Claro Advisors LLC Has $4.75 Million Position in Caterpillar Inc. (NYSE:CAT)

Claro Advisors LLC increased its stake in Caterpillar Inc. (NYSE:CAT) by 649.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 12,135 shares of the industrial products company’s stock after purchasing an additional 10,516 shares during the quarter. Claro Advisors LLC’s holdings in Caterpillar were worth $4,746,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Thompson Investment Management Inc. bought a new position in Caterpillar in the 1st quarter worth approximately $27,000. Bbjs Financial Advisors LLC bought a new position in Caterpillar in the 2nd quarter worth approximately $28,000. Financial Connections Group Inc. bought a new position in Caterpillar in the 2nd quarter worth approximately $28,000. Fairman Group LLC bought a new stake in shares of Caterpillar during the first quarter valued at approximately $29,000. Finally, Fairscale Capital LLC bought a new stake in shares of Caterpillar during the second quarter valued at approximately $36,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CAT has been the topic of a number of research reports. Morgan Stanley cut Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $349.00 to $332.00 in a research report on Monday. Bank of America boosted their price objective on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Barclays boosted their price objective on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price target on Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Raymond James started coverage on Caterpillar in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $355.50.

Caterpillar Stock Down 0.8 %

CAT traded down $3.15 during mid-day trading on Friday, reaching $391.34. 283,986 shares of the stock were exchanged, compared to its average volume of 2,630,107. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28. The stock has a market capitalization of $191.39 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. The company has a 50 day moving average price of $362.75 and a two-hundred day moving average price of $350.23. Caterpillar Inc. has a 1 year low of $223.76 and a 1 year high of $403.60.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 16.58% and a return on equity of 59.88%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $5.55 EPS. As a group, research analysts anticipate that Caterpillar Inc. will post 21.91 EPS for the current year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be paid a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Monday, October 21st. Caterpillar’s dividend payout ratio is currently 25.46%.

Insider Activity at Caterpillar

In other news, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were acquired at an average price of $338.59 per share, with a total value of $33,859.00. Following the acquisition, the director now owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the transaction, the insider now owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gerald Johnson bought 100 shares of Caterpillar stock in a transaction that occurred on Wednesday, September 4th. The shares were acquired at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the acquisition, the director now owns 2,842 shares in the company, valued at $962,272.78. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.33% of the stock is owned by corporate insiders.

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.