Caterpillar Inc. (NYSE:CAT) Shares Sold by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC lowered its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 20.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,075 shares of the industrial products company’s stock after selling 2,040 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Caterpillar were worth $2,959,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CAT. Partnership Wealth Management LLC purchased a new position in Caterpillar during the fourth quarter worth approximately $26,000. Richardson Financial Services Inc. acquired a new position in shares of Caterpillar in the 4th quarter valued at approximately $27,000. Thompson Investment Management Inc. acquired a new position in Caterpillar during the 1st quarter worth $27,000. Gilfoyle & Co LLC bought a new stake in Caterpillar in the fourth quarter valued at about $30,000. Finally, Vima LLC acquired a new stake in shares of Caterpillar during the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Buying and Selling at Caterpillar

In other news, insider Cheryl H. Johnson sold 1,508 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $340.00, for a total transaction of $512,720.00. Following the completion of the transaction, the insider now owns 20,023 shares of the company’s stock, valued at $6,807,820. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Lange Bob De sold 21,847 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $356.90, for a total transaction of $7,797,194.30. Following the completion of the transaction, the insider now directly owns 71,115 shares of the company’s stock, valued at approximately $25,380,943.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Cheryl H. Johnson sold 1,508 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $340.00, for a total transaction of $512,720.00. Following the completion of the sale, the insider now directly owns 20,023 shares in the company, valued at approximately $6,807,820. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. HSBC boosted their target price on shares of Caterpillar from $330.00 to $360.00 and gave the stock a “hold” rating in a report on Tuesday, April 30th. Raymond James initiated coverage on Caterpillar in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. TD Cowen upped their price target on shares of Caterpillar from $338.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, Oppenheimer reissued a “market perform” rating on shares of Caterpillar in a research note on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Caterpillar presently has a consensus rating of “Hold” and a consensus price target of $329.63.

Caterpillar Stock Performance

NYSE:CAT traded down $1.16 during midday trading on Friday, reaching $329.45. The stock had a trading volume of 680,856 shares, compared to its average volume of 2,690,768. The stock has a market capitalization of $161.12 billion, a P/E ratio of 14.86, a PEG ratio of 1.70 and a beta of 1.12. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.35 and a quick ratio of 0.83. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $382.01. The firm’s fifty day simple moving average is $338.22 and its 200-day simple moving average is $330.09.

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 the consensus estimate of $5.12 by $0.48. The firm had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $16.07 billion. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. On average, equities research analysts forecast that Caterpillar Inc. will post 21.8 EPS for the current fiscal year.

Caterpillar announced that its Board of Directors has approved a stock buyback plan on Wednesday, June 12th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to buy up to 12.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Caterpillar Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Monday, July 22nd will be paid a dividend of $1.41 per share. This is a boost from Caterpillar’s previous quarterly dividend of $1.30. This represents a $5.64 annualized dividend and a yield of 1.71%. The ex-dividend date is Monday, July 22nd. Caterpillar’s dividend payout ratio is presently 23.48%.

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.