Brown Advisory Inc. Trims Stake in Caterpillar Inc. (CAT)

Brown Advisory Inc. trimmed its stake in shares of Caterpillar Inc. (NYSE:CAT) by 1.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 57,091 shares of the industrial products company’s stock after selling 675 shares during the period. Brown Advisory Inc.’s holdings in Caterpillar were worth $8,706,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Acropolis Investment Management LLC acquired a new position in Caterpillar in the third quarter valued at approximately $100,000. Sound Income Strategies LLC lifted its holdings in Caterpillar by 181.8% in the third quarter. Sound Income Strategies LLC now owns 665 shares of the industrial products company’s stock valued at $101,000 after buying an additional 429 shares during the period. St. Johns Investment Management Company LLC acquired a new position in Caterpillar in the third quarter valued at approximately $106,000. Providence Capital Advisors LLC acquired a new position in Caterpillar in the third quarter valued at approximately $118,000. Finally, Psagot Investment House Ltd. acquired a new position in Caterpillar in the third quarter valued at approximately $136,000. Institutional investors own 66.86% of the company’s stock.

Shares of NYSE:CAT opened at $138.95 on Tuesday. Caterpillar Inc. has a 52 week low of $112.06 and a 52 week high of $173.24. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 1.60. The company has a market capitalization of $80.06 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 0.50 and a beta of 1.61.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, October 23rd. The industrial products company reported $2.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.83 by $0.03. Caterpillar had a net margin of 7.13% and a return on equity of 44.13%. The company had revenue of $13.51 billion during the quarter, compared to the consensus estimate of $13.28 billion. During the same quarter in the prior year, the firm earned $1.95 earnings per share. The firm’s revenue was up 18.4% compared to the same quarter last year. On average, research analysts anticipate that Caterpillar Inc. will post 11.64 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 20th. Stockholders of record on Monday, October 22nd were given a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend was Friday, October 19th. Caterpillar’s dividend payout ratio is 50.00%.

In other news, insider Denise C. Johnson sold 35,051 shares of the stock in a transaction on Tuesday, October 2nd. The shares were sold at an average price of $154.18, for a total transaction of $5,404,163.18. Following the completion of the sale, the insider now owns 22,826 shares of the company’s stock, valued at $3,519,312.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lange Bob De acquired 1,080 shares of the stock in a transaction dated Friday, October 26th. The shares were bought at an average cost of $115.58 per share, with a total value of $124,826.40. Following the transaction, the insider now directly owns 11,310 shares of the company’s stock, valued at $1,307,209.80. The disclosure for this purchase can be found here. 0.36% of the stock is owned by corporate insiders.

CAT has been the topic of several analyst reports. Bank of America upgraded shares of Caterpillar from a “neutral” rating to a “buy” rating and increased their price objective for the company from $140.00 to $163.00 in a report on Monday. Stifel Nicolaus cut their price objective on shares of Caterpillar from $174.00 to $168.00 and set a “hold” rating on the stock in a report on Tuesday, August 7th. Credit Suisse Group cut their price objective on shares of Caterpillar from $210.00 to $183.00 and set an “outperform” rating on the stock in a report on Wednesday, October 24th. UBS Group set a $185.00 price objective on shares of Caterpillar and gave the company a “buy” rating in a report on Wednesday, September 5th. Finally, Wells Fargo & Co set a $145.00 target price on shares of Caterpillar and gave the company a “buy” rating in a research note on Wednesday, October 24th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $158.90.

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About Caterpillar

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.

Further Reading: What is systematic risk?

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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