Maple Capital Management Inc. Sells 138 Shares of Caterpillar Inc. $CAT

Maple Capital Management Inc. cut its holdings in Caterpillar Inc. (NYSE:CAT) by 15.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 743 shares of the industrial products company’s stock after selling 138 shares during the quarter. Maple Capital Management Inc.’s holdings in Caterpillar were worth $289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of CAT. Aire Advisors LLC lifted its stake in Caterpillar by 0.3% in the second quarter. Aire Advisors LLC now owns 9,042 shares of the industrial products company’s stock worth $3,510,000 after acquiring an additional 25 shares during the period. Dumont & Blake Investment Advisors LLC raised its holdings in Caterpillar by 0.5% in the 2nd quarter. Dumont & Blake Investment Advisors LLC now owns 4,954 shares of the industrial products company’s stock worth $1,923,000 after purchasing an additional 25 shares in the last quarter. Redwood Wealth Management Group LLC lifted its position in shares of Caterpillar by 0.9% in the 2nd quarter. Redwood Wealth Management Group LLC now owns 2,669 shares of the industrial products company’s stock worth $1,036,000 after purchasing an additional 25 shares during the period. Tsfg LLC boosted its stake in shares of Caterpillar by 9.8% during the 2nd quarter. Tsfg LLC now owns 279 shares of the industrial products company’s stock valued at $108,000 after purchasing an additional 25 shares in the last quarter. Finally, GSB Wealth Management LLC increased its position in shares of Caterpillar by 1.2% during the second quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company’s stock valued at $832,000 after buying an additional 26 shares during the period. Institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CAT. Bank of America lifted their price objective on Caterpillar from $594.00 to $650.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Jefferies Financial Group upped their price target on Caterpillar from $570.00 to $700.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Royal Bank Of Canada began coverage on Caterpillar in a report on Wednesday, October 22nd. They issued a “sector perform” rating and a $560.00 price objective for the company. Erste Group Bank upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Finally, Robert W. Baird increased their price target on shares of Caterpillar from $612.00 to $680.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Caterpillar presently has an average rating of “Moderate Buy” and a consensus price target of $596.59.

Caterpillar Price Performance

NYSE:CAT opened at $567.82 on Wednesday. The business’s 50-day simple moving average is $497.84 and its two-hundred day simple moving average is $423.30. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 1.34. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $596.21. The stock has a market cap of $265.73 billion, a PE ratio of 29.15, a P/E/G ratio of 3.33 and a beta of 1.51.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $4.95 EPS for the quarter, beating the consensus estimate of $4.52 by $0.43. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The business had revenue of $17.64 billion during the quarter, compared to the consensus estimate of $16.72 billion. During the same quarter in the prior year, the firm earned $5.17 EPS. The business’s revenue was up 9.5% on a year-over-year basis. As a group, analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s payout ratio is currently 31.01%.

Insiders Place Their Bets

In other Caterpillar news, Director David Maclennan acquired 300 shares of the company’s stock in a transaction dated Thursday, November 6th. The shares were purchased at an average cost of $568.86 per share, for a total transaction of $170,658.00. Following the completion of the purchase, the director owned 7,947 shares in the company, valued at approximately $4,520,730.42. This trade represents a 3.92% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Lange Bob De sold 14,638 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $562.36, for a total transaction of $8,231,825.68. Following the completion of the transaction, the insider directly owned 80,209 shares of the company’s stock, valued at $45,106,333.24. This trade represents a 15.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 69,662 shares of company stock worth $33,575,140. 0.33% of the stock is owned by company insiders.

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.