Bank of Jackson Hole Trust Purchases 345 Shares of Caterpillar Inc. $CAT

Bank of Jackson Hole Trust increased its position in shares of Caterpillar Inc. (NYSE:CAT) by 20.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,023 shares of the industrial products company’s stock after acquiring an additional 345 shares during the period. Bank of Jackson Hole Trust’s holdings in Caterpillar were worth $785,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mid American Wealth Advisory Group Inc. bought a new stake in shares of Caterpillar in the 2nd quarter valued at about $28,000. Compass Financial Services Inc grew its position in shares of Caterpillar by 49.2% in the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock valued at $31,000 after buying an additional 31 shares during the last quarter. Family Legacy Financial Solutions LLC bought a new stake in shares of Caterpillar in the 2nd quarter valued at about $32,000. Redmont Wealth Advisors LLC bought a new stake in shares of Caterpillar in the 1st quarter valued at about $33,000. Finally, Harbor Asset Planning Inc. bought a new stake in shares of Caterpillar in the 2nd quarter valued at about $34,000. Institutional investors own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

CAT has been the topic of a number of analyst reports. Oppenheimer upped their price target on Caterpillar from $480.00 to $513.00 and gave the company an “outperform” rating in a research report on Monday, September 29th. DA Davidson upped their price target on Caterpillar from $331.00 to $388.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Sanford C. Bernstein upped their target price on Caterpillar from $447.00 to $502.00 and gave the company a “market perform” rating in a research report on Tuesday, October 14th. UBS Group upped their target price on Caterpillar from $450.00 to $506.00 and gave the company a “neutral” rating in a research report on Monday, October 13th. Finally, Bank of America upped their target price on Caterpillar from $517.00 to $594.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $518.19.

Insider Buying and Selling

In related news, insider Jason Kaiser sold 2,161 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the transaction, the insider directly owned 8,632 shares of the company’s stock, valued at approximately $3,605,586.40. This represents a 20.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $412.87, for a total value of $7,088,152.16. Following the transaction, the chairman directly owned 482,505 shares in the company, valued at approximately $199,211,839.35. This trade represents a 3.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 55,985 shares of company stock valued at $25,559,300. 0.33% of the stock is owned by company insiders.

Caterpillar Stock Down 0.4%

Shares of Caterpillar stock opened at $524.86 on Wednesday. The stock’s 50-day moving average is $468.92 and its 200 day moving average is $403.15. Caterpillar Inc. has a one year low of $267.30 and a one year high of $544.99. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. The firm has a market cap of $245.89 billion, a price-to-earnings ratio of 26.70, a PEG ratio of 3.00 and a beta of 1.46.

Caterpillar (NYSE:CAT) last posted its quarterly 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). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The firm had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. During the same period last year, the company posted $5.99 earnings per share. The firm’s quarterly revenue was down .7% compared to the same quarter last year. Equities research analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The company 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 dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s dividend payout ratio is 30.72%.

About Caterpillar

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.