Caterpillar Inc. $CAT Shares Bought by Griffin Asset Management Inc.

Griffin Asset Management Inc. boosted its position in shares of Caterpillar Inc. (NYSE:CAT) by 20.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,644 shares of the industrial products company’s stock after acquiring an additional 3,515 shares during the period. Griffin Asset Management Inc.’s holdings in Caterpillar were worth $8,014,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Family Legacy Financial Solutions LLC acquired a new position in Caterpillar during the 2nd quarter worth approximately $32,000. Compass Financial Services Inc grew its holdings in Caterpillar by 49.2% during the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 31 shares in the last quarter. Redmont Wealth Advisors LLC acquired a new position in Caterpillar during the 1st quarter worth approximately $33,000. Maseco LLP acquired a new position in shares of Caterpillar in the 2nd quarter valued at $45,000. Finally, Richardson Financial Services Inc. boosted its holdings in shares of Caterpillar by 109.1% in the 2nd quarter. Richardson Financial Services Inc. now owns 115 shares of the industrial products company’s stock valued at $45,000 after buying an additional 60 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Down 1.7%

Shares of Caterpillar stock opened at $491.67 on Monday. The company has a market cap of $230.34 billion, a P/E ratio of 25.01, a PEG ratio of 3.01 and a beta of 1.46. 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 Inc. has a one year low of $267.30 and a one year high of $511.50. The firm has a fifty day moving average of $443.23 and a two-hundred day moving average of $384.49.

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

Caterpillar Announces Dividend

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

Insider Transactions at Caterpillar

In other news, Chairman Donald J. Umpleby III sold 17,168 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the transaction, the chairman directly owned 482,505 shares of the company’s stock, valued at $199,211,839.35. This represents a 3.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of the company’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $410.00, for a total transaction of $952,840.00. Following the transaction, the director directly owned 6,917 shares in the company, valued at approximately $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,819 shares of company stock valued at $16,885,492 in the last ninety days. 0.33% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Oppenheimer upped their target price on shares of Caterpillar from $480.00 to $513.00 and gave the company an “outperform” rating in a report on Monday, September 29th. Evercore ISI upgraded shares of Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 target price for the company in a report on Tuesday, August 19th. JPMorgan Chase & Co. upped their target price on shares of Caterpillar from $475.00 to $520.00 and gave the company an “overweight” rating in a report on Wednesday, August 6th. Erste Group Bank upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Finally, Melius upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 target price for the company in a report on Wednesday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $478.20.

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.