Tufton Capital Management Sells 136 Shares of Caterpillar Inc. (NYSE:CAT)

Tufton Capital Management trimmed its stake in shares of Caterpillar Inc. (NYSE:CAT) by 0.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,464 shares of the industrial products company’s stock after selling 136 shares during the period. Caterpillar makes up 1.7% of Tufton Capital Management’s investment portfolio, making the stock its 21st largest holding. Tufton Capital Management’s holdings in Caterpillar were worth $9,238,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in CAT. Goldstone Financial Group LLC purchased a new position in shares of Caterpillar during the third quarter valued at approximately $619,000. Great Diamond Partners LLC purchased a new position in shares of Caterpillar during the third quarter valued at approximately $207,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in shares of Caterpillar by 15.8% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,860 shares of the industrial products company’s stock valued at $1,107,000 after purchasing an additional 390 shares during the last quarter. Oak Harvest Investment Services increased its holdings in Caterpillar by 4.7% during the third quarter. Oak Harvest Investment Services now owns 4,240 shares of the industrial products company’s stock valued at $1,658,000 after buying an additional 191 shares during the last quarter. Finally, Catalyst Financial Partners LLC increased its holdings in Caterpillar by 6.3% during the third quarter. Catalyst Financial Partners LLC now owns 4,623 shares of the industrial products company’s stock valued at $1,808,000 after buying an additional 272 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Caterpillar

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the completion of the sale, the chief financial officer now owns 45,182 shares in the company, valued at $17,173,226.38. This trade represents a 18.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jason Kaiser sold 2,425 shares of Caterpillar stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total transaction of $860,147.50. Following the sale, the insider now owns 6,275 shares of the company’s stock, valued at $2,225,742.50. The trade was a 27.87 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Jefferies Financial Group upped their target price on shares of Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a report on Friday, December 6th. Robert W. Baird upped their target price on shares of Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. reduced their target price on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a report on Friday, January 31st. DA Davidson upped their target price on shares of Caterpillar from $350.00 to $357.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Finally, Morgan Stanley dropped their price target on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $383.80.

Caterpillar Stock Performance

Shares of NYSE:CAT opened at $340.68 on Friday. Caterpillar Inc. has a 52 week low of $307.05 and a 52 week high of $418.50. The stock has a market capitalization of $162.82 billion, a P/E ratio of 15.44, a PEG ratio of 1.87 and a beta of 1.12. The firm has a fifty day simple moving average of $366.43 and a two-hundred day simple moving average of $372.66. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, topping analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. On average, analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st were issued a $1.41 dividend. The ex-dividend date was Tuesday, January 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.66%. Caterpillar’s dividend payout ratio (DPR) is presently 25.56%.

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.