Sunpointe LLC Trims Stock Position in Caterpillar Inc. (NYSE:CAT)

Sunpointe LLC trimmed its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 18.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 853 shares of the industrial products company’s stock after selling 189 shares during the period. Sunpointe LLC’s holdings in Caterpillar were worth $334,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Pacifica Partners Inc. raised its stake in shares of Caterpillar by 1.6% during the 3rd quarter. Pacifica Partners Inc. now owns 1,807 shares of the industrial products company’s stock worth $707,000 after buying an additional 28 shares in the last quarter. Souders Financial Advisors grew its holdings in shares of Caterpillar by 0.8% in the 2nd quarter. Souders Financial Advisors now owns 3,657 shares of the industrial products company’s stock worth $1,218,000 after acquiring an additional 29 shares during the period. Southland Equity Partners LLC grew its holdings in shares of Caterpillar by 4.0% in the 1st quarter. Southland Equity Partners LLC now owns 784 shares of the industrial products company’s stock worth $287,000 after acquiring an additional 30 shares during the period. Davis Investment Partners LLC grew its holdings in shares of Caterpillar by 2.1% in the 1st quarter. Davis Investment Partners LLC now owns 1,454 shares of the industrial products company’s stock worth $541,000 after acquiring an additional 30 shares during the period. Finally, Hilltop National Bank grew its holdings in shares of Caterpillar by 1.2% in the 2nd quarter. Hilltop National Bank now owns 2,636 shares of the industrial products company’s stock worth $878,000 after acquiring an additional 31 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Stock Up 1.4 %

Shares of Caterpillar stock traded up $5.42 during trading hours on Wednesday, hitting $393.41. 105,849 shares of the company’s stock traded hands, compared to its average volume of 2,639,951. The stock has a 50 day simple moving average of $360.22 and a 200-day simple moving average of $349.61. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39. The company has a market cap of $192.40 billion, a PE ratio of 17.52, a PEG ratio of 1.85 and a beta of 1.10. Caterpillar Inc. has a twelve month low of $223.76 and a twelve month high of $403.60.

Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, beating the consensus estimate of $5.53 by $0.46. The company had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The company’s revenue was down 3.6% on a year-over-year basis. During the same period last year, the firm earned $5.55 earnings per share. Equities research analysts anticipate that Caterpillar Inc. will post 21.91 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be paid a $1.41 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.43%. Caterpillar’s dividend payout ratio (DPR) is 25.46%.

Insider Buying and Selling

In other news, Director Gerald Johnson purchased 100 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was acquired at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the purchase, the director now owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the transaction, the insider now directly owns 33,442 shares in the company, valued at $11,750,181.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was bought at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the purchase, the director now owns 2,842 shares of the company’s stock, valued at $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

CAT has been the topic of a number of research reports. Morgan Stanley cut Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $349.00 to $332.00 in a report on Monday. Citigroup increased their target price on Caterpillar from $380.00 to $445.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. increased their target price on Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a report on Monday. Evercore ISI lowered their target price on Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Finally, Barclays raised their price objective on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Caterpillar has a consensus rating of “Hold” and a consensus price target of $355.50.

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.