Caterpillar Inc. (NYSE:CAT) Shares Sold by FLC Capital Advisors

FLC Capital Advisors cut its stake in Caterpillar Inc. (NYSE:CAT) by 9.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,297 shares of the industrial products company’s stock after selling 735 shares during the quarter. FLC Capital Advisors’ holdings in Caterpillar were worth $2,854,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Thompson Investment Management Inc. purchased a new stake in shares of Caterpillar during the first quarter worth $27,000. Bbjs Financial Advisors LLC acquired a new stake in shares of Caterpillar during the second quarter worth about $28,000. Financial Connections Group Inc. purchased a new stake in Caterpillar in the second quarter valued at approximately $28,000. Fairman Group LLC acquired a new stake in Caterpillar during the 1st quarter worth $29,000. Finally, Fairscale Capital LLC purchased a new position in shares of Caterpillar during the second quarter worth about $36,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CAT has been the topic of a number of recent analyst reports. Evercore ISI dropped their price target on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. JPMorgan Chase & Co. raised their price objective on shares of Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research note on Monday. Barclays raised their price target on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. UBS Group upped their price target on shares of Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a research report on Wednesday, August 7th. Finally, Raymond James started coverage on Caterpillar in a report on Friday, June 28th. They set a “market perform” rating for the company. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Caterpillar presently has an average rating of “Hold” and an average target price of $355.50.

Insider Activity

In other news, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the sale, the insider now owns 33,442 shares in the company, valued at $11,750,181.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Cheryl H. Johnson sold 2,975 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the transaction, the insider now owns 15,615 shares of the company’s stock, valued at $5,347,825.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the transaction, the insider now owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Price Performance

CAT stock opened at $393.66 on Thursday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78. The stock has a market cap of $192.52 billion, a price-to-earnings ratio of 17.77, a P/E/G ratio of 1.85 and a beta of 1.10. Caterpillar Inc. has a 1 year low of $223.76 and a 1 year high of $403.60. The company has a 50 day simple moving average of $361.58 and a 200 day simple moving average of $349.92.

Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, beating the consensus estimate of $5.53 by $0.46. The business had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The firm’s revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the business posted $5.55 earnings per share. Research analysts anticipate that Caterpillar Inc. will post 21.91 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be issued a $1.41 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.43%. Caterpillar’s dividend payout ratio is presently 25.46%.

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.