Checchi Capital Advisers LLC Reduces Holdings in Caterpillar Inc. (NYSE:CAT)

Checchi Capital Advisers LLC trimmed its position in shares of Caterpillar Inc. (NYSE:CAT) by 2.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,074 shares of the industrial products company’s stock after selling 130 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Caterpillar were worth $641,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Morgan Stanley increased its position in shares of Caterpillar by 4.2% during the second quarter. Morgan Stanley now owns 4,367,073 shares of the industrial products company’s stock worth $595,189,000 after purchasing an additional 174,165 shares in the last quarter. Manning & Napier Group LLC boosted its stake in Caterpillar by 30.4% during the second quarter. Manning & Napier Group LLC now owns 152,404 shares of the industrial products company’s stock worth $20,770,000 after buying an additional 35,530 shares during the last quarter. Atalanta Sosnoff Capital LLC boosted its stake in Caterpillar by 3.6% during the second quarter. Atalanta Sosnoff Capital LLC now owns 3,487 shares of the industrial products company’s stock worth $475,000 after buying an additional 120 shares during the last quarter. Krueger & Catalano Capital Partners LLC boosted its stake in Caterpillar by 6.4% during the second quarter. Krueger & Catalano Capital Partners LLC now owns 4,892 shares of the industrial products company’s stock worth $667,000 after buying an additional 293 shares during the last quarter. Finally, Cahill Financial Advisors Inc. boosted its stake in Caterpillar by 2.7% during the second quarter. Cahill Financial Advisors Inc. now owns 8,240 shares of the industrial products company’s stock worth $1,124,000 after buying an additional 218 shares during the last quarter. Hedge funds and other institutional investors own 66.87% of the company’s stock.

In other news, General Counsel Suzette M. Long sold 5,019 shares of the company’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $126.34, for a total value of $634,100.46. Following the transaction, the general counsel now owns 12,569 shares of the company’s stock, valued at approximately $1,587,967.46. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Denise C. Johnson sold 14,777 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $140.00, for a total value of $2,068,780.00. Following the completion of the transaction, the insider now directly owns 26,464 shares in the company, valued at approximately $3,704,960. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,141 shares of company stock worth $13,717,142. Corporate insiders own 0.37% of the company’s stock.

CAT has been the topic of a number of recent research reports. Citigroup lowered their price objective on Caterpillar from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Bank of America boosted their price objective on Caterpillar from $154.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Credit Suisse Group reissued a “buy” rating and set a $150.00 price objective on shares of Caterpillar in a research note on Thursday, October 24th. Morgan Stanley lowered their price objective on Caterpillar from $145.00 to $132.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Finally, Cleveland Research reissued a “hold” rating on shares of Caterpillar in a research note on Monday, September 30th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $138.76.

Shares of Caterpillar stock opened at $144.49 on Thursday. Caterpillar Inc. has a 52 week low of $111.75 and a 52 week high of $148.47. The business’s fifty day simple moving average is $133.14 and its 200-day simple moving average is $129.19. The firm has a market cap of $81.79 billion, a PE ratio of 12.88, a price-to-earnings-growth ratio of 1.56 and a beta of 1.53. The company has a quick ratio of 0.99, a current ratio of 1.44 and a debt-to-equity ratio of 1.71.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.66 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.82 by ($0.16). Caterpillar had a net margin of 10.99% and a return on equity of 42.51%. The business had revenue of $12.76 billion during the quarter, compared to analyst estimates of $13.49 billion. During the same period last year, the company earned $2.86 EPS. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. As a group, equities analysts expect that Caterpillar Inc. will post 10.87 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Friday, October 18th. Caterpillar’s dividend payout ratio (DPR) is presently 36.72%.

About Caterpillar

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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