Planning Capital Management Corp Boosts Stake in Caterpillar Inc. (NYSE:CAT)

Planning Capital Management Corp raised its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 127.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,218 shares of the industrial products company’s stock after acquiring an additional 1,801 shares during the period. Planning Capital Management Corp’s holdings in Caterpillar were worth $1,259,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CAT. Bbjs Financial Advisors LLC bought a new stake in shares of Caterpillar in the 2nd quarter valued at about $28,000. Financial Connections Group Inc. bought a new stake in shares of Caterpillar in the 2nd quarter valued at about $28,000. Fairscale Capital LLC bought a new stake in shares of Caterpillar in the 2nd quarter valued at about $36,000. Capital Performance Advisors LLP bought a new stake in shares of Caterpillar in the 3rd quarter valued at about $36,000. Finally, POM Investment Strategies LLC lifted its stake in shares of Caterpillar by 2,160.0% in the 2nd quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 108 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CAT shares. Bank of America boosted their price target on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a report on Monday, September 30th. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Citigroup reduced their price target on Caterpillar from $445.00 to $435.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Barclays boosted their price target on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. Finally, UBS Group boosted their price target on Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a report on Monday, November 4th. Four 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. According to MarketBeat.com, Caterpillar currently has an average rating of “Hold” and a consensus price target of $365.33.

Caterpillar Stock Performance

Caterpillar stock opened at $387.16 on Thursday. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. The company has a market capitalization of $186.92 billion, a P/E ratio of 17.95, a PEG ratio of 1.94 and a beta of 1.10. The stock’s 50 day moving average is $378.67 and its 200 day moving average is $353.36. Caterpillar Inc. has a twelve month low of $241.81 and a twelve month high of $418.50.

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

Caterpillar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be given a $1.41 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 annualized dividend and a yield of 1.46%. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

Insider Activity at Caterpillar

In related news, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. 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 hyperlink. In other news, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction 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 transaction, the insider now directly owns 15,615 shares of the company’s stock, valued at $5,347,825.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the transaction, the insider now directly owns 33,442 shares in the company, valued at $11,750,181.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,749 shares of company stock valued at $9,251,912. 0.29% of the stock is owned by corporate insiders.

Caterpillar Company 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.