Gilman Hill Asset Management LLC Has $413,000 Position in Caterpillar Inc. (NYSE:CAT)

Gilman Hill Asset Management LLC reduced its stake in shares of Caterpillar Inc. (NYSE:CAT) by 3.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,239 shares of the industrial products company’s stock after selling 40 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in Caterpillar were worth $413,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new stake in Caterpillar in the fourth quarter valued at approximately $1,660,560,000. Capital Wealth Planning LLC lifted its stake in Caterpillar by 27,495.2% in the fourth quarter. Capital Wealth Planning LLC now owns 1,182,453 shares of the industrial products company’s stock valued at $349,616,000 after acquiring an additional 1,178,168 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Caterpillar by 19.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,264,635 shares of the industrial products company’s stock valued at $947,875,000 after acquiring an additional 529,420 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its stake in Caterpillar by 5,293.1% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 482,360 shares of the industrial products company’s stock valued at $142,620,000 after acquiring an additional 473,416 shares during the last quarter. Finally, Cerity Partners LLC lifted its stake in Caterpillar by 265.2% in the fourth quarter. Cerity Partners LLC now owns 507,322 shares of the industrial products company’s stock valued at $150,000,000 after acquiring an additional 368,421 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Cheryl H. Johnson sold 1,508 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $340.00, for a total value of $512,720.00. Following the completion of the sale, the insider now directly owns 20,023 shares of the company’s stock, valued at approximately $6,807,820. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Lange Bob De sold 21,847 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $356.90, for a total transaction of $7,797,194.30. Following the completion of the sale, the insider now directly owns 71,115 shares of the company’s stock, valued at approximately $25,380,943.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Cheryl H. Johnson sold 1,508 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $340.00, for a total value of $512,720.00. Following the sale, the insider now directly owns 20,023 shares of the company’s stock, valued at $6,807,820. The disclosure for this sale can be found here. Insiders sold a total of 24,863 shares of company stock valued at $8,837,714 in the last ninety days. 0.33% of the stock is owned by insiders.

Caterpillar Trading Up 0.6 %

NYSE:CAT traded up $2.10 on Friday, hitting $338.26. 1,668,078 shares of the stock were exchanged, compared to its average volume of 2,750,098. The stock has a market capitalization of $165.43 billion, a price-to-earnings ratio of 15.27, a P/E/G ratio of 1.72 and a beta of 1.12. Caterpillar Inc. has a 52 week low of $223.76 and a 52 week high of $382.01. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.83 and a current ratio of 1.35. The company’s 50-day moving average price is $333.35 and its 200 day moving average price is $338.78.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data 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 firm had revenue of $16.69 billion during the quarter, compared to analysts’ expectations of $16.91 billion. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the business posted $5.55 EPS. On average, equities research analysts forecast that Caterpillar Inc. will post 21.57 earnings per share for the current year.

Caterpillar announced that its board has initiated a share repurchase program on Wednesday, June 12th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the industrial products company to repurchase up to 12.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Caterpillar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd will be paid a $1.41 dividend. The ex-dividend date of this dividend is Monday, July 22nd. This is a boost from Caterpillar’s previous quarterly dividend of $1.30. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.67%. Caterpillar’s dividend payout ratio is 25.46%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CAT shares. HSBC lifted their price target on shares of Caterpillar from $330.00 to $360.00 and gave the company a “hold” rating in a research report on Tuesday, April 30th. UBS Group lifted their price target on shares of Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research report on Wednesday. Bank of America dropped their price target on shares of Caterpillar from $385.00 to $376.00 and set a “buy” rating on the stock in a research report on Wednesday. Barclays lifted their price target on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, The Goldman Sachs Group lifted their price target on shares of Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $337.38.

Caterpillar 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.