Gilliland Jeter Wealth Management LLC Trims Position in Caterpillar Inc. (NYSE:CAT)

Gilliland Jeter Wealth Management LLC trimmed its position in Caterpillar Inc. (NYSE:CAT) by 1.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 13,160 shares of the industrial products company’s stock after selling 203 shares during the period. Caterpillar comprises approximately 1.6% of Gilliland Jeter Wealth Management LLC’s holdings, making the stock its 11th biggest holding. Gilliland Jeter Wealth Management LLC’s holdings in Caterpillar were worth $5,147,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CAT. Canada Pension Plan Investment Board boosted its holdings in Caterpillar by 306.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 407,677 shares of the industrial products company’s stock valued at $149,385,000 after purchasing an additional 307,479 shares during the period. Altshuler Shaham Ltd raised its position in shares of Caterpillar by 3,319.7% in the second quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company’s stock worth $91,606,000 after buying an additional 266,969 shares in the last quarter. Swedbank AB purchased a new position in Caterpillar during the first quarter worth about $97,042,000. Capital International Investors increased its stake in Caterpillar by 99.9% in the 1st quarter. Capital International Investors now owns 488,660 shares of the industrial products company’s stock worth $179,060,000 after acquiring an additional 244,253 shares during the last quarter. Finally, National Bank of Canada FI raised its holdings in shares of Caterpillar by 104.6% in the 2nd quarter. National Bank of Canada FI now owns 391,428 shares of the industrial products company’s stock valued at $128,768,000 after acquiring an additional 200,134 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the sale, the insider now directly owns 33,442 shares in the company, valued at $11,750,181.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Cheryl H. Johnson sold 2,975 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total value of $1,018,878.00. Following the sale, the insider now directly owns 15,615 shares of the company’s stock, valued at $5,347,825.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Anthony D. Fassino sold 3,185 shares of Caterpillar 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 transaction, the insider now owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Caterpillar Stock Down 0.2 %

Shares of NYSE:CAT opened at $393.86 on Monday. Caterpillar Inc. has a 1 year low of $223.76 and a 1 year high of $403.60. 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’s 50-day moving average is $363.86 and its 200 day moving average is $350.16. The company has a market cap of $192.62 billion, a PE ratio of 17.78, a P/E/G ratio of 1.85 and a beta of 1.10.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, topping analysts’ consensus estimates of $5.53 by $0.46. The company had revenue of $16.69 billion during the quarter, compared to analyst estimates of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The firm’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the firm posted $5.55 earnings per share. Sell-side analysts anticipate that Caterpillar Inc. will post 21.91 EPS for the current year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be given a dividend of $1.41 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 annualized dividend and a yield of 1.43%. Caterpillar’s payout ratio is 25.46%.

Analysts Set New Price Targets

CAT has been the topic of a number of recent analyst reports. Barclays raised their target price on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Morgan Stanley cut Caterpillar from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $349.00 to $332.00 in a research note on Monday, October 14th. StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Raymond James assumed coverage on Caterpillar in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Finally, Bank of America boosted their target price on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Caterpillar currently has a consensus rating of “Hold” and a consensus price target of $355.50.

Caterpillar 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.