City State Bank Sells 30 Shares of Caterpillar Inc. $CAT

City State Bank lessened its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 0.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,483 shares of the industrial products company’s stock after selling 30 shares during the period. City State Bank’s holdings in Caterpillar were worth $1,740,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Trivium Point Advisory LLC raised its position in shares of Caterpillar by 132.9% in the 2nd quarter. Trivium Point Advisory LLC now owns 1,926 shares of the industrial products company’s stock worth $748,000 after purchasing an additional 1,099 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Caterpillar by 9.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company’s stock worth $26,037,000 after purchasing an additional 7,125 shares during the last quarter. Palmer Knight Co purchased a new position in shares of Caterpillar in the 2nd quarter worth about $5,884,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in shares of Caterpillar by 11.2% in the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,315 shares of the industrial products company’s stock worth $5,557,000 after purchasing an additional 1,440 shares during the last quarter. Finally, Ransom Advisory Ltd purchased a new position in shares of Caterpillar in the 1st quarter worth about $427,000. Institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $522.13 on Friday. The firm’s 50 day moving average price is $464.46 and its 200-day moving average price is $398.36. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $544.99. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $244.61 billion, a PE ratio of 26.56, a price-to-earnings-growth ratio of 2.96 and a beta of 1.46.

Caterpillar (NYSE:CAT) last issued 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). The business had revenue of $16.57 billion during the quarter, compared to the consensus estimate of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.Caterpillar’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter last year, the company earned $5.99 EPS. Equities research analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

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

Insider Buying and Selling

In related news, insider Jason Kaiser sold 2,161 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of the sale, the insider directly owned 8,632 shares of the company’s stock, valued at approximately $3,605,586.40. This represents a 20.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Donald J. Umpleby III sold 17,166 shares of the stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $505.29, for a total transaction of $8,673,808.14. Following the completion of the sale, the chairman directly owned 448,173 shares of the company’s stock, valued at $226,457,335.17. This represents a 3.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,985 shares of company stock valued at $25,559,300. 0.33% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Melius Research raised Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price target for the company in a research report on Wednesday, July 9th. Erste Group Bank raised Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of Caterpillar in a research report on Tuesday, October 14th. JPMorgan Chase & Co. boosted their target price on Caterpillar from $505.00 to $650.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Finally, Sanford C. Bernstein boosted their target price on Caterpillar from $447.00 to $502.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Caterpillar presently has an average rating of “Moderate Buy” and an average target price of $518.19.

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.