Family Capital Management Inc. Increases Holdings in Caterpillar Inc. $CAT

Family Capital Management Inc. boosted its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 23.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,008 shares of the industrial products company’s stock after purchasing an additional 192 shares during the period. Family Capital Management Inc.’s holdings in Caterpillar were worth $391,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Brookstone Capital Management increased its holdings in Caterpillar by 10.3% during the 2nd quarter. Brookstone Capital Management now owns 61,428 shares of the industrial products company’s stock valued at $23,847,000 after purchasing an additional 5,717 shares during the period. Phillips Financial Management LLC purchased a new position in Caterpillar during the 2nd quarter valued at about $216,000. Jacobsen Capital Management purchased a new position in shares of Caterpillar during the 2nd quarter worth approximately $323,000. FNY Investment Advisers LLC purchased a new position in shares of Caterpillar during the 2nd quarter worth approximately $124,000. Finally, D.A. Davidson & CO. grew its holdings in shares of Caterpillar by 2.2% during the 2nd quarter. D.A. Davidson & CO. now owns 82,627 shares of the industrial products company’s stock worth $32,077,000 after acquiring an additional 1,771 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Down 1.2%

Shares of CAT stock opened at $524.95 on Wednesday. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $544.99. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. The firm has a market capitalization of $245.93 billion, a PE ratio of 26.70, a PEG ratio of 3.02 and a beta of 1.46. The stock has a fifty day simple moving average of $458.10 and a two-hundred day simple moving average of $394.14.

Caterpillar (NYSE:CAT) last issued its quarterly 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). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The business had revenue of $16.57 billion during the quarter, compared to analysts’ expectations of $16.14 billion. During the same quarter in the previous year, the company posted $5.99 EPS. The company’s quarterly revenue was down .7% on a year-over-year basis. On average, analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s dividend payout ratio is 30.72%.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the transaction, the insider owned 8,632 shares of the company’s stock, valued at $3,605,586.40. This represents a 20.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the stock in a transaction dated 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 transaction, the chairman directly owned 482,505 shares of the company’s stock, valued at $199,211,839.35. This trade represents a 3.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,985 shares of company stock valued at $25,559,300 in the last 90 days. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on CAT. Jefferies Financial Group upped their target price on Caterpillar from $500.00 to $570.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Evercore ISI upgraded Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 target price on the stock in a report on Tuesday, August 19th. Melius upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 target price on the stock in a report on Wednesday, July 9th. Sanford C. Bernstein increased their price target on Caterpillar from $447.00 to $502.00 and gave the company a “market perform” rating in a report on Tuesday, October 14th. Finally, Bank of America increased their price target on Caterpillar from $517.00 to $594.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $515.40.

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.