Jacobs & Co. CA Grows Position in Caterpillar Inc. (NYSE:CAT)

Jacobs & Co. CA increased its position in shares of Caterpillar Inc. (NYSE:CAT) by 5.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 35,014 shares of the industrial products company’s stock after buying an additional 1,829 shares during the period. Jacobs & Co. CA’s holdings in Caterpillar were worth $4,422,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CAT. Tortoise Investment Management LLC boosted its holdings in Caterpillar by 3,600.0% in the second quarter. Tortoise Investment Management LLC now owns 185 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 180 shares in the last quarter. Prestige Wealth Management Group LLC acquired a new stake in shares of Caterpillar in the second quarter valued at approximately $27,000. Private Ocean LLC boosted its holdings in shares of Caterpillar by 62.9% in the third quarter. Private Ocean LLC now owns 259 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 100 shares during the period. G&S Capital LLC acquired a new stake in shares of Caterpillar in the third quarter valued at approximately $38,000. Finally, Kavar Capital Partners LLC acquired a new stake in shares of Caterpillar in the second quarter valued at approximately $46,000. Hedge funds and other institutional investors own 65.74% of the company’s stock.

Shares of NYSE CAT traded up $1.15 during mid-day trading on Friday, hitting $148.16. 2,714,785 shares of the company were exchanged, compared to its average volume of 4,321,513. The company has a quick ratio of 0.99, a current ratio of 1.44 and a debt-to-equity ratio of 1.71. The stock has a 50 day simple moving average of $131.66 and a 200-day simple moving average of $129.08. Caterpillar Inc. has a 1-year low of $111.75 and a 1-year high of $148.40. The firm has a market cap of $80.89 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 1.54 and a beta of 1.53.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.66 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.82 by ($0.16). Caterpillar had a return on equity of 42.51% and a net margin of 10.99%. The company had revenue of $12.76 billion for the quarter, compared to analyst estimates of $13.49 billion. During the same period in the prior year, the business earned $2.86 earnings per share. Caterpillar’s revenue for the quarter was down 5.6% compared to the same quarter last year. Analysts anticipate that Caterpillar Inc. will post 10.89 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend is Friday, October 18th. Caterpillar’s dividend payout ratio is presently 36.72%.

In related news, CAO Gary Michael Marvel sold 2,180 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $139.38, for a total transaction of $303,848.40. Following the completion of the sale, the chief accounting officer now directly owns 2,180 shares of the company’s stock, valued at $303,848.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Denise C. Johnson sold 14,777 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $140.00, for a total value of $2,068,780.00. Following the sale, the insider now directly owns 26,464 shares of the company’s stock, valued at $3,704,960. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 95,141 shares of company stock valued at $13,717,142. Corporate insiders own 0.37% of the company’s stock.

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada reissued a “hold” rating on shares of Caterpillar in a report on Wednesday, August 14th. Wells Fargo & Co downgraded Caterpillar from an “outperform” rating to a “market perform” rating and set a $143.00 price objective for the company. in a report on Wednesday, September 11th. Goldman Sachs Group increased their price objective on Caterpillar from $130.00 to $156.00 and gave the company a “neutral” rating in a report on Friday. Credit Suisse Group reissued a “buy” rating and issued a $150.00 price objective on shares of Caterpillar in a report on Thursday, October 24th. Finally, Citigroup decreased their price objective on Caterpillar from $150.00 to $145.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $138.76.

Caterpillar Profile

Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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