Dearborn Partners LLC Reduces Holdings in Caterpillar Inc. (NYSE:CAT)

Dearborn Partners LLC decreased its position in shares of Caterpillar Inc. (NYSE:CAT) by 1.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 56,672 shares of the industrial products company’s stock after selling 1,051 shares during the quarter. Dearborn Partners LLC’s holdings in Caterpillar were worth $7,169,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of CAT. Oak Asset Management LLC lifted its holdings in shares of Caterpillar by 1.1% during the 2nd quarter. Oak Asset Management LLC now owns 7,447 shares of the industrial products company’s stock valued at $942,000 after acquiring an additional 83 shares in the last quarter. Essex Savings Bank lifted its holdings in shares of Caterpillar by 1.6% during the 2nd quarter. Essex Savings Bank now owns 5,412 shares of the industrial products company’s stock valued at $684,000 after acquiring an additional 83 shares in the last quarter. Coastal Investment Advisors Inc. lifted its holdings in shares of Caterpillar by 2.7% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 3,389 shares of the industrial products company’s stock valued at $429,000 after acquiring an additional 88 shares in the last quarter. Domani Wealth LLC lifted its holdings in shares of Caterpillar by 3.8% during the 1st quarter. Domani Wealth LLC now owns 2,493 shares of the industrial products company’s stock valued at $289,000 after acquiring an additional 91 shares in the last quarter. Finally, Trust Co. of Toledo NA OH lifted its holdings in shares of Caterpillar by 1.3% during the 1st quarter. Trust Co. of Toledo NA OH now owns 7,481 shares of the industrial products company’s stock valued at $868,000 after acquiring an additional 93 shares in the last quarter. 66.80% of the stock is currently owned by institutional investors.

Shares of CAT traded down $3.85 during midday trading on Friday, hitting $132.88. The company had a trading volume of 6,782,180 shares, compared to its average volume of 2,742,059. The company’s 50 day moving average price is $129.98 and its 200 day moving average price is $123.93. The stock has a market cap of $71.92 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 2.20 and a beta of 1.10. Caterpillar Inc. has a 52 week low of $87.50 and a 52 week high of $150.55. The company has a quick ratio of 0.97, a current ratio of 1.42 and a debt-to-equity ratio of 1.71.

Caterpillar (NYSE:CAT) last released its earnings results on Friday, July 31st. The industrial products company reported $1.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.37. Caterpillar had a net margin of 10.41% and a return on equity of 37.15%. The company had revenue of $10 billion during the quarter, compared to the consensus estimate of $9.40 billion. During the same quarter in the previous year, the firm earned $2.83 EPS. The company’s revenue was down 30.7% on a year-over-year basis. Equities analysts anticipate that Caterpillar Inc. will post 5.19 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Monday, July 20th will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Friday, July 17th. Caterpillar’s dividend payout ratio is presently 37.25%.

Several equities analysts recently weighed in on CAT shares. Standpoint Research lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, June 9th. Barclays reiterated a “hold” rating and issued a $140.00 price objective on shares of Caterpillar in a report on Thursday, April 16th. Bank of America upgraded shares of Caterpillar from an “underperform” rating to a “neutral” rating and set a $135.00 price objective on the stock in a report on Wednesday, July 8th. Stephens cut their price objective on shares of Caterpillar from $100.00 to $80.00 and set an “underweight” rating on the stock in a report on Thursday, April 9th. Finally, BofA Securities upgraded shares of Caterpillar from an “underperform” rating to a “neutral” rating in a report on Wednesday, July 8th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the stock. Caterpillar presently has an average rating of “Hold” and a consensus target price of $135.22.

Caterpillar Profile

Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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