Caterpillar Inc. $CAT Shares Sold by Dearborn Partners LLC

Dearborn Partners LLC trimmed its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 24.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,807 shares of the industrial products company’s stock after selling 9,591 shares during the period. Dearborn Partners LLC’s holdings in Caterpillar were worth $11,571,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Kilter Group LLC acquired a new stake in Caterpillar in the 2nd quarter valued at $27,000. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Caterpillar in the second quarter valued at about $28,000. Compass Financial Services Inc raised its holdings 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 buying an additional 31 shares during the period. Family Legacy Financial Solutions LLC acquired a new position in Caterpillar during the 2nd quarter worth approximately $32,000. Finally, RiverPark Advisors LLC purchased a new position in Caterpillar in the 2nd quarter worth approximately $32,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Performance

CAT stock opened at $614.80 on Thursday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.86 and a current ratio of 1.38. The stock’s fifty day moving average is $549.95 and its two-hundred day moving average is $457.87. The stock has a market capitalization of $287.71 billion, a price-to-earnings ratio of 31.56, a PEG ratio of 2.80 and a beta of 1.57. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $617.23.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $4.95 EPS for the quarter, beating the consensus estimate of $4.52 by $0.43. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The company had revenue of $17.64 billion for the quarter, compared to analyst estimates of $16.72 billion. During the same quarter last year, the business earned $5.17 earnings per share. Caterpillar’s revenue was up 9.5% compared to the same quarter last year. On average, research analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Tuesday, January 20th will be paid a dividend of $1.51 per share. The ex-dividend date of this dividend is Tuesday, January 20th. This represents a $6.04 annualized dividend and a yield of 1.0%. Caterpillar’s dividend payout ratio (DPR) is presently 31.01%.

Insider Buying and Selling at Caterpillar

In related news, Chairman Donald J. Umpleby III sold 17,166 shares of the business’s stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $505.29, for a total transaction of $8,673,808.14. Following the sale, the chairman owned 448,173 shares of the company’s stock, valued at $226,457,335.17. The trade was a 3.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lange Bob De sold 14,638 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was 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 ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 79,061 shares of company stock valued at $41,949,366. 0.33% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently commented on CAT. Royal Bank Of Canada began coverage on shares of Caterpillar in a research report on Wednesday, October 22nd. They set a “sector perform” rating and a $560.00 target price on the stock. Robert W. Baird boosted their price objective on shares of Caterpillar from $612.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. DA Davidson lifted their target price on Caterpillar from $408.00 to $569.00 and gave the stock a “neutral” rating in a research report on Monday, November 3rd. Citigroup increased their price target on Caterpillar from $670.00 to $690.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Barclays upped their target price on Caterpillar from $485.00 to $555.00 and gave the company an “equal weight” rating in a research report on Thursday, October 30th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $612.16.

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.