Hanson & Doremus Investment Management Decreases Position in Caterpillar Inc. (NYSE:CAT)

Hanson & Doremus Investment Management cut its stake in shares of Caterpillar Inc. (NYSE:CAT) by 3.7% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 8,377 shares of the industrial products company’s stock after selling 326 shares during the period. Hanson & Doremus Investment Management’s holdings in Caterpillar were worth $3,039,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Retirement Wealth Solutions LLC purchased a new stake in Caterpillar during the 4th quarter worth approximately $34,000. Capital Performance Advisors LLP bought a new stake in shares of Caterpillar in the third quarter worth $36,000. Albion Financial Group UT boosted its stake in Caterpillar by 334.8% during the 4th quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 77 shares during the last quarter. Kimelman & Baird LLC grew its holdings in Caterpillar by 42.9% during the 3rd quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 30 shares in the last quarter. Finally, Trivant Custom Portfolio Group LLC increased its position in shares of Caterpillar by 130.0% in the 4th quarter. Trivant Custom Portfolio Group LLC now owns 115 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling at Caterpillar

In related news, insider Anthony D. Fassino sold 6,279 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $408.59, for a total transaction of $2,565,536.61. Following the completion of the sale, the insider now directly owns 33,565 shares in the company, valued at approximately $13,714,323.35. This trade represents a 15.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the completion of the sale, the chief financial officer now owns 45,182 shares of the company’s stock, valued at approximately $17,173,226.38. The trade was a 18.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,868 shares of company stock valued at $13,480,389. Corporate insiders own 0.29% of the company’s stock.

Caterpillar Price Performance

NYSE CAT opened at $394.01 on Thursday. The firm has a market capitalization of $190.23 billion, a PE ratio of 18.27, a P/E/G ratio of 1.97 and a beta of 1.13. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86. Caterpillar Inc. has a 12 month low of $299.93 and a 12 month high of $418.50. The company’s 50 day simple moving average is $381.43 and its 200 day simple moving average is $370.62.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The firm had revenue of $16.11 billion during the quarter, compared to analyst estimates of $16.37 billion. During the same quarter last year, the company earned $5.52 EPS. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. As a group, equities research analysts forecast that Caterpillar Inc. will post 21.69 EPS for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st will be given a $1.41 dividend. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $5.64 annualized dividend and a yield of 1.43%. Caterpillar’s dividend payout ratio (DPR) is 26.15%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CAT shares. Evercore ISI raised Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 price objective for the company in a report on Monday, January 13th. StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. UBS Group boosted their target price on shares of Caterpillar from $295.00 to $355.00 and gave the company a “sell” rating in a research note on Tuesday. JPMorgan Chase & Co. raised their price target on shares of Caterpillar from $500.00 to $515.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Finally, Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $349.00 to $332.00 in a research note on Monday, October 14th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Caterpillar currently has a consensus rating of “Hold” and a consensus price target of $384.60.

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.