Cobblestone Capital Advisors LLC NY Sells 350 Shares of Caterpillar Inc. (NYSE:CAT)

Cobblestone Capital Advisors LLC NY decreased its stake in Caterpillar Inc. (NYSE:CAT) by 7.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,276 shares of the industrial products company’s stock after selling 350 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Caterpillar were worth $1,424,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CAT. Partnership Wealth Management LLC purchased a new position in Caterpillar in the fourth quarter valued at approximately $26,000. Richardson Financial Services Inc. bought a new position in shares of Caterpillar during the 4th quarter worth $27,000. Thompson Investment Management Inc. purchased a new stake in Caterpillar in the 1st quarter worth about $27,000. Bbjs Financial Advisors LLC bought a new stake in Caterpillar in the 2nd quarter valued at about $28,000. Finally, Financial Connections Group Inc. purchased a new stake in Caterpillar during the second quarter valued at about $28,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Citigroup assumed coverage on shares of Caterpillar in a research note on Wednesday, June 26th. They issued a “buy” rating and a $380.00 target price for the company. Barclays lifted their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Evercore ISI dropped their target price on Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Raymond James initiated coverage on Caterpillar in a research report on Friday, June 28th. They issued a “market perform” rating for the company. Finally, UBS Group increased their price objective on Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Caterpillar currently has a consensus rating of “Hold” and an average price target of $336.31.

Insider Buying and Selling at Caterpillar

In other news, insider Cheryl H. Johnson sold 1,508 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total value of $527,800.00. Following the completion of the sale, the insider now owns 18,515 shares of the company’s stock, valued at approximately $6,480,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Cheryl H. Johnson sold 1,508 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $350.00, for a total transaction of $527,800.00. Following the completion of the sale, the insider now directly owns 18,515 shares in the company, valued at approximately $6,480,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the transaction, the insider now owns 33,442 shares in the company, valued at approximately $11,750,181.12. The disclosure for this sale can be found here. Insiders have sold 7,668 shares of company stock worth $2,665,760 over the last ninety days. Insiders own 0.33% of the company’s stock.

Caterpillar Price Performance

Shares of NYSE:CAT traded down $4.20 during trading on Friday, reaching $329.36. The company had a trading volume of 2,676,623 shares, compared to its average volume of 2,680,938. Caterpillar Inc. has a 12 month low of $223.76 and a 12 month high of $382.01. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. The stock has a market capitalization of $161.07 billion, a P/E ratio of 14.87, a price-to-earnings-growth ratio of 1.66 and a beta of 1.12. The company has a fifty day moving average of $339.86 and a two-hundred day moving average of $343.24.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The business had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $16.91 billion. During the same quarter last year, the business posted $5.55 earnings per share. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. Equities research analysts forecast that Caterpillar Inc. will post 21.87 earnings per share for the current year.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd were paid a $1.41 dividend. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $5.64 annualized dividend and a yield of 1.71%. This is a positive change from Caterpillar’s previous quarterly dividend of $1.30. Caterpillar’s dividend payout ratio is currently 25.46%.

Caterpillar declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, June 12th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to reacquire up to 12.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Caterpillar Company Profile

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.