Essex Financial Services Inc. Has $1.27 Million Stake in Caterpillar Inc. (CAT)

Essex Financial Services Inc. lessened its position in Caterpillar Inc. (NYSE:CAT) by 15.0% in the 4th quarter, Holdings Channel reports. The fund owned 8,028 shares of the industrial products company’s stock after selling 1,413 shares during the period. Essex Financial Services Inc.’s holdings in Caterpillar were worth $1,265,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Gradient Investments LLC bought a new stake in shares of Caterpillar in the 4th quarter worth about $113,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Caterpillar in the 4th quarter worth about $131,000. Sandy Spring Bank lifted its holdings in shares of Caterpillar by 61.9% in the 4th quarter. Sandy Spring Bank now owns 981 shares of the industrial products company’s stock worth $155,000 after acquiring an additional 375 shares during the last quarter. Acrospire Investment Management LLC lifted its holdings in shares of Caterpillar by 900.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the industrial products company’s stock worth $107,000 after acquiring an additional 900 shares during the last quarter. Finally, Verde Servicos Internacionais S.A. bought a new stake in shares of Caterpillar in the 4th quarter worth about $156,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Caterpillar Inc. (NYSE:CAT) opened at $153.97 on Wednesday. The company has a current ratio of 1.35, a quick ratio of 0.97 and a debt-to-equity ratio of 1.73. The company has a market cap of $91,600.00, a PE ratio of 122.20, a price-to-earnings-growth ratio of 1.63 and a beta of 1.22. Caterpillar Inc. has a 12-month low of $90.34 and a 12-month high of $173.24.

Caterpillar (NYSE:CAT) last posted its earnings results on Thursday, January 25th. The industrial products company reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.39. The business had revenue of $12.90 billion for the quarter, compared to the consensus estimate of $12.01 billion. Caterpillar had a net margin of 1.66% and a return on equity of 28.69%. The company’s revenue for the quarter was up 34.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.83 EPS. equities research analysts expect that Caterpillar Inc. will post 9.05 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 20th. Shareholders of record on Monday, January 22nd will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Friday, January 19th. Caterpillar’s dividend payout ratio (DPR) is 247.62%.

In other Caterpillar news, General Counsel Suzette M. Long sold 528 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $160.46, for a total transaction of $84,722.88. Following the transaction, the general counsel now owns 19,646 shares of the company’s stock, valued at approximately $3,152,397.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas A. Pellette sold 95,199 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $163.09, for a total transaction of $15,526,004.91. Following the transaction, the insider now directly owns 96,268 shares in the company, valued at approximately $15,700,348.12. The disclosure for this sale can be found here. Insiders have sold a total of 143,331 shares of company stock worth $22,107,578 in the last three months. Insiders own 0.14% of the company’s stock.

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Caterpillar in a report on Monday. Vetr lowered shares of Caterpillar from a “strong-buy” rating to a “buy” rating and set a $166.15 price objective for the company. in a report on Tuesday. TheStreet lowered shares of Caterpillar from a “b” rating to a “c+” rating in a report on Thursday, February 8th. Argus upgraded shares of Caterpillar to a “buy” rating in a report on Friday, February 2nd. Finally, ValuEngine upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $167.60.

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Caterpillar Company Profile

Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through segments, including Construction Industries, which is engaged in supporting customers using machinery in infrastructure, forestry and building construction; Resource Industries, which is engaged in supporting customers using machinery in mining, quarry, waste and material handling applications; Energy & Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Cat machines; Financial Products segment, which provides financing and related services, and All Other operating segments, which includes activities, such as product management and development, and manufacturing of filters and fluids, undercarriage, tires and rims, ground engaging tools, fluid transfer products, and sealing and connecting components for Cat products.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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