock Up 0.9%

Shares of NYSE CAT opened at $531.80 on Tuesday. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $544.99. The firm's 50 day moving average price is $455.85 and its 200 day moving average price is $393.23. The firm has a market cap of $249.13 billion, a P/E ratio of 27.05, a price-to-earnings-growth ratio of 3.00 and a beta of 1.46. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34.

Caterpillar (NYSE:CAT - Get Free Report) last announced its earnings results 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). 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 business posted $5.99 EPS. The firm's revenue was down .7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be given a dividend of $1.51 per share. The ex-dividend date is Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a yield of 1.1%. Caterpillar's dividend payout ratio (DPR) is 30.72%.

Caterpillar Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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