Advisors Management Group Inc. ADV Cuts Stock Position in Caterpillar Inc. (NYSE:CAT)

Advisors Management Group Inc. ADV decreased its stake in Caterpillar Inc. (NYSE:CAT) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,592 shares of the industrial products company’s stock after selling 76 shares during the period. Advisors Management Group Inc. ADV’s holdings in Caterpillar were worth $2,187,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CAT. Bbjs Financial Advisors LLC purchased a new stake in shares of Caterpillar during the 2nd quarter valued at approximately $28,000. Financial Connections Group Inc. purchased a new position in shares of Caterpillar during the 2nd quarter valued at $28,000. Fairscale Capital LLC bought a new stake in Caterpillar during the second quarter valued at approximately $36,000. POM Investment Strategies LLC grew its stake in Caterpillar by 2,160.0% in the 2nd quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock worth $38,000 after buying an additional 108 shares in the last quarter. Finally, TruNorth Capital Management LLC raised its position in shares of Caterpillar by 215.4% during the 2nd quarter. TruNorth Capital Management LLC now owns 123 shares of the industrial products company’s stock valued at $41,000 after buying an additional 84 shares in the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Stock Up 8.8 %

Shares of NYSE:CAT opened at $416.97 on Thursday. Caterpillar Inc. has a 12-month low of $233.57 and a 12-month high of $418.30. The stock has a market capitalization of $202.19 billion, a price-to-earnings ratio of 19.33, a PEG ratio of 1.86 and a beta of 1.10. The stock has a fifty day simple moving average of $374.93 and a two-hundred day simple moving average of $352.11. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The firm had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.52 EPS. On average, research analysts anticipate that Caterpillar Inc. will post 21.82 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently disclosed 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 yield of 1.35%. Caterpillar’s payout ratio is currently 26.15%.

Insider Buying and Selling at Caterpillar

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 directly owns 15,615 shares of the company’s stock, valued at $5,347,825.20. 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 through the SEC website. In other news, Director Gerald Johnson bought 100 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were bought at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the purchase, the director now owns 2,842 shares in the company, valued at $962,272.78. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total value of $1,018,878.00. Following the completion of the sale, the insider now owns 15,615 shares of the company’s stock, valued at $5,347,825.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,792 shares of company stock worth $3,515,978. Insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

CAT has been the subject of several research reports. Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $349.00 to $332.00 in a research report on Monday, October 14th. Robert W. Baird upped their price objective on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. Barclays boosted their target price on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Evercore ISI cut their target price on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Finally, UBS Group boosted their price objective on shares of Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a report on Monday. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $358.19.

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.