KMG Fiduciary Partners LLC Sells 6,568 Shares of Caterpillar Inc. $CAT

KMG Fiduciary Partners LLC lowered its position in Caterpillar Inc. (NYSE:CAT) by 81.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,530 shares of the industrial products company’s stock after selling 6,568 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in Caterpillar were worth $1,630,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Pacific Point Advisors LLC acquired a new stake in shares of Caterpillar during the 4th quarter valued at about $579,000. Brighton Jones LLC raised its position in Caterpillar by 51.5% in the fourth quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock worth $2,688,000 after purchasing an additional 2,519 shares in the last quarter. United Bank lifted its stake in Caterpillar by 108.5% during the second quarter. United Bank now owns 4,083 shares of the industrial products company’s stock worth $1,585,000 after purchasing an additional 2,125 shares during the period. Schnieders Capital Management LLC. boosted its holdings in Caterpillar by 3.9% during the second 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 in the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in Caterpillar by 6.5% during the second 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 in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

CAT has been the subject of several recent analyst reports. Bank of America increased their price objective on Caterpillar from $930.00 to $989.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Jefferies Financial Group upped their target price on shares of Caterpillar from $900.00 to $1,045.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Rothschild & Co Redburn lifted their price target on shares of Caterpillar from $700.00 to $950.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. HSBC upped their price objective on shares of Caterpillar from $850.00 to $1,100.00 in a research note on Tuesday, May 5th. Finally, Royal Bank Of Canada lifted their target price on shares of Caterpillar from $877.00 to $897.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 5th. Thirteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $995.52.

Insider Activity

In other news, CAO William E. Schaupp sold 360 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $906.00, for a total value of $326,160.00. Following the transaction, the chief accounting officer owned 530 shares of the company’s stock, valued at approximately $480,180. This trade represents a 40.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Denise C. Johnson sold 12,605 shares of Caterpillar stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $907.91, for a total transaction of $11,444,205.55. Following the sale, the insider owned 49,825 shares of the company’s stock, valued at approximately $45,236,615.75. This represents a 20.19% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 19,161 shares of company stock worth $17,407,424. 0.33% of the stock is owned by company insiders.

Caterpillar Price Performance

CAT opened at $836.29 on Tuesday. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.37 and a quick ratio of 0.85. The company’s 50 day simple moving average is $920.45 and its 200-day simple moving average is $821.82. Caterpillar Inc. has a one year low of $405.46 and a one year high of $1,073.46. The stock has a market capitalization of $384.42 billion, a P/E ratio of 35.98, a price-to-earnings-growth ratio of 1.52 and a beta of 1.60.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, August 4th. The industrial products company reported $8.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.22 by $1.95. The firm had revenue of $20.54 billion for the quarter, compared to the consensus estimate of $19.34 billion. Caterpillar had a return on equity of 55.53% and a net margin of 14.51%.The business’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.72 EPS. Sell-side analysts anticipate that Caterpillar Inc. will post 26.3 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Monday, July 20th will be issued a $1.63 dividend. This is a positive change from Caterpillar’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, July 20th. Caterpillar’s dividend payout ratio (DPR) is 28.06%.

Caterpillar Company Profile

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.