Maryland State Retirement & Pension System Has $8.74 Million Position in Caterpillar Inc. $CAT

Maryland State Retirement & Pension System cut its stake in shares of Caterpillar Inc. (NYSE:CAT) by 0.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,509 shares of the industrial products company’s stock after selling 100 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Caterpillar were worth $8,738,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CAT. Compass Financial Services Inc raised its position in shares of Caterpillar by 49.2% in the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 31 shares in the last quarter. Family Legacy Financial Solutions LLC bought a new position in shares of Caterpillar in the 2nd quarter worth about $32,000. Redmont Wealth Advisors LLC bought a new position in shares of Caterpillar in the 1st quarter worth about $33,000. Fiduciary Wealth Partners LLC bought a new position in shares of Caterpillar in the 1st quarter worth about $45,000. Finally, Maseco LLP bought a new position in shares of Caterpillar in the 2nd quarter worth about $45,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Price Performance

Shares of NYSE CAT opened at $502.08 on Thursday. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $509.48. The stock’s 50 day moving average price is $440.73 and its 200-day moving average price is $381.76. The company has a market capitalization of $235.21 billion, a PE ratio of 25.54, a PEG ratio of 2.96 and a beta of 1.46. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50.

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

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s payout ratio is 30.72%.

Insider Activity at Caterpillar

In related news, Director Susan C. Schwab sold 2,324 shares of the company’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the transaction, the director owned 6,917 shares in the company, valued at approximately $2,835,970. This represents a 25.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chairman owned 482,505 shares in the company, valued at approximately $199,211,839.35. The trade was a 3.44% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,819 shares of company stock worth $16,885,492. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Erste Group Bank raised Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Robert W. Baird boosted their target price on Caterpillar from $495.00 to $540.00 and gave the company an “outperform” rating in a research report on Wednesday, September 17th. 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. Citigroup boosted their target price on Caterpillar from $540.00 to $570.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, DA Davidson boosted their target price on Caterpillar from $331.00 to $388.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Two equities research 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 company. Based on data from MarketBeat.com, Caterpillar currently has a consensus rating of “Moderate Buy” and a consensus target price of $473.53.

Caterpillar Company 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.