Caterpillar Inc. (NYSE:CAT) Shares Sold by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC decreased its holdings in Caterpillar Inc. (NYSE:CAT) by 14.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,311 shares of the industrial products company’s stock after selling 219 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Caterpillar were worth $480,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Alexander Labrunerie & CO. Inc. purchased a new position in shares of Caterpillar in the 1st quarter worth $1,243,000. Cetera Advisors LLC raised its holdings in shares of Caterpillar by 68.8% in the 1st quarter. Cetera Advisors LLC now owns 94,401 shares of the industrial products company’s stock worth $34,591,000 after purchasing an additional 38,471 shares during the period. PGGM Investments lifted its stake in shares of Caterpillar by 5.5% in the 1st quarter. PGGM Investments now owns 57,832 shares of the industrial products company’s stock valued at $21,191,000 after purchasing an additional 3,007 shares in the last quarter. FSA Advisors Inc. increased its position in Caterpillar by 8.9% during the 1st quarter. FSA Advisors Inc. now owns 1,260 shares of the industrial products company’s stock worth $462,000 after purchasing an additional 103 shares in the last quarter. Finally, Orleans Capital Management Corp LA raised its holdings in Caterpillar by 11.8% in the first quarter. Orleans Capital Management Corp LA now owns 7,363 shares of the industrial products company’s stock valued at $2,698,000 after buying an additional 778 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Oppenheimer reissued a “market perform” rating on shares of Caterpillar in a research note on Thursday, April 18th. StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a research note on Friday. Raymond James initiated coverage on Caterpillar in a report on Friday, June 28th. They set a “market perform” rating on the stock. TD Cowen upped their price target on Caterpillar from $338.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Finally, HSBC lifted their price objective on shares of Caterpillar from $330.00 to $360.00 and gave the company a “hold” rating in a research note on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $335.00.

Caterpillar Stock Performance

CAT traded down $10.65 during trading hours on Friday, hitting $320.87. 4,246,740 shares of the stock were exchanged, compared to its average volume of 2,804,071. 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 12 month low of $223.76 and a 12 month high of $382.01. The stock has a 50-day simple moving average of $334.71 and a 200-day simple moving average of $337.24. The stock has a market cap of $156.92 billion, a price-to-earnings ratio of 14.49, a price-to-earnings-growth ratio of 1.72 and a beta of 1.12.

Caterpillar Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd will be issued a $1.41 dividend. The ex-dividend date is Monday, July 22nd. This is a positive change from Caterpillar’s previous quarterly dividend of $1.30. This represents a $5.64 annualized dividend and a dividend yield of 1.76%. Caterpillar’s payout ratio is 25.46%.

Caterpillar declared that its board has initiated a stock buyback program on Wednesday, June 12th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the industrial products company to buy up to 12.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Lange Bob De sold 21,847 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $356.90, for a total value of $7,797,194.30. Following the sale, the insider now owns 71,115 shares of the company’s stock, valued at approximately $25,380,943.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Caterpillar news, insider Cheryl H. Johnson sold 1,508 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total value of $527,800.00. Following the sale, the insider now owns 18,515 shares in the company, valued at $6,480,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lange Bob De sold 21,847 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $356.90, for a total value of $7,797,194.30. Following the completion of the transaction, the insider now directly owns 71,115 shares of the company’s stock, valued at $25,380,943.50. The disclosure for this sale can be found here. Insiders have sold a total of 24,863 shares of company stock worth $8,837,714 over the last quarter. 0.33% of the stock is owned by company insiders.

About Caterpillar

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.