Caterpillar Inc. (NYSE:CAT) Shares Sold by Wellington Shields Capital Management LLC

Wellington Shields Capital Management LLC cut its stake in Caterpillar Inc. (NYSE:CAT) by 25.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,450 shares of the industrial products company’s stock after selling 1,500 shares during the period. Wellington Shields Capital Management LLC’s holdings in Caterpillar were worth $854,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Systematic Alpha Investments LLC acquired a new position in shares of Caterpillar during the third quarter valued at $32,000. Annapolis Financial Services LLC boosted its position in Caterpillar by 67.9% during the 3rd quarter. Annapolis Financial Services LLC now owns 183 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 74 shares during the period. Strategic Asset Management LLC acquired a new stake in Caterpillar during the 3rd quarter worth about $39,000. Lion Street Advisors LLC acquired a new stake in Caterpillar during the 2nd quarter worth about $44,000. Finally, Destiny Wealth Partners LLC acquired a new stake in Caterpillar during the 3rd quarter worth about $38,000. 67.22% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar stock traded up $0.01 during midday trading on Friday, reaching $227.01. The stock had a trading volume of 42,620 shares, compared to its average volume of 2,890,711. Caterpillar Inc. has a 12 month low of $179.34 and a 12 month high of $246.69. The company has a market capitalization of $122.80 billion, a P/E ratio of 24.28, a PEG ratio of 1.51 and a beta of 0.93. The company has a fifty day moving average price of $206.45 and a two-hundred day moving average price of $206.14. The company has a current ratio of 1.61, a quick ratio of 1.09 and a debt-to-equity ratio of 1.63.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, October 28th. The industrial products company reported $2.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.40. Caterpillar had a return on equity of 34.41% and a net margin of 10.64%. The business had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $12.46 billion. During the same quarter in the previous year, the business earned $1.34 EPS. The company’s quarterly revenue was up 25.5% on a year-over-year basis. On average, equities research analysts predict that Caterpillar Inc. will post 10.35 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 18th. Shareholders of record on Thursday, January 20th will be issued a dividend of $1.11 per share. The ex-dividend date is Wednesday, January 19th. This represents a $4.44 dividend on an annualized basis and a yield of 1.96%. Caterpillar’s payout ratio is 47.49%.

A number of equities research analysts have recently weighed in on CAT shares. Cowen started coverage on Caterpillar in a research note on Thursday, October 14th. They set an “outperform” rating and a $241.00 price target for the company. Barclays raised their price objective on Caterpillar from $220.00 to $225.00 and gave the company an “equal weight” rating in a research note on Thursday. Citigroup lifted their price target on Caterpillar from $225.00 to $230.00 in a research report on Thursday. Morgan Stanley dropped their price target on Caterpillar from $166.00 to $164.00 and set an “underweight” rating on the stock in a research report on Thursday, December 9th. Finally, UBS Group boosted their price target on Caterpillar from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $236.89.

In other news, insider Joseph E. Creed sold 5,038 shares of the company’s stock in a transaction on Monday, November 1st. The shares were sold at an average price of $204.09, for a total value of $1,028,205.42. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.18% of the company’s stock.

About Caterpillar

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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