Caterpillar Inc. $CAT Stock Holdings Decreased by Gables Capital Management Inc.

Gables Capital Management Inc. reduced its position in Caterpillar Inc. (NYSE:CAT) by 5.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,680 shares of the industrial products company’s stock after selling 435 shares during the period. Caterpillar comprises approximately 1.4% of Gables Capital Management Inc.’s holdings, making the stock its 18th largest position. Gables Capital Management Inc.’s holdings in Caterpillar were worth $2,981,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Caterpillar in the second quarter worth approximately $28,000. Compass Financial Services Inc increased its position in shares of Caterpillar by 49.2% in the first 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 purchased a new position in shares of Caterpillar in the second quarter worth approximately $32,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Caterpillar during the first quarter worth approximately $33,000. Finally, Harbor Asset Planning Inc. acquired a new stake in shares of Caterpillar during the second quarter worth approximately $34,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Susan C. Schwab sold 2,324 shares of Caterpillar stock in a transaction that occurred on Friday, August 15th. The shares were 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 of the company’s stock, valued at $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,168 shares of Caterpillar stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the completion of the transaction, the chairman directly owned 482,505 shares in the company, valued at approximately $199,211,839.35. This represents a 3.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,985 shares of company stock valued at $25,559,300 over the last 90 days. 0.33% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Melius Research upgraded shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price target for the company in a report on Wednesday, July 9th. Evercore ISI upgraded shares of Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price target for the company in a report on Tuesday, August 19th. Barclays raised their price target on shares of Caterpillar from $425.00 to $485.00 and gave the stock an “equal weight” rating in a report on Friday, October 17th. UBS Group raised their price target on shares of Caterpillar from $450.00 to $506.00 and gave the stock a “neutral” rating in a report on Monday, October 13th. Finally, Melius upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price target for the company in a report on Wednesday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $515.40.

Caterpillar Price Performance

NYSE CAT opened at $524.95 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $245.93 billion, a PE ratio of 26.70, a price-to-earnings-growth ratio of 3.02 and a beta of 1.46. The company has a 50 day moving average price of $458.10 and a two-hundred day moving average price of $394.14. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $544.99.

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

Caterpillar Announces Dividend

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

Caterpillar 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.