Douglas Lane & Associates LLC Sells 35 Shares of Caterpillar Inc. (NYSE:CAT)

Douglas Lane & Associates LLC decreased its position in Caterpillar Inc. (NYSE:CAT) by 0.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,832 shares of the industrial products company’s stock after selling 35 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Caterpillar were worth $1,890,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Beacon Financial Group lifted its position in shares of Caterpillar by 3.9% during the 4th quarter. Beacon Financial Group now owns 1,085 shares of the industrial products company’s stock worth $321,000 after purchasing an additional 41 shares during the last quarter. EP Wealth Advisors LLC boosted its position in shares of Caterpillar by 4.8% in the fourth quarter. EP Wealth Advisors LLC now owns 8,878 shares of the industrial products company’s stock valued at $2,625,000 after acquiring an additional 404 shares during the period. Scarborough Advisors LLC acquired a new stake in shares of Caterpillar in the fourth quarter worth $77,000. Pineridge Advisors LLC bought a new position in Caterpillar during the fourth quarter worth $36,000. Finally, Richardson Financial Services Inc. acquired a new position in Caterpillar during the 4th quarter valued at $27,000. 70.98% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CAT shares. Citigroup boosted their price objective on shares of Caterpillar from $380.00 to $445.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Raymond James initiated coverage on Caterpillar in a research note on Friday, June 28th. They set a “market perform” rating on the stock. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Bank of America upped their target price on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, Evercore ISI decreased their price target on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $347.56.

Caterpillar Stock Performance

NYSE:CAT opened at $402.02 on Monday. The stock has a market capitalization of $196.61 billion, a P/E ratio of 18.15, a price-to-earnings-growth 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 Inc. has a 1 year low of $223.76 and a 1 year high of $403.60. The firm has a 50 day moving average of $357.45 and a 200-day moving average of $349.26.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data 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. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The company had revenue of $16.69 billion for the quarter, compared to analyst estimates of $16.91 billion. During the same quarter in the previous year, the firm earned $5.55 earnings per share. The business’s revenue was down 3.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Caterpillar Inc. will post 21.91 EPS for the current fiscal year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be paid a dividend of $1.41 per share. The ex-dividend date is Monday, October 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.40%. Caterpillar’s dividend payout ratio (DPR) is currently 25.46%.

Insider Buying and Selling

In other news, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction 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 completion of the sale, the insider now directly owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related 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, with a total value of $33,859.00. Following the purchase, the director now directly owns 2,842 shares in the company, valued at $962,272.78. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction 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 approximately $5,347,825.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,668 shares of company stock worth $2,665,760 in the last quarter. Insiders own 0.33% of the company’s stock.

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.