Stonehage Fleming Financial Services Holdings Ltd Makes New Investment in Caterpillar Inc. $CAT

Stonehage Fleming Financial Services Holdings Ltd purchased a new position in Caterpillar Inc. (NYSE:CAT) in the 2nd quarter, Holdings Channel reports. The firm purchased 3,626 shares of the industrial products company’s stock, valued at approximately $3,861,000.

Other institutional investors also recently modified their holdings of the company. Stonebridge Financial Group LLC grew its position in Caterpillar by 0.7% during the 2nd quarter. Stonebridge Financial Group LLC now owns 1,635 shares of the industrial products company’s stock worth $1,741,000 after purchasing an additional 11 shares during the last quarter. Inspirion Wealth Advisors LLC raised its holdings in shares of Caterpillar by 1.2% in the second quarter. Inspirion Wealth Advisors LLC now owns 944 shares of the industrial products company’s stock worth $936,000 after buying an additional 11 shares during the last quarter. Bell Bank lifted its stake in shares of Caterpillar by 0.6% during the second quarter. Bell Bank now owns 1,865 shares of the industrial products company’s stock worth $1,986,000 after buying an additional 11 shares during the period. Cornerstone Advisory LLC grew its holdings in shares of Caterpillar by 0.7% during the first quarter. Cornerstone Advisory LLC now owns 1,818 shares of the industrial products company’s stock valued at $1,288,000 after buying an additional 12 shares during the last quarter. Finally, Advisory Resource Group increased its position in shares of Caterpillar by 0.8% in the 4th quarter. Advisory Resource Group now owns 1,632 shares of the industrial products company’s stock valued at $935,000 after acquiring an additional 13 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CAT shares. DA Davidson boosted their price target on Caterpillar from $845.00 to $882.00 and gave the company a “neutral” rating in a research note on Thursday, August 6th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $1,002.00 target price on shares of Caterpillar in a report on Wednesday, August 5th. Zacks Research raised shares of Caterpillar from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 12th. Royal Bank Of Canada lifted their price objective on shares of Caterpillar from $877.00 to $897.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 5th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Caterpillar from $1,125.00 to $1,165.00 and gave the company an “overweight” rating in a research report on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $995.52.

Insider Activity at Caterpillar

In related news, CEO Joseph E. Creed sold 32,401 shares of Caterpillar stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $808.98, for a total value of $26,211,760.98. Following the completion of the transaction, the chief executive officer owned 34,555 shares in the company, valued at $27,954,303.90. The trade was a 48.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is owned by company insiders.

Caterpillar Trading Down 0.1%

Caterpillar stock opened at $813.51 on Tuesday. The company has a current ratio of 1.37, a quick ratio of 0.85 and a debt-to-equity ratio of 1.65. The firm has a market cap of $373.95 billion, a PE ratio of 35.00, a P/E/G ratio of 1.41 and a beta of 1.60. The stock’s 50 day simple moving average is $868.12 and its two-hundred day simple moving average is $839.26. Caterpillar Inc. has a 12 month low of $416.44 and a 12 month high of $1,073.46.

Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, August 4th. The industrial products company reported $8.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.22 by $1.95. The firm had revenue of $20.54 billion during the quarter, compared to analysts’ expectations of $19.34 billion. Caterpillar had a net margin of 14.51% and a return on equity of 55.53%. The business’s revenue was up 23.7% compared to the same quarter last year. During the same period in the previous year, the business posted $4.72 EPS. Analysts anticipate that Caterpillar Inc. will post 27.34 earnings per share for the current year.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Monday, July 20th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, July 20th. This is an increase from Caterpillar’s previous quarterly dividend of $1.51. Caterpillar’s dividend payout ratio is currently 28.06%.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.