Graypoint LLC Has $3.53 Million Stock Position in Caterpillar Inc. (NYSE:CAT)

Graypoint LLC lessened its stake in Caterpillar Inc. (NYSE:CAT) by 6.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,590 shares of the industrial products company’s stock after selling 703 shares during the quarter. Graypoint LLC’s holdings in Caterpillar were worth $3,527,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Van ECK Associates Corp raised its position in shares of Caterpillar by 13.9% during the second quarter. Van ECK Associates Corp now owns 91,435 shares of the industrial products company’s stock worth $30,457,000 after acquiring an additional 11,157 shares during the last quarter. Ingalls & Snyder LLC raised its holdings in Caterpillar by 4.3% during the 2nd quarter. Ingalls & Snyder LLC now owns 4,845 shares of the industrial products company’s stock worth $1,614,000 after purchasing an additional 200 shares during the last quarter. Wealth Alliance Advisory Group LLC lifted its position in Caterpillar by 45.1% during the 2nd quarter. Wealth Alliance Advisory Group LLC now owns 3,935 shares of the industrial products company’s stock valued at $1,311,000 after purchasing an additional 1,223 shares during the period. IFG Advisory LLC bought a new position in shares of Caterpillar in the 2nd quarter valued at about $979,000. Finally, Baltimore Washington Financial Advisors Inc. acquired a new stake in shares of Caterpillar during the 2nd quarter worth approximately $201,000. 70.98% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on CAT. Bank of America reduced their price objective on shares of Caterpillar from $385.00 to $376.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. UBS Group lifted their price objective on Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a research note on Wednesday, August 7th. Raymond James assumed coverage on Caterpillar in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. Evercore ISI decreased their target price on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Finally, StockNews.com raised shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Saturday, August 10th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $336.31.

Caterpillar Stock Up 1.3 %

Shares of CAT traded up $4.46 during mid-day trading on Friday, hitting $356.10. 2,974,052 shares of the company’s stock were exchanged, compared to its average volume of 2,679,620. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.35 and a quick ratio of 0.83. Caterpillar Inc. has a 52 week low of $223.76 and a 52 week high of $382.01. The company has a market cap of $174.15 billion, a PE ratio of 16.08, a P/E/G ratio of 1.72 and a beta of 1.12. The company has a 50-day simple moving average of $338.84 and a 200 day simple moving average of $342.55.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.53 by $0.46. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. The firm had revenue of $16.69 billion for the quarter, compared to analyst estimates of $16.91 billion. During the same period in the previous year, the business earned $5.55 EPS. The company’s revenue was down 3.6% compared to the same quarter last year. On average, research analysts forecast that Caterpillar Inc. will post 21.57 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd were paid a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.58%. This is an increase from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date was Monday, July 22nd. Caterpillar’s dividend payout ratio (DPR) is currently 25.46%.

Caterpillar announced that its Board of Directors has initiated a stock buyback program on Wednesday, June 12th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the industrial products company to repurchase up to 12.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total value of $1,018,878.00. Following the completion of the transaction, the insider now directly owns 15,615 shares of the company’s stock, valued at $5,347,825.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Cheryl H. Johnson sold 1,508 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $350.00, for a total value of $527,800.00. Following the completion of the sale, the insider now directly owns 18,515 shares of the company’s stock, valued at $6,480,250. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total value of $1,018,878.00. Following the sale, the insider now directly owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

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.