KKM Financial LLC Sells 692 Shares of Caterpillar Inc. (NYSE:CAT)

KKM Financial LLC cut its stake in Caterpillar Inc. (NYSE:CAT) by 26.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,883 shares of the industrial products company’s stock after selling 692 shares during the quarter. KKM Financial LLC’s holdings in Caterpillar were worth $736,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Alpha Cubed Investments LLC lifted its position in Caterpillar by 5.6% during the third quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock worth $45,591,000 after acquiring an additional 6,212 shares during the last quarter. First Affirmative Financial Network bought a new position in shares of Caterpillar during the third quarter worth approximately $204,000. Inspire Advisors LLC boosted its stake in Caterpillar by 25.8% in the 3rd quarter. Inspire Advisors LLC now owns 8,266 shares of the industrial products company’s stock valued at $3,233,000 after purchasing an additional 1,694 shares during the period. Jackson Square Capital LLC grew its holdings in Caterpillar by 33.7% in the 3rd quarter. Jackson Square Capital LLC now owns 16,581 shares of the industrial products company’s stock valued at $6,485,000 after buying an additional 4,182 shares in the last quarter. Finally, Natixis Advisors LLC increased its position in Caterpillar by 3.5% during the 2nd quarter. Natixis Advisors LLC now owns 278,259 shares of the industrial products company’s stock worth $92,688,000 after buying an additional 9,321 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Transactions at Caterpillar

In other news, CAO William E. Schaupp sold 968 shares of Caterpillar stock in a transaction on Friday, November 1st. The shares were sold at an average price of $380.98, for a total transaction of $368,788.64. Following the transaction, the chief accounting officer now owns 1,686 shares in the company, valued at approximately $642,332.28. The trade was a 36.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gerald Johnson acquired 100 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was bought at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the acquisition, the director now directly owns 2,842 shares of the company’s stock, valued at $962,272.78. This trade represents a 3.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 20,774 shares of company stock worth $8,233,034. Insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Barclays upped their price target on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Bank of America increased their target price on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. UBS Group boosted their price target on Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. raised their price objective on Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, Robert W. Baird lifted their price objective on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $365.33.

Caterpillar Price Performance

CAT stock opened at $397.48 on Friday. Caterpillar Inc. has a 1 year low of $246.01 and a 1 year high of $418.50. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86. The stock has a market cap of $191.90 billion, a price-to-earnings ratio of 18.43, a P/E/G ratio of 1.92 and a beta of 1.10. The company has a 50 day simple moving average of $386.81 and a 200 day simple moving average of $355.84.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The firm had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The firm’s revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.52 earnings per share. Research analysts anticipate that Caterpillar Inc. will post 21.68 EPS for the current fiscal year.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st were paid a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date was Monday, October 21st. Caterpillar’s payout ratio is 26.15%.

Caterpillar Company 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.