Clark & Stuart Inc Sells 50 Shares of Caterpillar Inc. $CAT

Clark & Stuart Inc trimmed its position in Caterpillar Inc. (NYSE:CAT) by 7.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 639 shares of the industrial products company’s stock after selling 50 shares during the period. Clark & Stuart Inc’s holdings in Caterpillar were worth $248,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Seamount Financial Group Inc. acquired a new stake in Caterpillar in the 2nd quarter valued at approximately $374,000. Heck Capital Advisors LLC grew its stake in shares of Caterpillar by 46.6% during the 2nd quarter. Heck Capital Advisors LLC now owns 3,734 shares of the industrial products company’s stock worth $1,450,000 after acquiring an additional 1,187 shares in the last quarter. KPP Advisory Services LLC grew its stake in shares of Caterpillar by 3.4% during the 2nd quarter. KPP Advisory Services LLC now owns 2,258 shares of the industrial products company’s stock worth $877,000 after acquiring an additional 74 shares in the last quarter. Belpointe Asset Management LLC raised its holdings in shares of Caterpillar by 8.5% in the second quarter. Belpointe Asset Management LLC now owns 2,416 shares of the industrial products company’s stock valued at $938,000 after purchasing an additional 189 shares during the last quarter. Finally, Cullinan Associates Inc. lifted its position in shares of Caterpillar by 1.8% in the second quarter. Cullinan Associates Inc. now owns 35,666 shares of the industrial products company’s stock worth $13,846,000 after purchasing an additional 644 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Jefferies Financial Group reaffirmed a “buy” rating and issued a $500.00 target price on shares of Caterpillar in a research report on Friday, August 29th. Erste Group Bank upgraded Caterpillar from a “hold” rating to a “buy” rating in a report on Friday. Melius Research upgraded Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 target price on the stock in a report on Wednesday, July 9th. Robert W. Baird increased their price target on Caterpillar from $495.00 to $540.00 and gave the company an “outperform” rating in a research report on Wednesday, September 17th. Finally, Oppenheimer boosted their price target on Caterpillar from $480.00 to $513.00 and gave the stock an “outperform” rating in a research report on Monday, September 29th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $466.53.

Caterpillar Trading Down 0.4%

Caterpillar stock opened at $495.80 on Tuesday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. The stock has a 50-day simple moving average of $438.25 and a 200 day simple moving average of $380.18. The stock has a market capitalization of $232.27 billion, a P/E ratio of 25.22, a PEG ratio of 3.03 and a beta of 1.46. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $505.59.

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

Caterpillar Dividend Announcement

The business 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. This represents a $6.04 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s payout ratio is 30.72%.

Insider Buying and Selling at Caterpillar

In related news, insider Jason Kaiser sold 2,161 shares of the company’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $417.70, for a total value of $902,649.70. Following the transaction, the insider owned 8,632 shares in the company, valued at approximately $3,605,586.40. This represents a 20.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the stock in a transaction dated 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 completion of the transaction, the chairman directly owned 482,505 shares in the company, valued at approximately $199,211,839.35. This represents a 3.44% 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 worth $16,885,492 over the last ninety days. Insiders own 0.33% of the company’s stock.

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.