Caterpillar Inc. (NYSE:CAT) Shares Sold by Annex Advisory Services LLC

Annex Advisory Services LLC lessened its stake in Caterpillar Inc. (NYSE:CATFree Report) by 7.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,032 shares of the industrial products company’s stock after selling 88 shares during the quarter. Annex Advisory Services LLC’s holdings in Caterpillar were worth $378,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Clearbridge Investments LLC grew its position in Caterpillar by 7.9% in the third quarter. Clearbridge Investments LLC now owns 14,207 shares of the industrial products company’s stock worth $3,879,000 after acquiring an additional 1,041 shares during the period. Mutual Advisors LLC boosted its position in shares of Caterpillar by 2.0% during the third quarter. Mutual Advisors LLC now owns 14,765 shares of the industrial products company’s stock worth $4,031,000 after buying an additional 296 shares during the period. Winslow Capital Management LLC boosted its position in shares of Caterpillar by 2,265.3% during the third quarter. Winslow Capital Management LLC now owns 1,117,830 shares of the industrial products company’s stock worth $305,168,000 after buying an additional 1,070,570 shares during the period. W Advisors LLC boosted its position in shares of Caterpillar by 2.4% during the third quarter. W Advisors LLC now owns 2,297 shares of the industrial products company’s stock worth $627,000 after buying an additional 53 shares during the period. Finally, Vinva Investment Management Ltd boosted its position in shares of Caterpillar by 59.1% during the third quarter. Vinva Investment Management Ltd now owns 14,173 shares of the industrial products company’s stock worth $3,915,000 after buying an additional 5,264 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Performance

Shares of NYSE CAT traded down $4.36 during midday trading on Tuesday, reaching $325.64. 987,408 shares of the company were exchanged, compared to its average volume of 2,662,989. The company has a current ratio of 1.35, a quick ratio of 0.83 and a debt-to-equity ratio of 1.41. Caterpillar Inc. has a 1 year low of $223.76 and a 1 year high of $382.01. The stock has a fifty day simple moving average of $342.63 and a 200 day simple moving average of $327.61. The stock has a market cap of $159.25 billion, a P/E ratio of 14.68, a PEG ratio of 1.68 and a beta of 1.14.

Caterpillar (NYSE:CATGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.12 by $0.48. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. The firm had revenue of $15.80 billion for the quarter, compared to analyst estimates of $16.07 billion. On average, research analysts forecast that Caterpillar Inc. will post 21.84 earnings per share for the current fiscal year.

Caterpillar declared that its Board of Directors has initiated a stock buyback program on Wednesday, June 12th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the industrial products company to purchase up to 12.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Caterpillar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Monday, July 22nd will be issued a dividend of $1.41 per share. The ex-dividend date of this dividend is Monday, July 22nd. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.73%. This is a positive change from Caterpillar’s previous quarterly dividend of $1.30. Caterpillar’s dividend payout ratio (DPR) is currently 23.48%.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director David Maclennan acquired 500 shares of the stock in a transaction on Friday, May 3rd. The shares were bought at an average price of $337.39 per share, with a total value of $168,695.00. Following the acquisition, the director now owns 5,738 shares of the company’s stock, valued at $1,935,943.82. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Cheryl H. Johnson sold 1,508 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $340.00, for a total transaction of $512,720.00. Following the sale, the insider now owns 20,023 shares of the company’s stock, valued at approximately $6,807,820. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David Maclennan purchased 500 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were purchased at an average cost of $337.39 per share, for a total transaction of $168,695.00. Following the purchase, the director now directly owns 5,738 shares in the company, valued at $1,935,943.82. The disclosure for this purchase can be found here. 0.33% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently commented on CAT. JPMorgan Chase & Co. raised their price target on Caterpillar from $385.00 to $435.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. Stifel Nicolaus lowered Caterpillar from a “buy” rating to a “hold” rating and raised their price target for the stock from $293.00 to $350.00 in a research report on Friday, April 26th. Oppenheimer reiterated a “market perform” rating on shares of Caterpillar in a report on Thursday, April 18th. Truist Financial assumed coverage on Caterpillar in a report on Thursday, March 14th. They issued a “buy” rating and a $390.00 target price for the company. Finally, The Goldman Sachs Group lifted their target price on Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $327.13.

Check Out Our Latest Research Report on CAT

Caterpillar Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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