Andina Capital Management LLC Increases Position in Caterpillar Inc. (NYSE:CAT)

by · The Markets Daily

Andina Capital Management LLC increased its stake in shares of Caterpillar Inc. (NYSE:CAT – Free Report) by 11.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,489 shares of the industrial products company’s stock after buying an additional 156 shares during the quarter. Andina Capital Management LLC’s holdings in Caterpillar were worth $582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Acadian Asset Management LLC boosted its position in shares of Caterpillar by 17.2% during the 1st quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock worth $3,308,000 after purchasing an additional 1,327 shares during the period. Alpha Cubed Investments LLC grew its position in Caterpillar by 5.6% during the 3rd quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock worth $45,591,000 after purchasing an additional 6,212 shares during the last quarter. Diversify Advisory Services LLC acquired a new position in shares of Caterpillar during the first quarter worth about $926,000. First Affirmative Financial Network acquired a new position in shares of Caterpillar during the third quarter worth about $204,000. Finally, Inspire Advisors LLC grew its position in Caterpillar by 25.8% during the third quarter. Inspire Advisors LLC now owns 8,266 shares of the industrial products company’s stock worth $3,233,000 after buying an additional 1,694 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Caterpillar

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CAT shares. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Evercore ISI decreased their price objective on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a report on Monday, August 19th. 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 report on Wednesday, August 7th. JPMorgan Chase & Co. raised their target price on shares of Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, Citigroup lifted their target price on shares of Caterpillar from $380.00 to $445.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $355.50.

Get Our Latest Stock Report on CAT

Caterpillar Trading Down 1.1 %

Shares of NYSE CAT traded down $4.12 during trading on Tuesday, hitting $386.49. 763,869 shares of the company were exchanged, compared to its average volume of 2,616,514. The firm has a market capitalization of $189.01 billion, a PE ratio of 17.49, a P/E/G ratio of 1.85 and a beta of 1.10. Caterpillar Inc. has a 12-month low of $223.76 and a 12-month high of $403.60. The company has a fifty day moving average price of $369.49 and a 200-day moving average price of $350.79. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28.

Caterpillar (NYSE:CAT – Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. The firm had revenue of $16.69 billion during 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 quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the company posted $5.55 earnings per share. As a group, equities research analysts expect that Caterpillar Inc. will post 21.91 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be issued a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is 25.46%.

About Caterpillar

(Free Report)

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.

See Also

Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar Inc. (NYSE:CAT – Free Report).