Caterpillar Inc. (NYSE:CAT) Shares Sold by Gilman Hill Asset Management LLC

Gilman Hill Asset Management LLC reduced its stake in Caterpillar Inc. (NYSE:CAT) by 3.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,239 shares of the industrial products company’s stock after selling 40 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in Caterpillar were worth $413,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Partnership Wealth Management LLC acquired a new stake in Caterpillar during the 4th quarter worth approximately $26,000. Richardson Financial Services Inc. acquired a new stake in Caterpillar during the 4th quarter worth approximately $27,000. Thompson Investment Management Inc. acquired a new stake in Caterpillar during the 1st quarter worth approximately $27,000. Fairman Group LLC acquired a new stake in shares of Caterpillar in the 1st quarter valued at $29,000. Finally, Vima LLC acquired a new stake in shares of Caterpillar in the 4th quarter valued at $30,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Performance

Caterpillar stock traded up $2.10 during midday trading on Friday, hitting $338.26. 1,668,078 shares of the company’s stock were exchanged, compared to its average volume of 2,750,098. Caterpillar Inc. has a 12-month low of $223.76 and a 12-month high of $382.01. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.83 and a current ratio of 1.35. The stock has a market cap of $165.43 billion, a price-to-earnings ratio of 15.27, a price-to-earnings-growth ratio of 1.72 and a beta of 1.12. The firm’s 50 day simple moving average is $333.35 and its 200 day simple moving average is $338.78.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.53 by $0.46. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. The company had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $16.91 billion. During the same period last year, the firm posted $5.55 EPS. Caterpillar’s revenue for the quarter was down 3.6% on a year-over-year basis. Equities research analysts predict that Caterpillar Inc. will post 21.57 EPS for the current year.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd will be issued a $1.41 dividend. This is an increase from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date is Monday, July 22nd. This represents a $5.64 annualized dividend and a dividend yield of 1.67%. Caterpillar’s payout ratio is presently 25.46%.

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CAT shares. UBS Group raised their price objective on shares of Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a report on Wednesday. Barclays raised their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a report on Wednesday. HSBC raised their price objective on shares of Caterpillar from $330.00 to $360.00 and gave the company a “hold” rating in a report on Tuesday, April 30th. Bank of America reduced their price objective on shares of Caterpillar from $385.00 to $376.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, StockNews.com upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Saturday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Caterpillar presently has an average rating of “Hold” and an average target price of $337.38.

Insider Activity

In other news, insider Lange Bob De sold 21,847 shares of Caterpillar stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $356.90, for a total value of $7,797,194.30. Following the sale, the insider now owns 71,115 shares of the company’s stock, valued at $25,380,943.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Cheryl H. Johnson sold 1,508 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total value of $527,800.00. Following the completion of the sale, the insider now owns 18,515 shares in the company, valued at $6,480,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lange Bob De sold 21,847 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $356.90, for a total transaction of $7,797,194.30. Following the completion of the sale, the insider now owns 71,115 shares of the company’s stock, valued at approximately $25,380,943.50. The disclosure for this sale can be found here. Insiders have sold a total of 24,863 shares of company stock valued at $8,837,714 over the last quarter. Corporate insiders own 0.33% of the company’s stock.

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.