Franklin Resources Inc. Buys 55,448 Shares of Caterpillar Inc. (NYSE:CAT)

Franklin Resources Inc. boosted its position in shares of Caterpillar Inc. (NYSE:CAT) by 14.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 443,315 shares of the industrial products company’s stock after buying an additional 55,448 shares during the period. Franklin Resources Inc. owned approximately 0.09% of Caterpillar worth $174,644,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CAT. Financial Connections Group Inc. bought a new position in Caterpillar in the second quarter valued at approximately $28,000. Fairscale Capital LLC bought a new position in shares of Caterpillar in the 2nd quarter valued at $36,000. Capital Performance Advisors LLP bought a new stake in shares of Caterpillar during the 3rd quarter worth $36,000. POM Investment Strategies LLC boosted its stake in Caterpillar by 2,160.0% in the second quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock valued at $38,000 after buying an additional 108 shares in the last quarter. Finally, Kimelman & Baird LLC grew its position in Caterpillar by 42.9% in the third quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 30 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

Caterpillar Stock Performance

Shares of CAT opened at $380.51 on Friday. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. The firm’s fifty day simple moving average is $392.29 and its two-hundred day simple moving average is $360.46. Caterpillar Inc. has a 12 month low of $270.55 and a 12 month high of $418.50. The stock has a market capitalization of $183.71 billion, a P/E ratio of 17.64, a price-to-earnings-growth ratio of 1.92 and a beta of 1.10.

Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing the consensus estimate of $5.33 by ($0.16). The business had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.52 EPS. As a group, analysts predict that Caterpillar Inc. will post 21.68 EPS for the current year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be given a dividend of $1.41 per share. The ex-dividend date is Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.48%. Caterpillar’s payout ratio is presently 26.15%.

Insider Buying and Selling

In other Caterpillar news, insider Cheryl H. Johnson sold 2,664 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $378.84, for a total value of $1,009,229.76. Following the transaction, the insider now owns 12,951 shares in the company, valued at approximately $4,906,356.84. This represents a 17.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO William E. Schaupp sold 968 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $380.98, for a total value of $368,788.64. Following the transaction, the chief accounting officer now directly owns 1,686 shares in the company, valued at $642,332.28. The trade was a 36.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,868 shares of company stock valued at $9,679,489 over the last ninety days. 0.29% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CAT shares. StockNews.com upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Tuesday, December 10th. Citigroup boosted their target price on shares of Caterpillar from $435.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Jefferies Financial Group increased their price target on Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. boosted their price objective on Caterpillar from $500.00 to $515.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Finally, Robert W. Baird increased their target price on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $374.69.

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.