Savant Capital LLC Cuts Stock Position in Caterpillar Inc. $CAT

Key Points

• Savant Capital LLC reduced its Caterpillar stake by 20.9% in the fourth quarter, selling 12,017 shares and leaving it with 45,470 shares valued at about $26.0 million.
• Caterpillar reported a strong quarter, with EPS of $5.54 and revenue of $17.42 billion, both beating estimates; revenue also rose 22.2% from a year earlier.
• The company’s shares were down 2.5% in the session, while analysts remain generally positive with a Moderate Buy consensus and an average price target of $923.14.

Savant Capital LLC lessened its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 20.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 45,470 shares of the industrial products company's stock after selling 12,017 shares during the period. Savant Capital LLC's holdings in Caterpillar were worth $26,048,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of CAT. Pacific Point Advisors LLC purchased a new stake in Caterpillar in the 4th quarter worth $579,000. Brighton Jones LLC boosted its holdings in shares of Caterpillar by 51.5% during the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company's stock valued at $2,688,000 after purchasing an additional 2,519 shares during the last quarter. United Bank boosted its holdings in shares of Caterpillar by 108.5% during the 2nd quarter. United Bank now owns 4,083 shares of the industrial products company's stock valued at $1,585,000 after purchasing an additional 2,125 shares during the last quarter. Schnieders Capital Management LLC. boosted its holdings in shares of Caterpillar by 3.9% during the 2nd quarter. Schnieders Capital Management LLC. now owns 9,147 shares of the industrial products company's stock valued at $3,551,000 after purchasing an additional 347 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in shares of Caterpillar by 6.5% during the 2nd quarter. Alliancebernstein L.P. now owns 572,165 shares of the industrial products company's stock valued at $222,120,000 after purchasing an additional 34,846 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

Caterpillar Stock Down 2.5%

Shares of NYSE:CAT opened at $887.04 on Friday. The company has a current ratio of 1.35, a quick ratio of 0.81 and a debt-to-equity ratio of 1.64. Caterpillar Inc. has a 12 month low of $339.50 and a 12 month high of $931.35. The company has a 50-day moving average price of $807.51 and a 200 day moving average price of $701.11. The company has a market cap of $408.56 billion, a price-to-earnings ratio of 44.15, a PEG ratio of 1.80 and a beta of 1.63.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The industrial products company reported $5.54 EPS for the quarter, beating analysts' consensus estimates of $4.65 by $0.89. Caterpillar had a net margin of 13.33% and a return on equity of 48.21%. The firm had revenue of $17.42 billion during the quarter, compared to the consensus estimate of $16.53 billion. During the same quarter last year, the firm earned $4.25 EPS. The firm's revenue for the quarter was up 22.2% compared to the same quarter last year. As a group, equities research analysts predict that Caterpillar Inc. will post 24.67 earnings per share for the current year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 19th. Investors of record on Monday, April 20th were issued a $1.51 dividend. The ex-dividend date of this dividend was Monday, April 20th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 0.7%. Caterpillar's dividend payout ratio (DPR) is presently 30.06%.

Insider Transactions at Caterpillar

In related news, insider Jason Kaiser sold 5,642 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $883.03, for a total value of $4,982,055.26. Following the completion of the transaction, the insider owned 9,594 shares of the company's stock, valued at approximately $8,471,789.82. This trade represents a 37.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anthony D. Fassino sold 16,283 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $916.80, for a total transaction of $14,928,254.40. Following the completion of the transaction, the insider directly owned 46,041 shares of the company's stock, valued at approximately $42,210,388.80. The trade was a 26.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 98,273 shares of company stock worth $89,439,960 in the last quarter. Company insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Morgan Stanley set a $915.00 price objective on shares of Caterpillar and gave the company an "equal weight" rating in a report on Friday, May 1st. Wolfe Research increased their price objective on shares of Caterpillar from $670.00 to $750.00 and gave the company an "outperform" rating in a report on Tuesday, March 31st. Oppenheimer set a $980.00 price objective on shares of Caterpillar and gave the company an "outperform" rating in a report on Friday, May 1st. UBS Group reissued a "neutral" rating and set a $677.00 price objective on shares of Caterpillar in a report on Monday, February 2nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Caterpillar from $860.00 to $1,125.00 and gave the company an "overweight" rating in a report on Friday, May 1st. Sixteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $923.14.

About Caterpillar

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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