Weil Company Inc. Sells 619 Shares of Caterpillar Inc. (NYSE:CAT)

Weil Company Inc. lowered its stake in Caterpillar Inc. (NYSE:CAT) by 42.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 830 shares of the industrial products company’s stock after selling 619 shares during the period. Weil Company Inc.’s holdings in Caterpillar were worth $277,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of CAT. Private Trust Co. NA increased its stake in shares of Caterpillar by 0.3% during the first quarter. Private Trust Co. NA now owns 10,695 shares of the industrial products company’s stock worth $3,919,000 after purchasing an additional 30 shares during the period. Southland Equity Partners LLC grew its holdings in Caterpillar by 4.0% in the 1st quarter. Southland Equity Partners LLC now owns 784 shares of the industrial products company’s stock valued at $287,000 after buying an additional 30 shares in the last quarter. Davis Investment Partners LLC increased its position in Caterpillar by 2.1% during the 1st quarter. Davis Investment Partners LLC now owns 1,454 shares of the industrial products company’s stock worth $541,000 after buying an additional 30 shares during the period. Hilltop National Bank boosted its position in shares of Caterpillar by 1.2% in the second quarter. Hilltop National Bank now owns 2,636 shares of the industrial products company’s stock valued at $878,000 after acquiring an additional 31 shares during the period. Finally, Exchange Capital Management Inc. grew its stake in shares of Caterpillar by 3.3% in the first quarter. Exchange Capital Management Inc. now owns 1,016 shares of the industrial products company’s stock valued at $372,000 after acquiring an additional 32 shares in the last quarter. 70.98% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CAT has been the subject of a number of recent research reports. Bank of America cut their price objective on shares of Caterpillar from $385.00 to $376.00 and set a “buy” rating for the company 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. Raymond James initiated coverage on Caterpillar in a research note on Friday, June 28th. They set a “market perform” rating on the stock. UBS Group upped their target price on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research report on Wednesday, August 7th. Finally, Barclays raised their price target on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $336.31.

Caterpillar Price Performance

CAT stock opened at $329.32 on Friday. Caterpillar Inc. has a 1 year low of $223.76 and a 1 year high of $382.01. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78. The stock has a market cap of $161.05 billion, a price-to-earnings ratio of 14.87, a P/E/G ratio of 1.66 and a beta of 1.12. The company has a 50 day simple moving average of $339.86 and a 200 day simple moving average of $343.24.

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

Caterpillar Increases Dividend

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

Caterpillar announced that its Board of Directors has approved a stock buyback plan on Wednesday, June 12th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to purchase up to 12.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Caterpillar

In other Caterpillar news, Director Gerald Johnson purchased 100 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was purchased at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the transaction, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Caterpillar news, Director Gerald Johnson purchased 100 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were bought at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the acquisition, the director now owns 2,842 shares in the company, valued at $962,272.78. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the sale, the insider now owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The disclosure for this sale can be found here. Insiders sold a total of 7,668 shares of company stock worth $2,665,760 in the last quarter. 0.33% of the stock is owned by insiders.

Caterpillar Company Profile

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.