Fernwood Investment Management LLC Decreases Position in Caterpillar, Inc. (CAT)

Fernwood Investment Management LLC lowered its stake in Caterpillar, Inc. (NYSE:CAT) by 9.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 7,550 shares of the industrial products company’s stock after selling 750 shares during the period. Fernwood Investment Management LLC’s holdings in Caterpillar were worth $942,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in CAT. Eagle Asset Management Inc. bought a new stake in Caterpillar in the 3rd quarter valued at about $2,598,000. Great West Life Assurance Co. Can boosted its holdings in Caterpillar by 1.5% in the 3rd quarter. Great West Life Assurance Co. Can now owns 441,190 shares of the industrial products company’s stock valued at $55,160,000 after purchasing an additional 6,468 shares during the period. Nordea Investment Management AB boosted its holdings in Caterpillar by 9.8% in the 3rd quarter. Nordea Investment Management AB now owns 32,537 shares of the industrial products company’s stock valued at $4,058,000 after purchasing an additional 2,891 shares during the period. Tdam USA Inc. boosted its holdings in Caterpillar by 47.3% in the 3rd quarter. Tdam USA Inc. now owns 19,290 shares of the industrial products company’s stock valued at $2,406,000 after purchasing an additional 6,190 shares during the period. Finally, Peregrine Asset Advisers Inc. boosted its holdings in Caterpillar by 963.8% in the 3rd quarter. Peregrine Asset Advisers Inc. now owns 79,616 shares of the industrial products company’s stock valued at $9,929,000 after purchasing an additional 72,132 shares during the period. Institutional investors and hedge funds own 68.61% of the company’s stock.

A number of analysts have issued reports on CAT shares. BidaskClub downgraded shares of Caterpillar from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Vetr downgraded shares of Caterpillar from a “buy” rating to a “hold” rating and set a $120.03 price objective for the company. in a report on Tuesday, August 22nd. Royal Bank of Canada reissued a “hold” rating on shares of Caterpillar in a report on Tuesday, August 29th. Jefferies Group reissued a “hold” rating and issued a $100.00 price objective on shares of Caterpillar in a report on Tuesday, August 29th. Finally, ValuEngine raised shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the company. Caterpillar currently has a consensus rating of “Hold” and a consensus price target of $139.14.

Shares of Caterpillar, Inc. (CAT) opened at $146.28 on Friday. Caterpillar, Inc. has a twelve month low of $90.34 and a twelve month high of $149.05. The company has a current ratio of 1.44, a quick ratio of 1.04 and a debt-to-equity ratio of 1.58. The firm has a market cap of $88,389.30, a P/E ratio of 26.77, a PEG ratio of 2.23 and a beta of 1.29.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $1.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.68. The business had revenue of $11.41 billion during the quarter, compared to the consensus estimate of $10.69 billion. Caterpillar had a net margin of 2.09% and a return on equity of 23.22%. The firm’s revenue was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.85 EPS. research analysts forecast that Caterpillar, Inc. will post 6.44 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 20th. Investors of record on Monday, January 22nd will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.13%. The ex-dividend date is Friday, January 19th. Caterpillar’s payout ratio is 216.67%.

In related news, CFO Bradley M. Halverson sold 17,210 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $137.33, for a total value of $2,363,449.30. Following the completion of the transaction, the chief financial officer now owns 7,814 shares of the company’s stock, valued at approximately $1,073,096.62. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Thomas A. Pellette sold 24,547 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $135.69, for a total transaction of $3,330,782.43. The disclosure for this sale can be found here. In the last three months, insiders sold 52,989 shares of company stock valued at $7,235,850. 0.14% of the stock is owned by insiders.

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Caterpillar Company Profile

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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