Gemmer Asset Management LLC Trims Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Gemmer Asset Management LLC trimmed its holdings in Caterpillar Inc. (NYSE:CAT) by 17.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 690 shares of the industrial products company’s stock after selling 150 shares during the period. Gemmer Asset Management LLC’s holdings in Caterpillar were worth $270,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of CAT. Acadian Asset Management LLC boosted its holdings in Caterpillar by 17.2% in 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 period. Alpha Cubed Investments LLC boosted its holdings in Caterpillar by 5.6% in the 3rd quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock valued at $45,591,000 after purchasing an additional 6,212 shares during the period. Diversify Advisory Services LLC bought a new position in Caterpillar in the 1st quarter valued at $926,000. First Affirmative Financial Network bought a new position in Caterpillar in the 3rd quarter valued at $204,000. Finally, Inspire Advisors LLC boosted its holdings in Caterpillar by 25.8% in the 3rd quarter. Inspire Advisors LLC now owns 8,266 shares of the industrial products company’s stock valued at $3,233,000 after purchasing an additional 1,694 shares during the period. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a report on Wednesday, August 7th. Bank of America lifted their price objective on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a report on Monday, September 30th. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Barclays lifted their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Finally, Evercore ISI lowered their price target on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. 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 company’s stock. According to MarketBeat, Caterpillar currently has an average rating of “Hold” and a consensus price target of $355.50.

Caterpillar Price Performance

CAT stock opened at $387.86 on Monday. The firm’s 50-day moving average price is $368.57 and its two-hundred day moving average price is $350.66. Caterpillar Inc. has a 12-month low of $223.76 and a 12-month high of $403.60. The stock has a market capitalization of $189.68 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 1.85 and a beta of 1.10. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.53 by $0.46. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The company had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $16.91 billion. During the same quarter in the previous year, the company earned $5.55 earnings per share. Caterpillar’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, equities analysts predict that Caterpillar Inc. will post 21.91 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be given a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Monday, October 21st. Caterpillar’s dividend payout ratio is currently 25.46%.

Insider Activity at Caterpillar

In related news, insider Cheryl H. Johnson sold 2,975 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the transaction, the insider now owns 15,615 shares in the company, valued at $5,347,825.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 33,442 shares in the company, valued at approximately $11,750,181.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Cheryl H. Johnson sold 2,975 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the completion of the sale, the insider now owns 15,615 shares in the company, valued at approximately $5,347,825.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate 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.