Caterpillar, Inc. (CAT) Shares Sold by Logan Capital Management Inc.
Logan Capital Management Inc. cut its stake in shares of Caterpillar, Inc. (NYSE:CAT) by 8.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,320 shares of the industrial products company’s stock after selling 1,343 shares during the period. Logan Capital Management Inc.’s holdings in Caterpillar were worth $1,329,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of CAT. Howe & Rusling Inc. increased its stake in Caterpillar by 52.0% in the first quarter. Howe & Rusling Inc. now owns 1,087 shares of the industrial products company’s stock valued at $101,000 after buying an additional 372 shares during the period. First Personal Financial Services increased its stake in Caterpillar by 167.4% in the first quarter. First Personal Financial Services now owns 1,198 shares of the industrial products company’s stock valued at $111,000 after buying an additional 750 shares during the period. Harfst & Associates Inc. bought a new stake in Caterpillar during the first quarter valued at $111,000. Financial Architects Inc increased its stake in Caterpillar by 5.7% in the first quarter. Financial Architects Inc now owns 1,215 shares of the industrial products company’s stock valued at $113,000 after buying an additional 65 shares during the period. Finally, Ledyard National Bank increased its stake in Caterpillar by 145.7% in the first quarter. Ledyard National Bank now owns 1,425 shares of the industrial products company’s stock valued at $132,000 after buying an additional 845 shares during the period. 70.53% of the stock is owned by hedge funds and other institutional investors.
Caterpillar, Inc. (NYSE:CAT) traded down 0.87% during mid-day trading on Thursday, reaching $113.35. 698,397 shares of the company’s stock traded hands. The company has a market cap of $66.99 billion, a P/E ratio of 633.24 and a beta of 1.25. Caterpillar, Inc. has a 12-month low of $79.93 and a 12-month high of $115.46. The stock has a 50 day moving average of $109.24 and a 200 day moving average of $100.97.
Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.23. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. The business had revenue of $11.33 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same quarter in the previous year, the firm earned $1.09 earnings per share. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, equities research analysts predict that Caterpillar, Inc. will post $5.24 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, August 19th. Shareholders of record on Thursday, July 20th will be issued a dividend of $0.78 per share. The ex-dividend date is Tuesday, July 18th. This represents a $3.12 annualized dividend and a yield of 2.73%. This is an increase from Caterpillar’s previous quarterly dividend of $0.77. Caterpillar’s payout ratio is currently 2,080.00%.
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Several equities research analysts have recently commented on the stock. Credit Suisse Group reissued a “buy” rating and set a $123.00 target price on shares of Caterpillar in a research report on Thursday, June 22nd. Vetr downgraded shares of Caterpillar from a “sell” rating to a “strong sell” rating and set a $86.90 target price for the company. in a research report on Tuesday, April 25th. Robert W. Baird set a $102.00 target price on shares of Caterpillar and gave the stock a “hold” rating in a research report on Wednesday, April 12th. Bank of America Corporation set a $120.00 target price on shares of Caterpillar and gave the stock a “buy” rating in a research report on Tuesday, June 20th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $125.00 target price on shares of Caterpillar in a research report on Sunday, July 30th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $106.56.
In other Caterpillar news, insider Bradley M. Halverson sold 182,612 shares of Caterpillar stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $114.05, for a total transaction of $20,826,898.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William A. Osborn sold 5,000 shares of Caterpillar stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $113.67, for a total transaction of $568,350.00. The disclosure for this sale can be found here. Insiders have sold 201,471 shares of company stock worth $22,979,332 in the last ninety days. Insiders own 0.15% of the company’s stock.
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