Caterpillar Inc. (NYSE:CAT) Shares Sold by Summit Financial Strategies Inc.

Summit Financial Strategies Inc. decreased its stake in shares of Caterpillar Inc. (NYSE:CAT) by 5.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,878 shares of the industrial products company’s stock after selling 107 shares during the period. Summit Financial Strategies Inc.’s holdings in Caterpillar were worth $735,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of CAT. Greater Midwest Financial Group LLC raised its position in shares of Caterpillar by 2.3% during the 3rd quarter. Greater Midwest Financial Group LLC now owns 5,420 shares of the industrial products company’s stock valued at $2,120,000 after acquiring an additional 122 shares in the last quarter. Hengehold Capital Management LLC raised its holdings in shares of Caterpillar by 7.7% during the third quarter. Hengehold Capital Management LLC now owns 1,115 shares of the industrial products company’s stock worth $436,000 after purchasing an additional 80 shares during the period. Community Bank of Raymore lifted its position in shares of Caterpillar by 1.3% in the 3rd quarter. Community Bank of Raymore now owns 23,353 shares of the industrial products company’s stock worth $9,134,000 after buying an additional 290 shares during the last quarter. Kowal Investment Group LLC boosted its holdings in shares of Caterpillar by 3.0% in the 3rd quarter. Kowal Investment Group LLC now owns 4,351 shares of the industrial products company’s stock valued at $1,702,000 after buying an additional 126 shares during the period. Finally, Cornerstone Wealth Management LLC grew its position in shares of Caterpillar by 3.3% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 3,903 shares of the industrial products company’s stock valued at $1,527,000 after buying an additional 126 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Trading Up 0.0 %

Shares of NYSE:CAT traded up $0.18 during mid-day trading on Thursday, hitting $393.80. The stock had a trading volume of 337,409 shares, compared to its average volume of 2,635,689. Caterpillar Inc. has a 12-month low of $223.76 and a 12-month high of $403.60. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28. The company has a market cap of $192.59 billion, a PE ratio of 17.79, a P/E/G ratio of 1.85 and a beta of 1.10. The company’s 50 day moving average is $361.58 and its 200-day moving average is $349.92.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, beating the consensus estimate of $5.53 by $0.46. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The firm had revenue of $16.69 billion for the quarter, compared to analyst estimates of $16.91 billion. During the same period in the previous year, the firm earned $5.55 earnings per share. Caterpillar’s quarterly revenue was down 3.6% on a year-over-year basis. On average, sell-side analysts predict that Caterpillar Inc. will post 21.91 EPS for the current year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be given a $1.41 dividend. The ex-dividend date is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.43%. Caterpillar’s payout ratio is 25.46%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CAT shares. UBS Group lifted their target price on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research note on Wednesday, August 7th. Citigroup increased their target price on Caterpillar from $380.00 to $445.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Evercore ISI reduced their price target 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. Raymond James assumed coverage on shares of Caterpillar in a research report on Friday, June 28th. They issued a “market perform” rating on the stock. Finally, Barclays upped their target price on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Caterpillar currently has a consensus rating of “Hold” and an average price target of $355.50.

Insider Activity

In other news, Director Gerald Johnson acquired 100 shares of Caterpillar stock in a transaction that occurred on Wednesday, September 4th. The stock was purchased at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the transaction, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Caterpillar news, Director Gerald Johnson purchased 100 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were acquired at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the acquisition, the director now owns 2,842 shares of the company’s stock, valued at $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Cheryl H. Johnson sold 2,975 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the completion of the sale, the insider now owns 15,615 shares of the company’s stock, valued at $5,347,825.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

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.