Folger Nolan Fleming Douglas Capital Management Inc. Sells 1,573 Shares of Caterpillar Inc. (NYSE:CAT)

Folger Nolan Fleming Douglas Capital Management Inc. reduced its position in Caterpillar Inc. (NYSE:CAT) by 4.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 31,675 shares of the industrial products company’s stock after selling 1,573 shares during the period. Caterpillar accounts for 1.2% of Folger Nolan Fleming Douglas Capital Management Inc.’s portfolio, making the stock its 22nd biggest position. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Caterpillar were worth $12,389,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Bbjs Financial Advisors LLC purchased a new stake in shares of Caterpillar in the 2nd quarter worth approximately $28,000. Financial Connections Group Inc. purchased a new stake in Caterpillar during the second quarter worth $28,000. Fairscale Capital LLC purchased a new position in shares of Caterpillar in the 2nd quarter valued at $36,000. POM Investment Strategies LLC raised its position in shares of Caterpillar by 2,160.0% in the 2nd quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 108 shares in the last quarter. Finally, TruNorth Capital Management LLC lifted its stake in shares of Caterpillar by 215.4% during the 2nd quarter. TruNorth Capital Management LLC now owns 123 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 84 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Caterpillar

In other news, Director Gerald Johnson purchased 100 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were purchased at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the acquisition, the director now owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider now owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gerald Johnson acquired 100 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was acquired at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the acquisition, the director now owns 2,842 shares of the company’s stock, valued at $962,272.78. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CAT shares. Citigroup lifted their target price on Caterpillar from $380.00 to $445.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. boosted their price objective on shares of Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. UBS Group upped their price target on Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a research report on Wednesday, August 7th. Finally, 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 note on Monday, August 19th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $355.50.

Caterpillar Stock Down 2.1 %

CAT stock opened at $379.24 on Thursday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78. The firm’s fifty day simple moving average is $371.10 and its 200-day simple moving average is $351.14. Caterpillar Inc. has a 12 month low of $223.76 and a 12 month high of $403.60. The company has a market capitalization of $185.47 billion, a P/E ratio of 17.12, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, topping the consensus estimate of $5.53 by $0.46. The company had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period last year, the firm earned $5.55 EPS. As a group, equities research analysts forecast that Caterpillar Inc. will post 21.91 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be given a $1.41 dividend. The ex-dividend date is Monday, October 21st. This represents a $5.64 annualized dividend and a yield of 1.49%. Caterpillar’s dividend payout ratio is presently 25.46%.

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.