Edgestream Partners L.P. Decreases Holdings in Caterpillar Inc. $CAT

Edgestream Partners L.P. reduced its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 36.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,730 shares of the industrial products company’s stock after selling 6,866 shares during the quarter. Edgestream Partners L.P.’s holdings in Caterpillar were worth $4,554,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the business. Shelton Capital Management raised its holdings in Caterpillar by 21.2% during the second quarter. Shelton Capital Management now owns 42,445 shares of the industrial products company’s stock worth $16,478,000 after purchasing an additional 7,422 shares in the last quarter. Smith Moore & CO. grew its position in shares of Caterpillar by 7.3% in the 2nd quarter. Smith Moore & CO. now owns 11,622 shares of the industrial products company’s stock valued at $4,512,000 after buying an additional 792 shares during the last quarter. Okabena Investment Services Inc. raised its stake in Caterpillar by 7.4% during the 2nd quarter. Okabena Investment Services Inc. now owns 1,095 shares of the industrial products company’s stock worth $425,000 after acquiring an additional 75 shares in the last quarter. VestGen Advisors LLC lifted its position in Caterpillar by 7.0% in the second quarter. VestGen Advisors LLC now owns 10,928 shares of the industrial products company’s stock valued at $4,373,000 after acquiring an additional 714 shares during the last quarter. Finally, Greenwich Wealth Management LLC boosted its stake in Caterpillar by 1.2% in the second quarter. Greenwich Wealth Management LLC now owns 2,546 shares of the industrial products company’s stock valued at $988,000 after acquiring an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $582.68 on Wednesday. The firm has a market capitalization of $272.68 billion, a price-to-earnings ratio of 29.91, a price-to-earnings-growth ratio of 2.68 and a beta of 1.57. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.38 and a quick ratio of 0.86. The business’s 50 day simple moving average is $534.56 and its 200-day simple moving average is $447.95. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $596.21.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share for the quarter, beating the consensus estimate of $4.52 by $0.43. The firm had revenue of $17.64 billion during the quarter, compared to the consensus estimate of $16.72 billion. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.Caterpillar’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the business posted $5.17 EPS. As a group, equities analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Monday, October 20th were given a $1.51 dividend. The ex-dividend date was Monday, October 20th. This represents a $6.04 annualized dividend and a dividend yield of 1.0%. Caterpillar’s payout ratio is currently 31.01%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Robert W. Baird boosted their target price on Caterpillar from $612.00 to $680.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Jefferies Financial Group boosted their price objective on Caterpillar from $570.00 to $700.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. JPMorgan Chase & Co. raised their target price on shares of Caterpillar from $650.00 to $730.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Evercore ISI upped their price target on shares of Caterpillar from $476.00 to $630.00 and gave the company an “outperform” rating in a research report on Monday, November 17th. Finally, Wells Fargo & Company began coverage on shares of Caterpillar in a research report on Thursday, November 13th. They set an “overweight” rating and a $675.00 price objective on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $610.32.

Insider Transactions at Caterpillar

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $571.44, for a total value of $5,714,400.00. Following the sale, the chief financial officer owned 55,460 shares of the company’s stock, valued at $31,692,062.40. This represents a 15.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anthony D. Fassino sold 8,184 shares of Caterpillar stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $570.18, for a total value of $4,666,353.12. Following the transaction, the insider owned 41,512 shares of the company’s stock, valued at $23,669,312.16. This represents a 16.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 79,061 shares of company stock worth $41,949,366 in the last 90 days. Insiders own 0.33% of the company’s stock.

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.