Southeast Asset Advisors LLC Acquires 3,004 Shares of Caterpillar Inc. $CAT

Key Points

• Southeast Asset Advisors LLC increased its holdings in Caterpillar Inc. by 82.9% during the 1st quarter, bringing its total ownership to shares valued at approximately $2.2 million.
• Insider Director Susan C. Schwab recently sold 2,324 shares, reducing her position by 25.15%, while Jason Kaiser also sold shares, decreasing his holdings by 20.02%.
• Caterpillar declared a quarterly dividend of $1.51, up from the previous $1.41, reflecting a 1.4% dividend yield and a payout ratio of 30.72%.

Southeast Asset Advisors LLC boosted its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 82.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,626 shares of the industrial products company's stock after purchasing an additional 3,004 shares during the period. Southeast Asset Advisors LLC's holdings in Caterpillar were worth $2,185,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CAT. Investment Management Corp VA ADV bought a new position in Caterpillar in the 4th quarter valued at $33,000. Curat Global LLC bought a new position in shares of Caterpillar in the first quarter valued at about $33,000. Redmont Wealth Advisors LLC acquired a new position in Caterpillar during the 1st quarter worth about $33,000. Quarry LP acquired a new stake in Caterpillar in the 4th quarter valued at about $35,000. Finally, Mpwm Advisory Solutions LLC acquired a new position in shares of Caterpillar during the fourth quarter worth approximately $36,000. Institutional investors own 70.98% of the company's stock.

Caterpillar Stock Up 0.4%

CAT traded up $1.91 during trading on Wednesday, hitting $433.17. The company had a trading volume of 1,970,924 shares, compared to its average volume of 3,433,062. The firm's 50-day moving average price is $410.05 and its 200 day moving average price is $359.24. The company has a market capitalization of $202.93 billion, a PE ratio of 22.37, a PEG ratio of 2.57 and a beta of 1.40. 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 Inc. has a one year low of $267.30 and a one year high of $441.15.

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 net margin of 14.95% and a return on equity of 48.95%. The firm had revenue of $16.57 billion during the quarter, compared to analyst estimates of $16.14 billion. During the same period in the prior year, the business posted $5.99 EPS. The firm's quarterly revenue was down .7% compared to the same quarter last year. As a group, equities analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Monday, July 21st were given a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.4%. This is an increase from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date of this dividend was Monday, July 21st. Caterpillar's payout ratio is 30.72%.

Insider Buying and Selling at Caterpillar

In other news, insider Jason Kaiser sold 2,161 shares of the firm's stock in a transaction dated Monday, August 11th. The stock was 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Susan C. Schwab sold 2,324 shares of the company's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the sale, the director owned 6,917 shares in the company, valued at $2,835,970. The trade was a 25.15% decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CAT has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Caterpillar from $475.00 to $520.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 6th. Barclays raised their price target on Caterpillar from $383.00 to $425.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Melius Research raised Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price objective for the company in a report on Wednesday, July 9th. Melius upgraded shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price target for the company in a research report on Wednesday, July 9th. Finally, Sanford C. Bernstein restated a "market perform" rating on shares of Caterpillar in a report on Monday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Caterpillar presently has an average rating of "Moderate Buy" and a consensus target price of $450.87.

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.