SeaCrest Wealth Management LLC Cuts Position in Caterpillar Inc. (NYSE:CAT)

SeaCrest Wealth Management LLC decreased its holdings in Caterpillar Inc. (NYSE:CAT) by 2.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 7,648 shares of the industrial products company’s stock after selling 208 shares during the period. SeaCrest Wealth Management LLC’s holdings in Caterpillar were worth $966,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CAT. Meridian Wealth Management LLC purchased a new position in Caterpillar in the first quarter valued at approximately $169,000. Marshall Wace LLP raised its holdings in Caterpillar by 324.4% in the first quarter. Marshall Wace LLP now owns 100,235 shares of the industrial products company’s stock valued at $13,581,000 after buying an additional 76,617 shares during the period. Clearbridge Investments LLC raised its stake in shares of Caterpillar by 12.7% during the first quarter. Clearbridge Investments LLC now owns 2,794,952 shares of the industrial products company’s stock valued at $378,688,000 after purchasing an additional 314,442 shares during the period. Princeton Global Asset Management LLC purchased a new stake in shares of Caterpillar during the first quarter valued at approximately $204,000. Finally, Rehmann Capital Advisory Group raised its stake in shares of Caterpillar by 11.4% during the first quarter. Rehmann Capital Advisory Group now owns 2,630 shares of the industrial products company’s stock valued at $356,000 after purchasing an additional 270 shares during the period. Hedge funds and other institutional investors own 64.96% of the company’s stock.

Shares of NYSE:CAT traded up $0.15 during midday trading on Wednesday, reaching $131.18. The company had a trading volume of 208,860 shares, compared to its average volume of 3,325,360. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.43 and a quick ratio of 1.00. The stock’s fifty day moving average price is $124.53 and its 200-day moving average price is $129.17. The stock has a market capitalization of $72.24 billion, a P/E ratio of 11.69, a PEG ratio of 0.92 and a beta of 1.52. Caterpillar Inc. has a one year low of $111.75 and a one year high of $144.77.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.12 by ($0.29). The company had revenue of $14.43 billion during the quarter, compared to the consensus estimate of $14.47 billion. Caterpillar had a return on equity of 43.35% and a net margin of 11.26%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.97 EPS. As a group, sell-side analysts forecast that Caterpillar Inc. will post 11.58 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be paid a $1.03 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.14%. Caterpillar’s dividend payout ratio (DPR) is presently 36.72%.

A number of research firms have recently issued reports on CAT. Credit Suisse Group dropped their price objective on shares of Caterpillar from $165.00 to $149.00 and set an “outperform” rating on the stock in a research note on Friday, October 11th. Atlantic Securities lowered shares of Caterpillar from a “neutral” rating to an “underweight” rating in a research note on Friday, June 21st. Buckingham Research lowered shares of Caterpillar from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $162.00 to $140.00 in a research note on Thursday, July 25th. Morgan Stanley dropped their price objective on shares of Caterpillar from $155.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Finally, Goldman Sachs Group lowered shares of Caterpillar from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $156.00 to $130.00 in a research note on Wednesday, August 7th. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $137.66.

In related news, General Counsel Suzette M. Long sold 5,019 shares of Caterpillar stock in a transaction on Monday, September 30th. The shares were sold at an average price of $126.34, for a total value of $634,100.46. Following the completion of the sale, the general counsel now owns 12,569 shares in the company, valued at $1,587,967.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.37% of the stock is currently owned by insiders.

Caterpillar Company Profile

Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.

Further Reading: What causes a recession?

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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