Lake Street Advisors Group LLC Has $3.31 Million Stock Position in Caterpillar Inc. (NYSE:CAT)

Lake Street Advisors Group LLC reduced its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 47.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,454 shares of the industrial products company's stock after selling 7,682 shares during the quarter. Lake Street Advisors Group LLC's holdings in Caterpillar were worth $3,307,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bbjs Financial Advisors LLC acquired a new position in Caterpillar in the second quarter valued at approximately $28,000. Financial Connections Group Inc. acquired a new stake in shares of Caterpillar during the 2nd quarter worth about $28,000. Fairman Group LLC acquired a new position in Caterpillar during the first quarter worth $29,000. Fairscale Capital LLC acquired a new stake in shares of Caterpillar during the second quarter worth about $36,000. Finally, POM Investment Strategies LLC grew its stake in Caterpillar by 2,160.0% during the 2nd quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company's stock worth $38,000 after purchasing an additional 108 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Trading Down 0.3 %

Shares of NYSE CAT traded down $1.13 during midday trading on Friday, hitting $385.93. The stock had a trading volume of 1,606,773 shares, compared to its average volume of 2,622,578. The firm has a market cap of $188.74 billion, a P/E ratio of 17.42, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78. Caterpillar Inc. has a fifty-two week low of $223.76 and a fifty-two week high of $403.60. The company's 50-day simple moving average is $368.57 and its 200 day simple moving average is $350.95.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, beating analysts' consensus estimates of $5.53 by $0.46. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The company had revenue of $16.69 billion during the quarter, compared to analysts' expectations of $16.91 billion. During the same period in the prior year, the business posted $5.55 EPS. Caterpillar's revenue was down 3.6% on a year-over-year basis. Research analysts anticipate that Caterpillar Inc. will post 21.91 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be paid a dividend of $1.41 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.46%. Caterpillar's payout ratio is 25.46%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CAT shares. StockNews.com cut shares of Caterpillar from a "buy" rating to a "hold" rating in a report on Tuesday, September 24th. Citigroup lifted their price target on shares of Caterpillar from $380.00 to $445.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. Bank of America increased their target price on Caterpillar from $376.00 to $434.00 and gave the company a "buy" rating in a report on Monday, September 30th. Morgan Stanley downgraded Caterpillar from an "equal weight" rating to an "underweight" rating and lowered their price objective for the company from $349.00 to $332.00 in a research report on Monday, October 14th. Finally, Raymond James assumed coverage on Caterpillar in a research note on Friday, June 28th. They issued a "market perform" rating on the stock. Three analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $355.50.

Insider Buying and Selling

In other Caterpillar news, Director Gerald Johnson purchased 100 shares of the business's stock in a transaction on Wednesday, September 4th. The shares were purchased at an average cost of $338.59 per share, with a total value of $33,859.00. Following the transaction, the director now directly owns 2,842 shares of the company's stock, valued at $962,272.78. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Anthony D. Fassino sold 3,185 shares of the business's stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the transaction, the insider now directly owns 33,442 shares of the company's stock, valued at approximately $11,750,181.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gerald Johnson acquired 100 shares of Caterpillar stock in a transaction on Wednesday, September 4th. The shares were bought at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the transaction, the director now owns 2,842 shares of the company's stock, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by company insiders.

Caterpillar 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.