Caterpillar Inc. (NYSE:CAT) Holdings Decreased by Steel Grove Capital Advisors LLC

Steel Grove Capital Advisors LLC cut its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 6.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,135 shares of the industrial products company’s stock after selling 74 shares during the quarter. Steel Grove Capital Advisors LLC’s holdings in Caterpillar were worth $416,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Partnership Wealth Management LLC purchased a new stake in Caterpillar in the 4th quarter worth approximately $26,000. Richardson Financial Services Inc. acquired a new position in Caterpillar in the 4th quarter worth about $27,000. Thompson Investment Management Inc. purchased a new stake in shares of Caterpillar during the 1st quarter worth about $27,000. Fairman Group LLC bought a new stake in shares of Caterpillar in the 1st quarter valued at approximately $29,000. Finally, Gilfoyle & Co LLC acquired a new stake in Caterpillar in the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Up 1.8 %

NYSE:CAT traded up $6.18 during mid-day trading on Friday, hitting $350.48. The company had a trading volume of 1,894,930 shares, compared to its average volume of 2,951,150. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.83 and a current ratio of 1.35. Caterpillar Inc. has a fifty-two week low of $223.76 and a fifty-two week high of $382.01. The firm has a market cap of $171.40 billion, a P/E ratio of 15.82, a P/E/G ratio of 1.82 and a beta of 1.12. The business’s fifty day moving average is $336.58 and its two-hundred day moving average is $335.97.

Caterpillar (NYSE:CAT) last announced its quarterly 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. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. The business had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $16.07 billion. As a group, research analysts expect that Caterpillar Inc. will post 21.61 earnings per share for the current year.

Caterpillar declared that its Board of Directors has authorized a stock repurchase program on Wednesday, June 12th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the industrial products company to purchase up to 12.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.

Caterpillar Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd will be issued a $1.41 dividend. This is a positive change from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date is Monday, July 22nd. This represents a $5.64 annualized dividend and a dividend yield of 1.61%. Caterpillar’s payout ratio is 25.46%.

Insider Buying and Selling

In other Caterpillar news, Director David Maclennan purchased 500 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 5,738 shares in the company, valued at approximately $1,935,943.82. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director David Maclennan acquired 500 shares of the stock in a transaction dated Friday, May 3rd. The stock was bought at an average price of $337.39 per share, with a total value of $168,695.00. Following the completion of the transaction, the director now directly owns 5,738 shares of the company’s stock, valued at $1,935,943.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Cheryl H. Johnson sold 1,508 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 20,023 shares of the company’s stock, valued at $6,807,820. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,863 shares of company stock valued at $8,837,714. 0.33% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CAT. The Goldman Sachs Group lifted their price objective on shares of Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. JPMorgan Chase & Co. increased their price target on Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Raymond James began coverage on shares of Caterpillar in a report on Friday, June 28th. They set a “market perform” rating for the company. HSBC lifted 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. Finally, Stifel Nicolaus downgraded Caterpillar from a “buy” rating to a “hold” rating and raised their price target for the company from $293.00 to $350.00 in a research report on Friday, April 26th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $329.63.

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.