Second Line Capital LLC Makes New $216,000 Investment in Caterpillar Inc. (NYSE:CAT)

Second Line Capital LLC purchased a new position in shares of Caterpillar Inc. (NYSE:CAT) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 551 shares of the industrial products company’s stock, valued at approximately $216,000.

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

Insider Buying and Selling at Caterpillar

In related news, insider Cheryl H. Johnson sold 2,664 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $378.84, for a total value of $1,009,229.76. Following the sale, the insider now directly owns 12,951 shares of the company’s stock, valued at $4,906,356.84. This trade represents a 17.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Daniel M. Dickinson sold 1,300 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $418.00, for a total transaction of $543,400.00. Following the completion of the transaction, the director now directly owns 4,976 shares of the company’s stock, valued at approximately $2,079,968. This represents a 20.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,868 shares of company stock valued at $9,679,489 in the last quarter. 0.29% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Robert W. Baird upped their target price on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. Morgan Stanley downgraded shares of Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $349.00 to $332.00 in a report on Monday, October 14th. Jefferies Financial Group lifted their price objective on shares of Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a report on Friday, December 6th. Evercore ISI cut shares of Caterpillar from an “in-line” rating to an “underperform” rating and raised their price target for the company from $321.00 to $365.00 in a research report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. boosted their price objective on Caterpillar from $500.00 to $515.00 and gave the stock an “overweight” rating in a report on Monday. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $374.69.

Caterpillar Trading Down 2.7 %

Shares of CAT opened at $388.44 on Wednesday. Caterpillar Inc. has a fifty-two week low of $259.12 and a fifty-two week high of $418.50. The business has a 50-day moving average of $393.01 and a 200 day moving average of $359.52. The firm has a market cap of $187.54 billion, a P/E ratio of 18.01, a price-to-earnings-growth ratio of 1.97 and a beta of 1.10. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The business had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. During the same quarter in the previous year, the company posted $5.52 earnings per share. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. As a group, research analysts forecast that Caterpillar Inc. will post 21.67 EPS for the current year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be issued a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.45%. Caterpillar’s dividend payout ratio (DPR) is 26.15%.

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.