7,559 Caterpillar Inc. $CAT Shares Bought by Godsey & Gibb Inc.

Godsey & Gibb Inc. increased its position in shares of Caterpillar Inc. (NYSE:CAT) by 3,405.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,781 shares of the industrial products company’s stock after acquiring an additional 7,559 shares during the period. Godsey & Gibb Inc.’s holdings in Caterpillar were worth $6,309,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Diversify Advisory Services LLC acquired a new position in Caterpillar in the 2nd quarter worth about $5,372,000. D.B. Root & Company LLC acquired a new stake in shares of Caterpillar during the second quarter valued at about $850,000. Dearborn Partners LLC acquired a new stake in shares of Caterpillar during the second quarter valued at about $20,293,000. B. Metzler seel. Sohn & Co. AG grew its holdings in shares of Caterpillar by 4.3% during the second quarter. B. Metzler seel. Sohn & Co. AG now owns 62,731 shares of the industrial products company’s stock worth $66,802,000 after purchasing an additional 2,590 shares during the last quarter. Finally, Van Hulzen Asset Management LLC grew its holdings in shares of Caterpillar by 85.3% during the second quarter. Van Hulzen Asset Management LLC now owns 2,809 shares of the industrial products company’s stock worth $2,991,000 after purchasing an additional 1,293 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. UBS Group upped their price objective on Caterpillar from $900.00 to $925.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Erste Group Bank downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Monday, July 27th. Barclays boosted their target price on shares of Caterpillar from $800.00 to $900.00 and gave the stock an “equal weight” rating in a report on Thursday, August 6th. President Capital initiated coverage on shares of Caterpillar in a research report on Friday, September 18th. They issued a “buy” rating and a $999.00 price target for the company. Finally, Oppenheimer decreased their price target on shares of Caterpillar from $1,118.00 to $1,009.00 and set an “outperform” rating for the company in a research report on Wednesday. Fifteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $967.83.

Insider Transactions at Caterpillar

In other Caterpillar news, CEO Joseph E. Creed sold 32,401 shares of the company’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $808.98, for a total transaction of $26,211,760.98. Following the sale, the chief executive officer owned 34,555 shares of the company’s stock, valued at approximately $27,954,303.90. This represents a 48.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by insiders.

Caterpillar News Summary

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Oppenheimer maintained an “outperform” rating and still sees substantial upside, although it lowered its price target to $1,009 from $1,118. Oppenheimer Caterpillar price-target update
• Positive Sentiment: Caterpillar maintained its quarterly dividend at $1.63 per share, payable November 19 to shareholders of record October 19. The company has paid annual cash dividends since its founding and quarterly dividends since 1933. Caterpillar Inc. Maintains Dividend

Caterpillar Stock Down 3.3%

Shares of CAT opened at $747.18 on Thursday. The stock’s 50-day moving average price is $816.99 and its two-hundred day moving average price is $855.96. Caterpillar Inc. has a 12 month low of $510.21 and a 12 month high of $1,073.46. The company has a market capitalization of $343.46 billion, a PE ratio of 32.15, a PEG ratio of 1.33 and a beta of 1.58. The company has a current ratio of 1.37, a quick ratio of 0.85 and a debt-to-equity ratio of 1.65.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, August 4th. The industrial products company reported $8.17 EPS for the quarter, beating analysts’ consensus estimates of $6.22 by $1.95. Caterpillar had a net margin of 14.51% and a return on equity of 55.53%. The company had revenue of $20.54 billion for the quarter, compared to analyst estimates of $19.34 billion. During the same period in the prior year, the firm posted $4.72 EPS. The company’s quarterly revenue was up 23.7% on a year-over-year basis. On average, analysts anticipate that Caterpillar Inc. will post 27.49 EPS for the current year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Monday, October 19th will be issued a $1.63 dividend. The ex-dividend date is Monday, October 19th. This represents a $6.52 annualized dividend and a yield of 0.9%. Caterpillar’s payout ratio is presently 28.06%.

About Caterpillar

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. Its products are used in infrastructure development, construction, mining, energy production, transportation, agriculture, forestry, and other industrial applications.

The company markets equipment and related services through a worldwide network of independent dealers. Its operations are generally organized around Construction Industries, Resource Industries, and Energy & Transportation.