Secure Asset Management LLC Reduces Position in Caterpillar Inc. (NYSE:CAT)

Secure Asset Management LLC lowered its stake in Caterpillar Inc. (NYSE:CAT) by 7.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,338 shares of the industrial products company’s stock after selling 101 shares during the period. Secure Asset Management LLC’s holdings in Caterpillar were worth $523,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CAT. Acadian Asset Management LLC grew its stake in Caterpillar by 17.2% during the 1st quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock valued at $3,308,000 after purchasing an additional 1,327 shares during the last quarter. Alpha Cubed Investments LLC lifted its holdings in shares of Caterpillar by 5.6% during the third quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock worth $45,591,000 after purchasing an additional 6,212 shares during the period. Diversify Advisory Services LLC purchased a new stake in Caterpillar in the first quarter valued at approximately $926,000. First Affirmative Financial Network purchased a new position in Caterpillar during the 3rd quarter worth approximately $204,000. Finally, Natixis Advisors LLC lifted its stake in Caterpillar by 3.5% during the 2nd quarter. Natixis Advisors LLC now owns 278,259 shares of the industrial products company’s stock valued at $92,688,000 after acquiring an additional 9,321 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CAT shares. Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $349.00 to $332.00 in a research note on Monday, October 14th. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Evercore ISI lowered their target price on Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Raymond James assumed coverage on Caterpillar in a report on Friday, June 28th. They set a “market perform” rating on the stock. Finally, JPMorgan Chase & Co. boosted their price target on Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $355.50.

Insider Buying and Selling

In other Caterpillar news, Director Gerald Johnson acquired 100 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was bought at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the acquisition, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gerald Johnson purchased 100 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were purchased at an average price of $338.59 per share, with a total value of $33,859.00. Following the acquisition, the director now directly owns 2,842 shares in the company, valued at approximately $962,272.78. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by company insiders.

Caterpillar Stock Down 0.2 %

CAT opened at $393.84 on Friday. The company has a market cap of $192.61 billion, a PE ratio of 17.78, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. Caterpillar Inc. has a twelve month low of $223.76 and a twelve month high of $403.60. The company has a 50-day moving average price of $363.86 and a 200 day moving average price of $350.44. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39.

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

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be given a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date is Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is 25.46%.

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.