Hourglass Capital LLC Decreases Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Hourglass Capital LLC trimmed its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 5.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 872 shares of the industrial products company’s stock after selling 50 shares during the quarter. Hourglass Capital LLC’s holdings in Caterpillar were worth $341,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Acadian Asset Management LLC lifted its stake in shares of Caterpillar by 17.2% during the 1st quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock worth $3,308,000 after acquiring an additional 1,327 shares during the last quarter. Alpha Cubed Investments LLC boosted its stake in shares of Caterpillar by 5.6% during the third quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock valued at $45,591,000 after purchasing an additional 6,212 shares during the period. First Affirmative Financial Network bought a new stake in Caterpillar during the 3rd quarter valued at about $204,000. Inspire Advisors LLC grew its stake in Caterpillar by 25.8% in the third 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 last quarter. Finally, Jackson Square Capital LLC boosted its holdings in shares of Caterpillar by 33.7% in the 3rd quarter. Jackson Square Capital LLC now owns 16,581 shares of the industrial products company’s stock valued at $6,485,000 after buying an additional 4,182 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Down 1.5 %

NYSE CAT opened at $387.16 on Thursday. The business has a fifty day moving average price of $378.67 and a 200 day moving average price of $353.36. The company has a market cap of $186.92 billion, a P/E ratio of 17.95, a P/E/G ratio of 1.94 and a beta of 1.10. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40. Caterpillar Inc. has a one year low of $241.81 and a one year high of $418.50.

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

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be given a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Monday, October 21st. Caterpillar’s payout ratio is 26.15%.

Insider Transactions at Caterpillar

In other Caterpillar news, insider Lange Bob De sold 12,657 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 71,107 shares in the company, valued at $29,171,646.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Lange Bob De sold 12,657 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $410.25, for a total value of $5,192,534.25. Following the transaction, the insider now owns 71,107 shares in the company, valued at approximately $29,171,646.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the sale, the insider now directly owns 15,615 shares in the company, valued at approximately $5,347,825.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,749 shares of company stock worth $9,251,912 over the last ninety days. Company insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CAT. Morgan Stanley downgraded shares of Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $349.00 to $332.00 in a research note on Monday, October 14th. Bank of America upped their price target on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. upped their price objective on shares of Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Evercore ISI cut shares of Caterpillar from an “in-line” rating to an “underperform” rating and raised their target price for the stock from $321.00 to $365.00 in a report on Wednesday. Finally, Barclays increased their price target on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Caterpillar currently has a consensus rating of “Hold” and a consensus price target of $365.33.

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.