MV Capital Management Inc. Sells 233 Shares of Caterpillar Inc. $CAT

MV Capital Management Inc. lowered its stake in shares of Caterpillar Inc. (NYSE:CAT) by 2.0% during the second quarter, HoldingsChannel reports. The institutional investor owned 11,470 shares of the industrial products company’s stock after selling 233 shares during the quarter. MV Capital Management Inc.’s holdings in Caterpillar were worth $4,453,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC increased its position in shares of Caterpillar by 36,842.1% in the second quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock worth $2,833,836,000 after purchasing an additional 7,279,991 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Caterpillar by 6.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,204,445 shares of the industrial products company’s stock worth $1,386,626,000 after buying an additional 264,054 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Caterpillar by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company’s stock valued at $1,089,798,000 after buying an additional 15,347 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Caterpillar by 9.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company’s stock valued at $1,064,951,000 after buying an additional 268,300 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Caterpillar by 5.0% during the 1st quarter. Invesco Ltd. now owns 3,141,936 shares of the industrial products company’s stock worth $1,036,211,000 after acquiring an additional 150,533 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO William E. Schaupp sold 1,200 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $572.22, for a total value of $686,664.00. Following the completion of the sale, the chief accounting officer directly owned 1,323 shares in the company, valued at $757,047.06. This represents a 47.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,166 shares of the firm’s stock in a transaction on Friday, October 10th. The stock was sold at an average price of $505.29, for a total value of $8,673,808.14. Following the transaction, the chairman directly owned 448,173 shares of the company’s stock, valued at approximately $226,457,335.17. This represents a 3.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 77,846 shares of company stock valued at $38,241,493 over the last quarter. 0.33% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have commented on CAT shares. Robert W. Baird boosted their price objective on shares of Caterpillar from $612.00 to $680.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. HSBC upgraded Caterpillar from a “hold” rating to a “buy” rating and lifted their price target for the company from $405.00 to $660.00 in a research note on Wednesday, November 5th. Sanford C. Bernstein restated a “market perform” rating on shares of Caterpillar in a research report on Wednesday, November 5th. UBS Group lifted their target price on Caterpillar from $506.00 to $581.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. Finally, Evercore ISI raised shares of Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 target price for the company in a report on Tuesday, August 19th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Caterpillar presently has a consensus rating of “Moderate Buy” and a consensus price target of $596.59.

Caterpillar Stock Performance

Shares of CAT stock opened at $573.22 on Thursday. The firm has a market capitalization of $268.25 billion, a price-to-earnings ratio of 29.43, a PEG ratio of 3.33 and a beta of 1.51. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 1.34. The business’s 50-day moving average price is $501.01 and its 200-day moving average price is $424.34. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $596.21.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.52 by $0.43. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The company had revenue of $17.64 billion during the quarter, compared to the consensus estimate of $16.72 billion. During the same quarter in the prior year, the firm posted $5.17 earnings per share. The firm’s revenue was up 9.5% compared to the same quarter last year. Equities research analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Monday, October 20th. Caterpillar’s payout ratio is 31.01%.

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.