Triton Financial Group Inc Takes Position in Caterpillar Inc. $CAT

Triton Financial Group Inc bought a new position in shares of Caterpillar Inc. (NYSE:CAT) during the second quarter, HoldingsChannel.com reports. The firm bought 816 shares of the industrial products company’s stock, valued at approximately $869,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CAT. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in Caterpillar in the 2nd quarter valued at $3,861,000. Blue Edge Capital LLC acquired a new stake in shares of Caterpillar during the second quarter worth $14,034,000. Parvin Asset Management LLC purchased a new stake in shares of Caterpillar in the second quarter valued at $575,000. Proficio Capital Partners LLC acquired a new position in Caterpillar in the second quarter valued at $2,896,000. Finally, Stonebridge Capital Management Inc. purchased a new position in Caterpillar during the second quarter worth about $8,358,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Trading Down 0.1%

NYSE CAT opened at $813.51 on Tuesday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.85 and a current ratio of 1.37. Caterpillar Inc. has a one year low of $416.44 and a one year high of $1,073.46. The company’s 50 day moving average price is $868.12 and its 200 day moving average price is $839.26. The firm has a market capitalization of $373.95 billion, a price-to-earnings ratio of 35.00, a PEG ratio of 1.41 and a beta of 1.60.

Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, August 4th. The industrial products company reported $8.17 EPS for the quarter, beating analysts’ consensus estimates of $6.22 by $1.95. The business had revenue of $20.54 billion for the quarter, compared to the consensus estimate of $19.34 billion. Caterpillar had a net margin of 14.51% and a return on equity of 55.53%. The business’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same quarter last year, the firm posted $4.72 EPS. On average, sell-side analysts predict that Caterpillar Inc. will post 27.34 EPS for the current year.

Caterpillar Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Monday, July 20th were paid a dividend of $1.63 per share. This is a boost from Caterpillar’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Monday, July 20th. Caterpillar’s payout ratio is presently 28.06%.

Insider Buying and Selling at Caterpillar

In other news, CEO Joseph E. Creed sold 32,401 shares of the stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $808.98, for a total value of $26,211,760.98. Following the completion of the sale, the chief executive officer owned 34,555 shares in the company, valued at approximately $27,954,303.90. This trade represents a 48.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have commented on CAT. Erste Group Bank cut Caterpillar from a “buy” rating to a “hold” rating in a report on Monday, July 27th. Weiss Ratings raised shares of Caterpillar from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 19th. Robert W. Baird set a $970.00 target price on shares of Caterpillar in a report on Wednesday, August 5th. Barclays increased their price target on shares of Caterpillar from $800.00 to $900.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 6th. Finally, Royal Bank Of Canada lifted their price target on shares of Caterpillar from $877.00 to $897.00 and gave the company a “sector perform” rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $995.52.

About Caterpillar

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.