Folger Nolan Fleming Douglas Capital Management Inc. Decreases Stock Position in Caterpillar Inc. (NYSE:CAT)

Folger Nolan Fleming Douglas Capital Management Inc. lowered its stake in Caterpillar Inc. (NYSE:CAT) by 2.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 34,070 shares of the industrial products company’s stock after selling 780 shares during the period. Caterpillar makes up approximately 1.1% of Folger Nolan Fleming Douglas Capital Management Inc.’s portfolio, making the stock its 25th biggest holding. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Caterpillar were worth $10,073,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of the stock. Gilfoyle & Co LLC purchased a new position in Caterpillar during the 4th quarter valued at about $30,000. Fortitude Family Office LLC purchased a new position in Caterpillar during the 4th quarter valued at about $39,000. Authentikos Wealth Advisory LLC purchased a new position in Caterpillar during the 3rd quarter valued at about $41,000. Rational Advisors LLC purchased a new position in Caterpillar during the 3rd quarter valued at about $42,000. Finally, Milestone Investment Advisors LLC purchased a new position in Caterpillar during the 3rd quarter valued at about $44,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $310.10, for a total transaction of $3,101,000.00. Following the completion of the sale, the chief financial officer now directly owns 57,317 shares in the company, valued at approximately $17,774,001.70. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Lange Bob De sold 21,194 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $325.52, for a total value of $6,899,070.88. Following the completion of the sale, the insider now directly owns 61,092 shares in the company, valued at approximately $19,886,667.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $310.10, for a total value of $3,101,000.00. Following the completion of the sale, the chief financial officer now owns 57,317 shares of the company’s stock, valued at $17,774,001.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,769 shares of company stock worth $11,508,906. Insiders own 0.33% of the company’s stock.

Caterpillar Stock Up 1.6 %

CAT stock traded up $5.38 during midday trading on Friday, hitting $343.38. The company’s stock had a trading volume of 3,324,630 shares, compared to its average volume of 2,414,735. The company has a market cap of $171.48 billion, a PE ratio of 15.50, a P/E/G ratio of 1.51 and a beta of 1.17. Caterpillar Inc. has a 12 month low of $204.04 and a 12 month high of $382.01. The company has a current ratio of 1.35, a quick ratio of 0.87 and a debt-to-equity ratio of 1.41. The firm’s 50-day moving average is $350.10 and its 200-day moving average is $300.80.

Caterpillar (NYSE:CAT) last announced its earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share for the quarter, beating analysts’ consensus estimates of $5.12 by $0.48. The business had revenue of $15.80 billion during the quarter, compared to analyst estimates of $16.07 billion. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. On average, equities research analysts forecast that Caterpillar Inc. will post 21.3 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, April 22nd will be paid a dividend of $1.30 per share. The ex-dividend date is Friday, April 19th. This represents a $5.20 dividend on an annualized basis and a yield of 1.51%. Caterpillar’s dividend payout ratio is presently 23.48%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. The Goldman Sachs Group boosted their price target on Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Evercore ISI cut Caterpillar from an “outperform” rating to an “in-line” rating and lifted their price objective for the company from $321.00 to $338.00 in a research report on Tuesday, February 20th. Wells Fargo & Company lifted their price objective on Caterpillar from $290.00 to $325.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. Morgan Stanley began coverage on Caterpillar in a research report on Monday, January 8th. They set an “equal weight” rating and a $270.00 price objective on the stock. Finally, TD Cowen lifted their price objective on Caterpillar from $338.00 to $340.00 and gave the company a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Caterpillar has an average rating of “Hold” and a consensus target price of $310.83.

About Caterpillar

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.