Stonebrook Private Inc. Cuts Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Stonebrook Private Inc. cut its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 36.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,187 shares of the industrial products company’s stock after selling 680 shares during the period. Stonebrook Private Inc.’s holdings in Caterpillar were worth $395,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Partnership Wealth Management LLC bought a new position in shares of Caterpillar in the 4th quarter worth $26,000. Richardson Financial Services Inc. bought a new position in Caterpillar in the fourth quarter worth about $27,000. Thompson Investment Management Inc. bought a new stake in shares of Caterpillar in the 1st quarter valued at about $27,000. Bbjs Financial Advisors LLC purchased a new position in shares of Caterpillar in the 2nd quarter worth approximately $28,000. Finally, Financial Connections Group Inc. bought a new position in shares of Caterpillar during the 2nd quarter worth approximately $28,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Stock Performance

CAT stock traded down $4.20 during trading on Friday, hitting $329.36. 2,676,623 shares of the company traded hands, compared to its average volume of 2,680,938. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78. Caterpillar Inc. has a 1 year low of $223.76 and a 1 year high of $382.01. The stock’s 50-day simple moving average is $339.86 and its 200 day simple moving average is $343.24. The company has a market cap of $161.07 billion, a PE ratio of 14.87, a P/E/G ratio of 1.66 and a beta of 1.12.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.53 by $0.46. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The firm had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $16.91 billion. During the same period in the prior year, the firm posted $5.55 earnings per share. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, equities analysts expect that Caterpillar Inc. will post 21.87 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Monday, July 22nd were paid a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend was Monday, July 22nd. This is a positive change from Caterpillar’s previous quarterly dividend of $1.30. Caterpillar’s payout ratio is currently 25.46%.

Caterpillar declared that its board has authorized a share buyback program on Wednesday, June 12th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to purchase up to 12.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts have issued reports on CAT shares. UBS Group lifted their price target on shares of Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a report on Wednesday, August 7th. Citigroup began coverage on Caterpillar in a research note on Wednesday, June 26th. They issued a “buy” rating and a $380.00 price target for the company. Bank of America dropped their price target on Caterpillar from $385.00 to $376.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Raymond James started coverage on shares of Caterpillar in a research note on Friday, June 28th. They issued a “market perform” rating for the company. Finally, StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $336.31.

Insider Buying and Selling

In other Caterpillar news, Director Gerald Johnson bought 100 shares of Caterpillar stock in a transaction dated Wednesday, September 4th. The stock was acquired at an average cost of $338.59 per share, with a total value of $33,859.00. Following the purchase, the director now directly owns 2,842 shares in the company, valued at approximately $962,272.78. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other news, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total value of $1,018,878.00. Following the transaction, the insider now owns 15,615 shares in the company, valued at $5,347,825.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gerald Johnson bought 100 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were acquired at an average cost of $338.59 per share, with a total value of $33,859.00. Following the acquisition, the director now directly owns 2,842 shares of the company’s stock, valued at $962,272.78. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 7,668 shares of company stock valued at $2,665,760. 0.33% of the stock is owned by company insiders.

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.