Caterpillar Inc. (NYSE:CAT) Shares Sold by AdvisorNet Financial Inc

AdvisorNet Financial Inc reduced its stake in shares of Caterpillar Inc. (NYSE:CAT) by 9.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 5,547 shares of the industrial products company’s stock after selling 571 shares during the quarter. AdvisorNet Financial Inc’s holdings in Caterpillar were worth $2,012,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fairscale Capital LLC bought a new position in Caterpillar during the 2nd quarter worth approximately $36,000. Capital Performance Advisors LLP bought a new position in Caterpillar during the third quarter worth $36,000. Kimelman & Baird LLC increased its stake in Caterpillar by 42.9% during the third quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 30 shares during the last quarter. HWG Holdings LP acquired a new stake in shares of Caterpillar during the second quarter worth $54,000. Finally, SOA Wealth Advisors LLC. lifted its position in shares of Caterpillar by 47.2% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 156 shares of the industrial products company’s stock worth $61,000 after buying an additional 50 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Insiders Place Their Bets

In other news, CAO William E. Schaupp sold 968 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $380.98, for a total value of $368,788.64. Following the transaction, the chief accounting officer now owns 1,686 shares in the company, valued at $642,332.28. This represents a 36.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gerald Johnson purchased 100 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were bought at an average price of $398.57 per share, with a total value of $39,857.00. Following the completion of the acquisition, the director now owns 2,953 shares of the company’s stock, valued at $1,176,977.21. This trade represents a 3.51 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 23,868 shares of company stock worth $9,679,489. 0.29% of the stock is owned by insiders.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $370.79 on Wednesday. Caterpillar Inc. has a 12 month low of $276.94 and a 12 month high of $418.50. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86. The stock’s 50 day moving average price is $381.63 and its 200 day moving average price is $366.20. The stock has a market cap of $179.02 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 1.88 and a beta of 1.13.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The business had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. During the same quarter last year, the firm posted $5.52 earnings per share. Caterpillar’s revenue was down 4.2% compared to the same quarter last year. Equities research analysts anticipate that Caterpillar Inc. will post 21.68 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be issued a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date is Tuesday, January 21st. Caterpillar’s payout ratio is 26.15%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CAT shares. Morgan Stanley cut shares of Caterpillar from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $349.00 to $332.00 in a report on Monday, October 14th. Citigroup cut their target price on Caterpillar from $460.00 to $420.00 and set a “buy” rating on the stock in a research note on Tuesday. Bank of America increased their price objective on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a report on Monday, September 30th. JPMorgan Chase & Co. boosted their target price on shares of Caterpillar from $500.00 to $515.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Finally, Jefferies Financial Group raised their price target on shares of Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $381.67.

About Caterpillar

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.