Taylor Hoffman Wealth Management Cuts Stock Position in Caterpillar Inc. (NYSE:CAT)

Taylor Hoffman Wealth Management cut its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 1.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,772 shares of the industrial products company’s stock after selling 73 shares during the period. Taylor Hoffman Wealth Management’s holdings in Caterpillar were worth $476,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CAT. Morgan Stanley boosted its holdings in Caterpillar by 4.2% in the second quarter. Morgan Stanley now owns 4,367,073 shares of the industrial products company’s stock valued at $595,189,000 after purchasing an additional 174,165 shares in the last quarter. Manning & Napier Group LLC raised its position in Caterpillar by 30.4% during the second quarter. Manning & Napier Group LLC now owns 152,404 shares of the industrial products company’s stock valued at $20,770,000 after purchasing an additional 35,530 shares in the last quarter. Atalanta Sosnoff Capital LLC grew its stake in shares of Caterpillar by 3.6% during the second quarter. Atalanta Sosnoff Capital LLC now owns 3,487 shares of the industrial products company’s stock worth $475,000 after buying an additional 120 shares during the last quarter. Krueger & Catalano Capital Partners LLC grew its stake in shares of Caterpillar by 6.4% during the second quarter. Krueger & Catalano Capital Partners LLC now owns 4,892 shares of the industrial products company’s stock worth $667,000 after buying an additional 293 shares during the last quarter. Finally, Cahill Financial Advisors Inc. grew its stake in shares of Caterpillar by 2.7% during the second quarter. Cahill Financial Advisors Inc. now owns 8,240 shares of the industrial products company’s stock worth $1,124,000 after buying an additional 218 shares during the last quarter. Institutional investors own 65.74% of the company’s stock.

In other news, CAO Gary Michael Marvel sold 2,180 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $139.38, for a total transaction of $303,848.40. Following the transaction, the chief accounting officer now owns 2,180 shares in the company, valued at $303,848.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Denise C. Johnson sold 4,172 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $146.67, for a total transaction of $611,907.24. The disclosure for this sale can be found here. Insiders have sold 95,141 shares of company stock worth $13,717,142 in the last quarter. Company insiders own 0.37% of the company’s stock.

Several brokerages recently weighed in on CAT. Stephens began coverage on shares of Caterpillar in a research note on Wednesday, August 14th. They issued an “underweight” rating and a $100.00 price objective on the stock. Morgan Stanley reduced their price objective on shares of Caterpillar from $145.00 to $132.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Royal Bank of Canada reissued a “hold” rating on shares of Caterpillar in a research note on Wednesday, August 14th. Cleveland Research reissued a “hold” rating on shares of Caterpillar in a research note on Monday, September 30th. Finally, Robert W. Baird boosted their price objective on shares of Caterpillar from $141.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $138.76.

CAT stock traded up $1.15 during midday trading on Friday, hitting $148.16. The stock had a trading volume of 2,714,785 shares, compared to its average volume of 4,321,513. The firm has a market cap of $80.89 billion, a P/E ratio of 13.20, a price-to-earnings-growth ratio of 1.54 and a beta of 1.53. The company has a current ratio of 1.44, a quick ratio of 0.99 and a debt-to-equity ratio of 1.71. Caterpillar Inc. has a 1-year low of $111.75 and a 1-year high of $148.40. The business has a fifty day moving average price of $131.66 and a two-hundred day moving average price of $129.08.

Caterpillar (NYSE:CAT) last released its earnings results on Wednesday, October 23rd. The industrial products company reported $2.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.82 by ($0.16). The firm had revenue of $12.76 billion during the quarter, compared to analyst estimates of $13.49 billion. Caterpillar had a net margin of 10.99% and a return on equity of 42.51%. Caterpillar’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.86 EPS. On average, equities analysts anticipate that Caterpillar Inc. will post 10.89 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be issued a $1.03 dividend. The ex-dividend date is Friday, October 18th. This represents a $4.12 annualized dividend and a yield of 2.78%. Caterpillar’s payout ratio is 36.72%.

About Caterpillar

Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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