M1 Capital Management LLC Has $466,000 Position in Caterpillar Inc. $CAT

M1 Capital Management LLC lowered its stake in Caterpillar Inc. (NYSE:CAT) by 11.8% in the second quarter, HoldingsChannel.com reports. The firm owned 1,200 shares of the industrial products company’s stock after selling 161 shares during the quarter. M1 Capital Management LLC’s holdings in Caterpillar were worth $466,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Compass Financial Services Inc increased its holdings in shares of Caterpillar by 49.2% in the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 31 shares in the last quarter. Family Legacy Financial Solutions LLC acquired a new stake in shares of Caterpillar in the second quarter valued at approximately $32,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Caterpillar in the first quarter valued at approximately $33,000. Total Wealth Planning & Management Inc. bought a new position in Caterpillar in the second quarter valued at approximately $38,000. Finally, Fiduciary Wealth Partners LLC bought a new position in Caterpillar in the first quarter valued at approximately $45,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analyst Ratings Changes

CAT has been the topic of a number of recent research reports. Jefferies Financial Group raised their price objective on shares of Caterpillar from $500.00 to $570.00 and gave the company a “buy” rating in a research note on Wednesday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Caterpillar in a research note on Saturday, September 27th. Evercore ISI raised shares of Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price objective on the stock in a research note on Tuesday, August 19th. Melius raised shares of Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price objective on the stock in a research note on Wednesday, July 9th. Finally, Bank of America lifted their price target on shares of Caterpillar from $495.00 to $517.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Caterpillar presently has an average rating of “Moderate Buy” and a consensus price target of $478.20.

Insider Transactions at Caterpillar

In related 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 transaction, the chairman owned 482,505 shares in the company, valued at approximately $199,211,839.35. This represents a 3.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jason Kaiser sold 2,161 shares of the business’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the sale, the insider directly owned 8,632 shares of the company’s stock, valued at $3,605,586.40. This represents a 20.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,819 shares of company stock worth $16,885,492 in the last ninety days. Insiders own 0.33% of the company’s stock.

Caterpillar Trading Down 0.4%

Shares of NYSE:CAT opened at $500.10 on Friday. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $509.48. 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 company’s fifty day simple moving average is $441.97 and its 200 day simple moving average is $382.85. The firm has a market cap of $234.29 billion, a price-to-earnings ratio of 25.44, a PEG ratio of 3.05 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 EPS for the quarter, missing analysts’ consensus estimates of $4.88 by ($0.16). The company had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The company’s revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.99 earnings per share. As a group, research analysts forecast 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 paid 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 payout ratio is currently 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.