Forum Financial Management LP Raises Stake in Caterpillar Inc. $CAT

Forum Financial Management LP boosted its holdings in shares of Caterpillar Inc. (NYSE:CATFree Report) by 3.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 7,401 shares of the industrial products company’s stock after purchasing an additional 224 shares during the period. Forum Financial Management LP’s holdings in Caterpillar were worth $2,873,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of CAT. Aire Advisors LLC lifted its stake in shares of Caterpillar by 0.3% in the 2nd quarter. Aire Advisors LLC now owns 9,042 shares of the industrial products company’s stock worth $3,510,000 after acquiring an additional 25 shares during the period. Dumont & Blake Investment Advisors LLC lifted its stake in shares of Caterpillar by 0.5% in the 2nd quarter. Dumont & Blake Investment Advisors LLC now owns 4,954 shares of the industrial products company’s stock worth $1,923,000 after acquiring an additional 25 shares during the period. GSB Wealth Management LLC lifted its stake in shares of Caterpillar by 1.2% in the 2nd quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company’s stock worth $832,000 after acquiring an additional 26 shares during the period. Verum Partners LLC lifted its stake in shares of Caterpillar by 2.5% in the 2nd quarter. Verum Partners LLC now owns 1,059 shares of the industrial products company’s stock worth $411,000 after acquiring an additional 26 shares during the period. Finally, Vanguard Capital Wealth Advisors lifted its stake in shares of Caterpillar by 0.8% in the 2nd quarter. Vanguard Capital Wealth Advisors now owns 3,575 shares of the industrial products company’s stock worth $1,388,000 after acquiring an additional 27 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Stock Down 2.1%

Shares of NYSE:CAT opened at $513.70 on Thursday. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. The company has a fifty day simple moving average of $460.10 and a 200 day simple moving average of $394.97. The firm has a market cap of $240.66 billion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 2.99 and a beta of 1.46. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $544.99.

Caterpillar (NYSE:CATGet Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) 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 the consensus estimate of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter last year, the firm posted $5.99 EPS. On average, equities research analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors 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 dividend yield of 1.2%. The ex-dividend date is Monday, October 20th. Caterpillar’s payout ratio is 30.72%.

Insider Buying and Selling

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of the business’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the sale, the director 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jason Kaiser sold 2,161 shares of the business’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the sale, the insider owned 8,632 shares of the company’s stock, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,985 shares of company stock worth $25,559,300. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CAT shares. Barclays raised their target price on shares of Caterpillar from $425.00 to $485.00 and gave the stock an “equal weight” rating in a research note on Friday, October 17th. Melius upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price objective for the company in a research note on Wednesday, July 9th. Sanford C. Bernstein raised their price objective on shares of Caterpillar from $447.00 to $502.00 and gave the company a “market perform” rating in a research note on Tuesday, October 14th. Robert W. Baird raised their price objective on shares of Caterpillar from $540.00 to $612.00 in a research note on Monday. Finally, Erste Group Bank upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $518.19.

Read Our Latest Research Report on CAT

About Caterpillar

(Free Report)

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.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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