Bridges Investment Management Inc. Has $2.17 Million Stake in Caterpillar Inc. $CAT

Bridges Investment Management Inc. decreased its position in Caterpillar Inc. (NYSE:CAT) by 0.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,578 shares of the industrial products company’s stock after selling 37 shares during the period. Bridges Investment Management Inc.’s holdings in Caterpillar were worth $2,165,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Callahan Advisors LLC increased its stake in Caterpillar by 0.9% in the second quarter. Callahan Advisors LLC now owns 55,162 shares of the industrial products company’s stock valued at $21,415,000 after purchasing an additional 505 shares in the last quarter. Davidson Investment Advisors increased its stake in Caterpillar by 8.5% in the second quarter. Davidson Investment Advisors now owns 1,299 shares of the industrial products company’s stock valued at $504,000 after purchasing an additional 102 shares in the last quarter. Chesapeake Wealth Management increased its stake in Caterpillar by 15.5% in the second quarter. Chesapeake Wealth Management now owns 3,073 shares of the industrial products company’s stock valued at $1,193,000 after purchasing an additional 412 shares in the last quarter. Prairie Sky Financial Group LLC bought a new stake in Caterpillar in the second quarter valued at $227,000. Finally, Rosenberg Matthew Hamilton increased its stake in Caterpillar by 9.8% in the second quarter. Rosenberg Matthew Hamilton now owns 1,551 shares of the industrial products company’s stock valued at $602,000 after purchasing an additional 139 shares in the last quarter. 70.98% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CAT shares. Evercore ISI raised shares of Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price target for the company in a research note on Tuesday, August 19th. Bank of America lifted their price target on shares of Caterpillar from $517.00 to $594.00 and gave the company a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of Caterpillar from $505.00 to $650.00 and gave the stock an “overweight” rating in a research report on Tuesday. Sanford C. Bernstein boosted their target price on shares of Caterpillar from $447.00 to $502.00 and gave the stock a “market perform” rating in a research report on Tuesday. Finally, Barclays boosted their target price on shares of Caterpillar from $383.00 to $425.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $506.60.

Caterpillar Stock Up 1.4%

CAT opened at $541.28 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. The stock has a market cap of $253.58 billion, a price-to-earnings ratio of 27.53, a PEG ratio of 3.27 and a beta of 1.46. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $544.99. The company’s 50-day moving average price is $451.16 and its two-hundred day moving average price is $389.18.

Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing analysts’ consensus estimates of $4.88 by ($0.16). The company had revenue of $16.57 billion during the quarter, compared to analysts’ expectations of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The firm’s revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.99 earnings per share. As a group, equities analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Monday, October 20th. Caterpillar’s payout ratio is presently 30.72%.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of the business’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $410.00, for a total value of $952,840.00. Following the transaction, the director directly owned 6,917 shares in the company, valued at $2,835,970. The trade was a 25.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the sale, the chairman owned 482,505 shares in the company, valued at $199,211,839.35. The trade was a 3.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,985 shares of company stock worth $25,559,300 over the last three months. 0.33% of the stock is currently owned by insiders.

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.