Ashton Thomas Private Wealth LLC Reduces Stock Position in Caterpillar Inc. (NYSE:CAT)

Ashton Thomas Private Wealth LLC trimmed its holdings in Caterpillar Inc. (NYSE:CAT) by 5.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,616 shares of the industrial products company’s stock after selling 459 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Caterpillar were worth $2,537,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Acadian Asset Management LLC grew its stake in Caterpillar by 17.2% during the first quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock valued at $3,308,000 after acquiring an additional 1,327 shares in the last quarter. Diversify Advisory Services LLC bought a new position in shares of Caterpillar in the first quarter worth $926,000. Natixis Advisors LLC raised its position in shares of Caterpillar by 3.5% in the second quarter. Natixis Advisors LLC now owns 278,259 shares of the industrial products company’s stock worth $92,688,000 after buying an additional 9,321 shares in the last quarter. Bailard Inc. boosted its stake in Caterpillar by 3.1% during the second quarter. Bailard Inc. now owns 13,435 shares of the industrial products company’s stock valued at $4,475,000 after buying an additional 398 shares during the period. Finally, Aigen Investment Management LP purchased a new position in Caterpillar during the fourth quarter worth about $222,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Activity

In related news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction on Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the sale, the insider now owns 33,442 shares in the company, valued at $11,750,181.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total value of $1,018,878.00. Following the sale, the insider now directly owns 15,615 shares in the company, valued at $5,347,825.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,668 shares of company stock valued at $2,665,760. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Bank of America lowered their price target on Caterpillar from $385.00 to $376.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Barclays lifted their target price on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. UBS Group increased their price target on shares of Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a report on Wednesday, August 7th. Evercore ISI dropped their price objective on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Finally, Citigroup started coverage on Caterpillar in a research report on Wednesday, June 26th. They set a “buy” rating and a $380.00 price target on the stock. Two analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Caterpillar currently has an average rating of “Hold” and a consensus price target of $336.31.

Caterpillar Stock Up 1.4 %

Shares of NYSE CAT opened at $334.04 on Tuesday. The firm’s fifty day moving average is $339.96 and its 200 day moving average is $343.71. Caterpillar Inc. has a 52 week low of $223.76 and a 52 week high of $382.01. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39. The company has a market cap of $161.98 billion, a price-to-earnings ratio of 15.08, a PEG ratio of 1.54 and a beta of 1.10.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. The firm had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.55 earnings per share. On average, equities research analysts expect that Caterpillar Inc. will post 21.87 earnings per share for the current year.

Caterpillar declared that its Board of Directors has approved a stock repurchase plan on Wednesday, June 12th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the industrial products company to reacquire up to 12.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Caterpillar Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd were issued a $1.41 dividend. The ex-dividend date was Monday, July 22nd. This represents a $5.64 annualized dividend and a yield of 1.69%. This is a boost from Caterpillar’s previous quarterly dividend of $1.30. Caterpillar’s dividend payout ratio (DPR) is 25.46%.

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.