Lee Danner & Bass Inc. Has $17.22 Million Stock Holdings in Caterpillar Inc. $CAT

Lee Danner & Bass Inc. trimmed its position in Caterpillar Inc. (NYSE:CAT) by 5.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,091 shares of the industrial products company’s stock after selling 2,194 shares during the quarter. Caterpillar comprises approximately 1.3% of Lee Danner & Bass Inc.’s holdings, making the stock its 16th largest position. Lee Danner & Bass Inc.’s holdings in Caterpillar were worth $17,221,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Kilter Group LLC bought a new position in Caterpillar in the 2nd quarter worth approximately $27,000. Mid American Wealth Advisory Group Inc. bought a new stake in Caterpillar in the 2nd quarter valued at $28,000. Marquette Asset Management LLC grew its position in Caterpillar by 1,060.0% in the 3rd quarter. Marquette Asset Management LLC now owns 58 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 53 shares during the last quarter. RiverPark Advisors LLC acquired a new position in shares of Caterpillar during the second quarter valued at about $32,000. Finally, Joseph Group Capital Management bought a new stake in shares of Caterpillar in the third quarter valued at about $32,000. 70.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on CAT. Jefferies Financial Group upped their price target on Caterpillar from $570.00 to $700.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Wolfe Research upped their target price on Caterpillar from $470.00 to $670.00 and gave the company an “outperform” rating in a research note on Friday, January 2nd. Royal Bank Of Canada initiated coverage on shares of Caterpillar in a research note on Wednesday, October 22nd. They set a “sector perform” rating and a $560.00 price target on the stock. HSBC upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and increased their price objective for the company from $405.00 to $660.00 in a research note on Wednesday, November 5th. Finally, Hsbc Global Res raised shares of Caterpillar from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $623.10.

Caterpillar Stock Performance

Shares of NYSE:CAT opened at $646.95 on Tuesday. The business has a fifty day moving average of $588.42 and a 200-day moving average of $505.37. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.86 and a current ratio of 1.38. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $655.68. The firm has a market cap of $302.76 billion, a PE ratio of 33.21, a price-to-earnings-growth ratio of 2.50 and a beta of 1.57.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Monday, November 3rd. The industrial products company reported $4.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.52 by $0.43. The business had revenue of $17.64 billion for the quarter, compared to the consensus estimate of $16.72 billion. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.17 EPS. On average, equities research analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Tuesday, January 20th will be paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, January 20th. Caterpillar’s dividend payout ratio is 31.01%.

Insider Transactions at Caterpillar

In other news, insider Anthony D. Fassino sold 8,184 shares of the business’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $570.18, for a total transaction of $4,666,353.12. Following the completion of the sale, the insider owned 41,512 shares in the company, valued at $23,669,312.16. The trade was a 16.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO William E. Schaupp sold 1,200 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $572.22, for a total value of $686,664.00. Following the completion of the transaction, the chief accounting officer owned 1,323 shares in the company, valued at approximately $757,047.06. This represents a 47.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 54,729 shares of company stock worth $31,084,308 over the last ninety days. 0.33% of the stock is currently owned by insiders.

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.