KPP Advisory Services LLC Takes $231,000 Position in Caterpillar Inc. (NYSE:CAT)

KPP Advisory Services LLC bought a new position in Caterpillar Inc. (NYSE:CAT) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 590 shares of the industrial products company’s stock, valued at approximately $231,000.

Several other institutional investors have also added to or reduced their stakes in the company. Acadian Asset Management LLC increased its holdings in Caterpillar by 17.2% during the 1st quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock valued at $3,308,000 after purchasing an additional 1,327 shares during the period. Alpha Cubed Investments LLC lifted its stake in Caterpillar by 5.6% in the third quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock worth $45,591,000 after acquiring an additional 6,212 shares during the period. First Affirmative Financial Network bought a new stake in Caterpillar in the third quarter valued at $204,000. Inspire Advisors LLC increased its position in Caterpillar by 25.8% during the 3rd quarter. Inspire Advisors LLC now owns 8,266 shares of the industrial products company’s stock valued at $3,233,000 after purchasing an additional 1,694 shares during the period. Finally, Jackson Square Capital LLC raised its holdings in Caterpillar by 33.7% in the 3rd quarter. Jackson Square Capital LLC now owns 16,581 shares of the industrial products company’s stock worth $6,485,000 after purchasing an additional 4,182 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

Shares of CAT opened at $384.07 on Friday. The firm has a market cap of $185.43 billion, a PE ratio of 17.81, a P/E/G ratio of 1.91 and a beta of 1.10. Caterpillar Inc. has a 1-year low of $241.81 and a 1-year high of $418.50. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. The firm has a fifty day simple moving average of $381.86 and a two-hundred day simple moving average of $354.07.

Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The firm had revenue of $16.11 billion during the quarter, compared to analysts’ expectations of $16.37 billion. During the same period in the previous year, the business posted $5.52 earnings per share. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, equities analysts anticipate that Caterpillar Inc. will post 21.69 EPS for the current year.

Caterpillar Announces Dividend

The firm 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. This represents a $5.64 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Monday, October 21st. Caterpillar’s dividend payout ratio is presently 26.15%.

Analysts Set New Price Targets

A number of research firms have recently commented on CAT. Citigroup lowered their target price on Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Robert W. Baird lifted their price target on shares of Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. Evercore ISI cut shares of Caterpillar from an “in-line” rating to an “underperform” rating and upped their price objective for the stock from $321.00 to $365.00 in a report on Wednesday. Barclays lifted their target price on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. Finally, Morgan Stanley lowered Caterpillar from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $349.00 to $332.00 in a research report on Monday, October 14th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $365.33.

Insider Transactions at Caterpillar

In other news, insider Cheryl H. Johnson sold 2,975 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total value of $1,018,878.00. Following the transaction, the insider now owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. The trade was a 16.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lange Bob De sold 12,657 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the transaction, the insider now directly owns 71,107 shares of the company’s stock, valued at $29,171,646.75. This trade represents a 15.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,749 shares of company stock worth $9,251,912 in the last three months. Corporate insiders own 0.29% of the company’s stock.

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.