Janney Montgomery Scott LLC Reduces Position in Caterpillar Inc. (CAT)

Janney Montgomery Scott LLC lowered its stake in Caterpillar Inc. (NYSE:CAT) by 1.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 167,689 shares of the industrial products company’s stock after selling 2,267 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Caterpillar were worth $25,571,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CAT. RPG Investment Advisory LLC boosted its stake in shares of Caterpillar by 19.2% during the 3rd quarter. RPG Investment Advisory LLC now owns 51,415 shares of the industrial products company’s stock worth $7,840,000 after acquiring an additional 8,286 shares during the last quarter. Psagot Investment House Ltd. purchased a new position in shares of Caterpillar during the 3rd quarter worth $136,000. Bigelow Investment Advisors LLC purchased a new position in shares of Caterpillar during the 3rd quarter worth $215,000. Warren Averett Asset Management LLC boosted its stake in shares of Caterpillar by 6.0% during the 3rd quarter. Warren Averett Asset Management LLC now owns 8,988 shares of the industrial products company’s stock worth $1,371,000 after acquiring an additional 510 shares during the last quarter. Finally, Gulf International Bank UK Ltd boosted its stake in shares of Caterpillar by 5.5% during the 3rd quarter. Gulf International Bank UK Ltd now owns 203,735 shares of the industrial products company’s stock worth $31,067,000 after acquiring an additional 10,640 shares during the last quarter. Institutional investors own 66.56% of the company’s stock.

In other news, insider Lange Bob De purchased 1,080 shares of the company’s stock in a transaction that occurred on Friday, October 26th. The stock was purchased at an average cost of $115.58 per share, with a total value of $124,826.40. Following the purchase, the insider now owns 11,310 shares in the company, valued at $1,307,209.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Denise C. Johnson sold 35,051 shares of Caterpillar stock in a transaction dated Tuesday, October 2nd. The stock was sold at an average price of $154.18, for a total transaction of $5,404,163.18. Following the transaction, the insider now directly owns 22,826 shares of the company’s stock, valued at $3,519,312.68. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by insiders.

Shares of NYSE:CAT opened at $131.39 on Friday. Caterpillar Inc. has a 52 week low of $112.06 and a 52 week high of $173.24. The firm has a market capitalization of $76.32 billion, a price-to-earnings ratio of 19.10, a price-to-earnings-growth ratio of 0.71 and a beta of 1.58. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.48 and a quick ratio of 1.02.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, October 23rd. The industrial products company reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.83 by $0.03. Caterpillar had a net margin of 7.13% and a return on equity of 44.13%. The business had revenue of $13.51 billion during the quarter, compared to analysts’ expectations of $13.28 billion. During the same period last year, the company posted $1.95 EPS. The business’s revenue was up 18.4% on a year-over-year basis. As a group, research analysts expect that Caterpillar Inc. will post 11.64 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 20th. Investors of record on Monday, October 22nd will be paid a dividend of $0.86 per share. The ex-dividend date is Friday, October 19th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.62%. Caterpillar’s dividend payout ratio is presently 50.00%.

Several research analysts have recently weighed in on the stock. Macquarie set a $130.00 price target on shares of Caterpillar and gave the stock a “sell” rating in a research note on Tuesday, September 25th. Robert W. Baird set a $171.00 price target on shares of Caterpillar and gave the stock a “buy” rating in a research note on Wednesday, October 24th. BMO Capital Markets dropped their price target on shares of Caterpillar from $195.00 to $185.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 31st. They noted that the move was a valuation call. Oppenheimer assumed coverage on shares of Caterpillar in a research note on Friday, September 7th. They set a “market perform” rating on the stock. They noted that the move was a valuation call. Finally, OTR Global cut shares of Caterpillar to a “positive” rating in a research note on Friday, September 21st. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. Caterpillar has a consensus rating of “Buy” and a consensus price target of $158.55.

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Caterpillar Profile

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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