Howe & Rusling Inc. Sells 2,386 Shares of Caterpillar Inc. (NYSE:CAT)

Howe & Rusling Inc. cut its holdings in Caterpillar Inc. (NYSE:CAT) by 10.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,200 shares of the industrial products company’s stock after selling 2,386 shares during the quarter. Howe & Rusling Inc.’s holdings in Caterpillar were worth $8,292,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Commerce Bank raised its position in Caterpillar by 8.8% in the 3rd quarter. Commerce Bank now owns 142,698 shares of the industrial products company’s stock worth $55,812,000 after buying an additional 11,498 shares during the last quarter. Prospera Private Wealth LLC bought a new position in Caterpillar in the 3rd quarter worth $7,288,000. West Family Investments Inc. lifted its position in Caterpillar by 10.5% during the third quarter. West Family Investments Inc. now owns 1,701 shares of the industrial products company’s stock valued at $665,000 after purchasing an additional 162 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Caterpillar by 1.8% in the third quarter. PNC Financial Services Group Inc. now owns 413,719 shares of the industrial products company’s stock worth $161,814,000 after buying an additional 7,118 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Caterpillar during the 3rd quarter valued at about $54,997,000. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Down 0.6 %

Shares of NYSE:CAT opened at $382.26 on Wednesday. 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 business has a 50 day simple moving average of $383.83 and a two-hundred day simple moving average of $355.03. Caterpillar Inc. has a 1 year low of $241.81 and a 1 year high of $418.50. The firm has a market capitalization of $184.56 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 1.90 and a beta of 1.10.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing the consensus estimate of $5.33 by ($0.16). The business 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 business’s revenue was down 4.2% compared to the same quarter last year. During the same period last year, the company earned $5.52 EPS. On average, equities analysts predict that Caterpillar Inc. will post 21.68 EPS for the current year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be given a $1.41 dividend. The ex-dividend date is Monday, October 21st. This represents a $5.64 annualized dividend and a yield of 1.48%. Caterpillar’s dividend payout ratio (DPR) is 26.15%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CAT shares. JPMorgan Chase & Co. upped their price target on shares of Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Barclays upped their target price on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Morgan Stanley cut shares of Caterpillar from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $349.00 to $332.00 in a research note on Monday, October 14th. Robert W. Baird lifted their target price on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. Finally, Bank of America boosted their target price on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Caterpillar has an average rating of “Hold” and a consensus price target of $365.33.

Insiders Place Their Bets

In related news, Director Daniel M. Dickinson sold 1,300 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $418.00, for a total value of $543,400.00. Following the transaction, the director now directly owns 4,976 shares of the company’s stock, valued at $2,079,968. This represents a 20.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gerald Johnson purchased 100 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were purchased at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the purchase, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. The trade was a 3.65 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 23,749 shares of company stock worth $9,251,912 in the last three months. Corporate insiders own 0.29% of the company’s stock.

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.