KFA Private Wealth Group LLC Sells 61 Shares of Caterpillar Inc. $CAT

KFA Private Wealth Group LLC cut its position in Caterpillar Inc. (NYSE:CAT) by 2.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,155 shares of the industrial products company’s stock after selling 61 shares during the quarter. KFA Private Wealth Group LLC’s holdings in Caterpillar were worth $837,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CAT. Valeo Financial Advisors LLC raised its position 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 valued at $2,833,836,000 after purchasing an additional 7,279,991 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in 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 acquiring an additional 264,054 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in 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 acquiring an additional 15,347 shares during the period. Goldman Sachs Group Inc. raised its holdings in 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 acquiring an additional 268,300 shares during the period. Finally, Invesco Ltd. raised its stake 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 purchasing an additional 150,533 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Susan C. Schwab sold 2,324 shares of the 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 transaction, the director directly owned 6,917 shares in the company, valued at approximately $2,835,970. This represents a 25.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $902,649.70. Following the transaction, the insider owned 8,632 shares in the company, valued at $3,605,586.40. The trade was a 20.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,819 shares of company stock worth $16,885,492. 0.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CAT has been the topic of a number of analyst reports. Erste Group Bank upgraded Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Caterpillar in a research report on Saturday, September 27th. Bank of America upped their target price on shares of Caterpillar from $495.00 to $517.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Caterpillar in a report on Monday, July 14th. Finally, JPMorgan Chase & Co. upped their target price on shares of Caterpillar from $475.00 to $520.00 and gave the stock an “overweight” rating in a report on Wednesday, August 6th. 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 company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $478.20.

Caterpillar Stock Down 1.7%

CAT stock opened at $491.67 on Friday. The company’s 50 day moving average is $443.23 and its 200 day moving average is $383.88. The stock has a market cap of $230.34 billion, a price-to-earnings ratio of 25.01, a price-to-earnings-growth ratio of 3.04 and a beta of 1.46. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $511.50. 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 results on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing analysts’ consensus estimates of $4.88 by ($0.16). The company 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 quarterly revenue was down .7% on a year-over-year basis. During the same period in the previous year, the company earned $5.99 EPS. Sell-side analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

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

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.