Hager Investment Management Services LLC Trims Stock Holdings in Caterpillar Inc. $CAT

Hager Investment Management Services LLC decreased its holdings in Caterpillar Inc. (NYSE:CAT) by 0.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,608 shares of the industrial products company’s stock after selling 36 shares during the period. Caterpillar accounts for about 1.3% of Hager Investment Management Services LLC’s holdings, making the stock its 28th biggest position. Hager Investment Management Services LLC’s holdings in Caterpillar were worth $2,177,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Valeo Financial Advisors LLC increased its stake in shares of Caterpillar by 36,842.1% in the second quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock worth $2,833,836,000 after purchasing an additional 7,279,991 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Caterpillar by 6.7% in the first 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 worth $1,386,626,000 after purchasing an additional 264,054 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Caterpillar by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company’s stock worth $1,089,798,000 after purchasing an additional 15,347 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Caterpillar by 9.1% during the first 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 acquiring an additional 268,300 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Caterpillar by 5.0% during the first quarter. Invesco Ltd. now owns 3,141,936 shares of the industrial products company’s stock valued at $1,036,211,000 after acquiring an additional 150,533 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Evercore ISI raised shares of Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price objective for the company in a research note on Tuesday, August 19th. Melius Research raised shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price objective for the company in a research note on Wednesday, July 9th. DA Davidson boosted their price objective on shares of Caterpillar from $331.00 to $388.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Sanford C. Bernstein reissued a “market perform” rating on shares of Caterpillar in a research note on Monday, July 14th. Finally, Erste Group Bank raised shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $473.53.

Caterpillar Stock Up 3.2%

Shares of NYSE CAT opened at $502.08 on Thursday. 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 Inc. has a 12 month low of $267.30 and a 12 month high of $509.48. The firm has a market capitalization of $235.21 billion, a PE ratio of 25.54, a price-to-earnings-growth ratio of 2.96 and a beta of 1.46. The firm has a fifty day simple moving average of $440.73 and a two-hundred day simple moving average of $381.76.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing the consensus estimate of $4.88 by ($0.16). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The company had revenue of $16.57 billion during the quarter, compared to the consensus estimate of $16.14 billion. During the same quarter last year, the company posted $5.99 earnings per share. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. Equities 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 issued a $1.51 dividend. The ex-dividend date is Monday, October 20th. This represents a $6.04 annualized dividend and a yield of 1.2%. Caterpillar’s dividend payout ratio is 30.72%.

Insiders Place Their Bets

In other news, Chairman Donald J. Umpleby III sold 17,168 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total value of $7,088,152.16. Following the sale, the chairman directly owned 482,505 shares of the company’s stock, valued at $199,211,839.35. This represents a 3.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan C. Schwab sold 2,324 shares of the company’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the sale, the director directly owned 6,917 shares in the company, valued at $2,835,970. This represents a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,819 shares of company stock worth $16,885,492. 0.33% of the stock is currently owned by corporate insiders.

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.