Financial Partners Group Inc Boosts Stake in Caterpillar Inc. (NYSE:CAT)

Financial Partners Group Inc boosted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 3.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,515 shares of the industrial products company’s stock after purchasing an additional 53 shares during the period. Financial Partners Group Inc’s holdings in Caterpillar were worth $505,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Private Trust Co. NA boosted its position in shares of Caterpillar by 0.3% in the first quarter. Private Trust Co. NA now owns 10,695 shares of the industrial products company’s stock worth $3,919,000 after purchasing an additional 30 shares during the period. Southland Equity Partners LLC boosted its holdings in Caterpillar by 4.0% in the 1st quarter. Southland Equity Partners LLC now owns 784 shares of the industrial products company’s stock worth $287,000 after buying an additional 30 shares during the period. Davis Investment Partners LLC increased its stake in Caterpillar by 2.1% in the 1st quarter. Davis Investment Partners LLC now owns 1,454 shares of the industrial products company’s stock worth $541,000 after buying an additional 30 shares in the last quarter. Hilltop National Bank raised its holdings in Caterpillar by 1.2% during the second quarter. Hilltop National Bank now owns 2,636 shares of the industrial products company’s stock valued at $878,000 after acquiring an additional 31 shares during the period. Finally, Exchange Capital Management Inc. boosted its stake in shares of Caterpillar by 3.3% in the first quarter. Exchange Capital Management Inc. now owns 1,016 shares of the industrial products company’s stock worth $372,000 after acquiring an additional 32 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Down 0.6 %

CAT stock traded down $2.16 during mid-day trading on Friday, reaching $343.48. 2,483,755 shares of the stock traded hands, compared to its average volume of 2,730,877. The business has a 50-day moving average price of $334.48 and a two-hundred day moving average price of $340.83. The stock has a market capitalization of $167.98 billion, a PE ratio of 15.51, a PEG ratio of 1.72 and a beta of 1.12. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.83 and a current ratio of 1.35. Caterpillar Inc. has a one year low of $223.76 and a one year high of $382.01.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, beating the consensus estimate of $5.53 by $0.46. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. The company had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $16.91 billion. During the same period in the prior year, the firm posted $5.55 EPS. The firm’s revenue was down 3.6% compared to the same quarter last year. Equities research analysts expect that Caterpillar Inc. will post 21.57 EPS for the current year.

Caterpillar Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd will be given a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend is Monday, July 22nd. This is an increase from Caterpillar’s previous quarterly dividend of $1.30. Caterpillar’s dividend payout ratio is 25.46%.

Caterpillar announced that its board has authorized a share 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 repurchase up to 12.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

CAT has been the topic of several recent analyst reports. HSBC lifted their target price on Caterpillar from $330.00 to $360.00 and gave the company a “hold” rating in a research note on Tuesday, April 30th. Stifel Nicolaus downgraded shares of Caterpillar from a “buy” rating to a “hold” rating and boosted their target price for the stock from $293.00 to $350.00 in a report on Friday, April 26th. Citigroup initiated coverage on shares of Caterpillar in a research note on Wednesday, June 26th. They set a “buy” rating and a $380.00 target price for the company. TD Cowen boosted their price target on shares of Caterpillar from $338.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, UBS Group lifted their target price on Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $337.38.

Insiders Place Their Bets

In other Caterpillar news, insider Cheryl H. Johnson sold 1,508 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total value of $527,800.00. Following the completion of the sale, the insider now directly owns 18,515 shares of the company’s stock, valued at approximately $6,480,250. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.33% of the company’s stock.

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.