Caterpillar Inc. $CAT Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. reduced its position in Caterpillar Inc. (NYSE:CAT) by 36.9% in the 2nd quarter, Holdings Channel reports. The fund owned 11,730 shares of the industrial products company’s stock after selling 6,866 shares during the period. Edgestream Partners L.P.’s holdings in Caterpillar were worth $4,554,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Mid American Wealth Advisory Group Inc. purchased a new position in Caterpillar during the second quarter worth about $28,000. Compass Financial Services Inc increased its stake in shares of Caterpillar by 49.2% during the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 31 shares during the last quarter. Family Legacy Financial Solutions LLC purchased a new position in shares of Caterpillar during the 2nd quarter worth about $32,000. RiverPark Advisors LLC acquired a new stake in shares of Caterpillar in the second quarter worth approximately $32,000. Finally, Harbor Asset Planning Inc. purchased a new stake in Caterpillar in the second quarter valued at approximately $34,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Up 2.6%

Shares of Caterpillar stock opened at $582.68 on Wednesday. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $596.21. The company has a market capitalization of $272.68 billion, a PE ratio of 29.91, a P/E/G ratio of 2.68 and a beta of 1.57. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.38 and a quick ratio of 0.86. The business has a 50-day moving average of $534.56 and a 200-day moving average of $447.95.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $4.95 EPS for the quarter, beating analysts’ consensus estimates of $4.52 by $0.43. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The firm had revenue of $17.64 billion during the quarter, compared to the consensus estimate of $16.72 billion. During the same quarter in the prior year, the business posted $5.17 earnings per share. Caterpillar’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, equities analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, October 20th were given a dividend of $1.51 per share. The ex-dividend date of this dividend was Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.0%. Caterpillar’s dividend payout ratio (DPR) is presently 31.01%.

Insider Transactions at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 8,184 shares of the firm’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $570.18, for a total transaction of $4,666,353.12. Following the completion of the transaction, the insider directly owned 41,512 shares of the company’s stock, valued at $23,669,312.16. This trade represents a 16.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lange Bob De sold 14,638 shares of the company’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $562.36, for a total transaction of $8,231,825.68. Following the completion of the sale, the insider owned 80,209 shares in the company, valued at approximately $45,106,333.24. This trade represents a 15.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 79,061 shares of company stock valued at $41,949,366 over the last ninety days. 0.33% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Robert W. Baird increased their price target on shares of Caterpillar from $612.00 to $680.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. JPMorgan Chase & Co. lifted their target price on Caterpillar from $650.00 to $730.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Sanford C. Bernstein reissued a “market perform” rating on shares of Caterpillar in a research report on Wednesday, November 5th. Hsbc Global Res upgraded Caterpillar from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Finally, Evercore ISI boosted their target price on Caterpillar from $476.00 to $630.00 and gave the stock an “outperform” rating in a report on Monday, November 17th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $610.32.

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.