King Luther Capital Management Corp Sells 1,113 Shares of Caterpillar Inc. (NYSE:CAT)

King Luther Capital Management Corp cut its stake in shares of Caterpillar Inc. (NYSE:CAT) by 5.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,405 shares of the industrial products company’s stock after selling 1,113 shares during the quarter. King Luther Capital Management Corp’s holdings in Caterpillar were worth $5,442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Partnership Wealth Management LLC bought a new stake in Caterpillar in the fourth quarter valued at $26,000. Gilfoyle & Co LLC bought a new stake in Caterpillar in the fourth quarter valued at $30,000. Fortitude Family Office LLC bought a new stake in shares of Caterpillar during the 4th quarter valued at $39,000. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of Caterpillar during the 4th quarter valued at $40,000. Finally, DiNuzzo Private Wealth Inc. bought a new stake in shares of Caterpillar during the 4th quarter valued at $41,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Stock Performance

Shares of NYSE CAT traded down $1.89 during midday trading on Thursday, hitting $354.05. 532,332 shares of the company’s stock traded hands, compared to its average volume of 2,449,390. Caterpillar Inc. has a 1 year low of $205.60 and a 1 year high of $382.01. The stock has a market capitalization of $173.15 billion, a price-to-earnings ratio of 16.07, a price-to-earnings-growth ratio of 1.84 and a beta of 1.19. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.83 and a current ratio of 1.35. The firm has a fifty day moving average of $356.77 and a 200 day moving average of $313.36.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.60 EPS for the quarter, beating the consensus estimate of $5.12 by $0.48. The firm had revenue of $15.80 billion during the quarter, compared to analyst estimates of $16.07 billion. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. On average, analysts forecast that Caterpillar Inc. will post 21.8 earnings per share for the current year.

Caterpillar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, April 22nd were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend was Friday, April 19th. Caterpillar’s dividend payout ratio is 23.48%.

Analyst Ratings Changes

CAT has been the topic of a number of research reports. Citigroup boosted their target price on shares of Caterpillar from $255.00 to $340.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Robert W. Baird upped their price target on shares of Caterpillar from $210.00 to $257.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 6th. JPMorgan Chase & Co. upped their price target on shares of Caterpillar from $385.00 to $435.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. Wells Fargo & Company upped their price target on shares of Caterpillar from $290.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. Finally, StockNews.com cut shares of Caterpillar from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $323.35.

Insiders Place Their Bets

In other Caterpillar news, insider Lange Bob De sold 21,847 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $356.90, for a total value of $7,797,194.30. Following the completion of the transaction, the insider now directly owns 71,115 shares in the company, valued at approximately $25,380,943.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director David Maclennan bought 350 shares of the stock in a transaction dated Friday, February 23rd. The stock was purchased at an average cost of $323.37 per share, for a total transaction of $113,179.50. Following the transaction, the director now owns 5,238 shares of the company’s stock, valued at $1,693,812.06. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Lange Bob De sold 21,847 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $356.90, for a total value of $7,797,194.30. Following the transaction, the insider now owns 71,115 shares of the company’s stock, valued at $25,380,943.50. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

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.