Hanson & Doremus Investment Management decreased its position in Caterpillar Inc. (NYSE:CAT) by 1.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,668 shares of the industrial products company’s stock after selling 134 shares during the quarter. Hanson & Doremus Investment Management’s holdings in Caterpillar were worth $1,726,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Morgan Stanley lifted its holdings in Caterpillar by 4.2% in the second quarter. Morgan Stanley now owns 4,367,073 shares of the industrial products company’s stock valued at $595,189,000 after acquiring an additional 174,165 shares during the period. Manning & Napier Group LLC lifted its position in Caterpillar by 30.4% during the 2nd quarter. Manning & Napier Group LLC now owns 152,404 shares of the industrial products company’s stock worth $20,770,000 after acquiring an additional 35,530 shares in the last quarter. Atalanta Sosnoff Capital LLC lifted its position in Caterpillar by 3.6% during the 2nd quarter. Atalanta Sosnoff Capital LLC now owns 3,487 shares of the industrial products company’s stock worth $475,000 after acquiring an additional 120 shares in the last quarter. Krueger & Catalano Capital Partners LLC lifted its position in Caterpillar by 6.4% during the 2nd quarter. Krueger & Catalano Capital Partners LLC now owns 4,892 shares of the industrial products company’s stock worth $667,000 after acquiring an additional 293 shares in the last quarter. Finally, Cahill Financial Advisors Inc. raised its position in shares of Caterpillar by 2.7% in the 2nd quarter. Cahill Financial Advisors Inc. now owns 8,240 shares of the industrial products company’s stock valued at $1,124,000 after purchasing an additional 218 shares in the last quarter. 65.74% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Caterpillar stock traded up $1.15 during trading on Friday, hitting $148.16. The stock had a trading volume of 2,714,785 shares, compared to its average volume of 4,321,513. Caterpillar Inc. has a fifty-two week low of $111.75 and a fifty-two week high of $148.40. The firm has a market cap of $80.89 billion, a P/E ratio of 13.20, a PEG ratio of 1.54 and a beta of 1.53. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.44 and a quick ratio of 0.99. The business has a fifty day moving average of $131.66 and a two-hundred day moving average of $129.08.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend is Friday, October 18th. Caterpillar’s dividend payout ratio is 36.72%.
In related news, CAO Gary Michael Marvel sold 2,180 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $139.38, for a total value of $303,848.40. Following the completion of the sale, the chief accounting officer now directly owns 2,180 shares of the company’s stock, valued at approximately $303,848.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Suzette M. Long sold 5,019 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $126.34, for a total value of $634,100.46. Following the completion of the sale, the general counsel now directly owns 12,569 shares of the company’s stock, valued at $1,587,967.46. The disclosure for this sale can be found here. Over the last three months, insiders sold 95,141 shares of company stock valued at $13,717,142. Company insiders own 0.37% of the company’s stock.
CAT has been the topic of a number of recent analyst reports. Stephens initiated coverage on Caterpillar in a research report on Wednesday, August 14th. They issued an “underweight” rating and a $100.00 target price on the stock. Robert W. Baird upped their target price on Caterpillar from $141.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $155.00 target price on shares of Caterpillar in a research report on Wednesday, October 23rd. Credit Suisse Group reaffirmed a “buy” rating and issued a $150.00 target price on shares of Caterpillar in a research report on Thursday, October 24th. Finally, Deutsche Bank upped their target price on Caterpillar from $113.00 to $123.00 and gave the company a “hold” rating in a research report on Thursday, October 24th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $138.76.
Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.
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