SOL Capital Management CO cut its position in shares of Caterpillar, Inc. (NYSE:CAT) by 6.3% during the second quarter, Holdings Channel reports. The fund owned 6,685 shares of the industrial products company’s stock after selling 450 shares during the period. SOL Capital Management CO’s holdings in Caterpillar were worth $718,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC raised its stake in Caterpillar by 11.4% in the first quarter. FMR LLC now owns 17,561,361 shares of the industrial products company’s stock worth $1,628,992,000 after buying an additional 1,798,312 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Caterpillar during the first quarter worth about $143,490,000. Morgan Stanley raised its stake in Caterpillar by 15.1% in the first quarter. Morgan Stanley now owns 10,398,677 shares of the industrial products company’s stock worth $964,579,000 after buying an additional 1,365,856 shares during the last quarter. Vanguard Group Inc. raised its stake in Caterpillar by 3.6% in the first quarter. Vanguard Group Inc. now owns 38,847,552 shares of the industrial products company’s stock worth $3,603,500,000 after buying an additional 1,342,984 shares during the last quarter. Finally, Cibc World Markets Corp raised its stake in Caterpillar by 507.9% in the first quarter. Cibc World Markets Corp now owns 1,276,465 shares of the industrial products company’s stock worth $118,405,000 after buying an additional 1,066,492 shares during the last quarter. Institutional investors own 70.27% of the company’s stock.

Shares of Caterpillar, Inc. (NYSE:CAT) traded down 0.1815% during midday trading on Tuesday, hitting $113.5036. The stock had a trading volume of 791,654 shares. The company’s 50 day moving average price is $110.04 and its 200-day moving average price is $101.37. The firm has a market capitalization of $67.08 billion, a PE ratio of 634.0983 and a beta of 1.25. Caterpillar, Inc. has a 1-year low of $79.93 and a 1-year high of $115.46.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.23. The company had revenue of $11.33 billion for the quarter, compared to analyst estimates of $10.96 billion. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. Caterpillar’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.09 EPS. Equities analysts predict that Caterpillar, Inc. will post $5.24 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, August 19th. Stockholders of record on Thursday, July 20th will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Tuesday, July 18th. This is a positive change from Caterpillar’s previous quarterly dividend of $0.77. This represents a $3.12 annualized dividend and a dividend yield of 2.74%. Caterpillar’s payout ratio is currently 2,080.00%.

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A number of analysts have recently issued reports on CAT shares. Bank of America Corporation upgraded Caterpillar from a “neutral” rating to a “buy” rating and increased their target price for the company from $105.00 to $120.00 in a report on Thursday, May 11th. Stifel Nicolaus reduced their target price on Caterpillar from $111.00 to $95.00 and set a “hold” rating for the company in a report on Wednesday, April 26th. Axiom Securities restated a “sell” rating on shares of Caterpillar in a report on Friday, June 16th. Vetr lowered Caterpillar from a “sell” rating to a “strong sell” rating and set a $86.90 target price for the company. in a report on Tuesday, April 25th. Finally, Zacks Investment Research lowered Caterpillar from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 27th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $107.15.

In other news, Director William A. Osborn sold 5,000 shares of the business’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $113.67, for a total transaction of $568,350.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Bradley M. Halverson sold 182,612 shares of the business’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $114.05, for a total transaction of $20,826,898.60. The disclosure for this sale can be found here. Insiders have sold a total of 201,471 shares of company stock worth $22,979,332 over the last 90 days. 0.15% of the stock is owned by company insiders.

Caterpillar Company Profile

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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