Baxter Bros Inc. Has $260,000 Stock Position in Caterpillar Inc. $CAT

Baxter Bros Inc. reduced its stake in shares of Caterpillar Inc. (NYSE:CAT) by 10.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 671 shares of the industrial products company’s stock after selling 75 shares during the period. Baxter Bros Inc.’s holdings in Caterpillar were worth $260,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of CAT. Valeo Financial Advisors LLC raised its holdings in shares of Caterpillar by 36,842.1% in the second quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock valued at $2,833,836,000 after purchasing an additional 7,279,991 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Caterpillar by 2,723.1% in the first quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company’s stock valued at $466,430,000 after purchasing an additional 1,364,183 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Caterpillar in the first quarter valued at approximately $391,788,000. Assenagon Asset Management S.A. raised its holdings in shares of Caterpillar by 546.6% in the second quarter. Assenagon Asset Management S.A. now owns 843,093 shares of the industrial products company’s stock valued at $327,297,000 after purchasing an additional 712,711 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Caterpillar by 9.1% in the first quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company’s stock valued at $1,064,951,000 after purchasing an additional 268,300 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Trading Up 3.2%

Shares of Caterpillar stock opened at $502.08 on Thursday. The firm has a 50-day moving average of $440.73 and a 200-day moving average of $381.76. The stock has a market cap of $235.21 billion, a PE ratio of 25.54, a PEG ratio of 2.96 and a beta of 1.46. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $509.48. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing the consensus estimate of $4.88 by ($0.16). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The firm had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $16.14 billion. During the same period in the prior year, the company earned $5.99 EPS. The company’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, sell-side analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be given a dividend of $1.51 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $6.04 annualized dividend and a yield of 1.2%. Caterpillar’s dividend payout ratio is currently 30.72%.

Wall Street Analysts Forecast Growth

CAT has been the topic of a number of recent analyst reports. Jefferies Financial Group restated a “buy” rating and set a $500.00 target price on shares of Caterpillar in a report on Friday, August 29th. DA Davidson boosted their target price on shares of Caterpillar from $331.00 to $388.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. JPMorgan Chase & Co. boosted their target price on shares of Caterpillar from $475.00 to $520.00 and gave the stock an “overweight” rating in a report on Wednesday, August 6th. Melius upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 target price on the stock in a report on Wednesday, July 9th. Finally, Erste Group Bank upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Caterpillar currently has an average rating of “Moderate Buy” and an average price target of $473.53.

Insider Buying and Selling

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the business’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the transaction, the insider owned 8,632 shares of the company’s stock, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Donald J. Umpleby III sold 17,166 shares of the business’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $462.65, for a total value of $7,941,849.90. Following the transaction, the chairman directly owned 465,339 shares of the company’s stock, valued at approximately $215,289,088.35. The trade was a 3.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,819 shares of company stock valued at $16,885,492 over the last quarter. 0.33% of the stock is owned by company 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.