Flagship Harbor Advisors LLC Sells 109 Shares of Caterpillar Inc. $CAT

Flagship Harbor Advisors LLC cut its stake in shares of Caterpillar Inc. (NYSE:CAT) by 2.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,249 shares of the industrial products company’s stock after selling 109 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Caterpillar were worth $1,649,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Valeo Financial Advisors LLC increased its holdings in Caterpillar by 36,842.1% in the 2nd quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock worth $2,833,836,000 after buying an additional 7,279,991 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Caterpillar by 6.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,204,445 shares of the industrial products company’s stock valued at $1,386,626,000 after purchasing an additional 264,054 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Caterpillar by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company’s stock valued at $1,089,798,000 after purchasing an additional 15,347 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Caterpillar by 9.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company’s stock valued at $1,064,951,000 after buying an additional 268,300 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Caterpillar by 5.0% during the 1st quarter. Invesco Ltd. now owns 3,141,936 shares of the industrial products company’s stock valued at $1,036,211,000 after buying an additional 150,533 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CAT has been the topic of a number of analyst reports. Barclays lifted their price objective on Caterpillar from $425.00 to $485.00 and gave the company an “equal weight” rating in a research report on Friday, October 17th. Erste Group Bank raised Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Melius raised Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price objective on the stock in a report on Wednesday, July 9th. Bank of America boosted their target price on Caterpillar from $517.00 to $594.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Finally, Royal Bank Of Canada began coverage on Caterpillar in a research report on Wednesday, October 22nd. They set a “sector perform” rating and a $560.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $518.19.

Insider Buying and Selling at Caterpillar

In other news, Director Susan C. Schwab sold 2,324 shares of the firm’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the completion of the transaction, the director directly owned 6,917 shares in the company, valued at $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jason Kaiser sold 2,161 shares of the firm’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of the transaction, the insider owned 8,632 shares of the company’s stock, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 55,985 shares of company stock worth $25,559,300. 0.33% of the stock is owned by insiders.

Caterpillar Price Performance

CAT opened at $586.77 on Thursday. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $596.21. The business’s fifty day simple moving average is $472.25 and its 200-day simple moving average is $405.20. The company has a market capitalization of $274.89 billion, a price-to-earnings ratio of 29.85, a PEG ratio of 2.99 and a beta of 1.46. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share for the quarter, beating analysts’ consensus estimates of $4.52 by $0.43. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The company had revenue of $17.64 billion for the quarter, compared to the consensus estimate of $16.72 billion. During the same quarter last year, the company earned $5.17 earnings per share. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, equities research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be paid a $1.51 dividend. The ex-dividend date is Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a yield of 1.0%. Caterpillar’s dividend payout ratio (DPR) is 30.72%.

Caterpillar Profile

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.