Lake Street Advisors Group LLC Has $3.31 Million Stake in Caterpillar Inc. (NYSE:CAT)

Lake Street Advisors Group LLC lowered its position in shares of Caterpillar Inc. (NYSE:CAT) by 47.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,454 shares of the industrial products company’s stock after selling 7,682 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Caterpillar were worth $3,307,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Bbjs Financial Advisors LLC purchased a new position in Caterpillar in the second quarter worth $28,000. Financial Connections Group Inc. bought a new position in shares of Caterpillar during the second quarter valued at about $28,000. Fairman Group LLC bought a new position in shares of Caterpillar during the first quarter valued at about $29,000. Fairscale Capital LLC bought a new position in Caterpillar in the second quarter worth about $36,000. Finally, POM Investment Strategies LLC raised its stake in Caterpillar by 2,160.0% in the second quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock worth $38,000 after buying an additional 108 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the business’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 value of $1,119,081.60. Following the sale, the insider now owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Cheryl H. Johnson sold 2,975 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total value of $1,018,878.00. Following the completion of the sale, the insider now directly owns 15,615 shares in the company, valued at approximately $5,347,825.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is owned by insiders.

Caterpillar Stock Up 0.6 %

Shares of CAT stock traded up $2.48 on Friday, hitting $389.54. The stock had a trading volume of 225,494 shares, compared to its average volume of 2,615,905. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39. Caterpillar Inc. has a one year low of $223.76 and a one year high of $403.60. The business has a 50 day moving average price of $367.72 and a 200 day moving average price of $350.86. The company has a market cap of $190.51 billion, a PE ratio of 17.46, a P/E/G ratio of 1.85 and a beta of 1.10.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. The company had revenue of $16.69 billion during the quarter, compared to analysts’ expectations of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The firm’s revenue was down 3.6% compared to the same quarter last year. During the same period last year, the business posted $5.55 earnings per share. Research analysts anticipate that Caterpillar Inc. will post 21.91 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

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 $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s dividend payout ratio is currently 25.46%.

Wall Street Analysts Forecast Growth

CAT has been the topic of a number of recent research reports. StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Morgan Stanley downgraded shares of Caterpillar from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $349.00 to $332.00 in a research report on Monday, October 14th. Barclays raised their price target on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. Citigroup raised their price target on shares of Caterpillar from $380.00 to $445.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Raymond James initiated coverage on shares of Caterpillar in a research report on Friday, June 28th. They issued a “market perform” rating for the company. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $355.50.

Caterpillar 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.