Caterpillar Inc. (NYSE:CAT) Shares Sold by Quintet Private Bank Europe S.A.

Quintet Private Bank Europe S.A. trimmed its holdings in Caterpillar Inc. (NYSE:CAT) by 1.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,416 shares of the industrial products company’s stock after selling 64 shares during the period. Quintet Private Bank Europe S.A.’s holdings in Caterpillar were worth $1,127,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Flagship Wealth Advisors LLC acquired a new position in shares of Caterpillar during the 4th quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC purchased a new position in Caterpillar during the fourth quarter worth $27,000. Cyrus J. Lawrence LLC acquired a new stake in shares of Caterpillar during the fourth quarter valued at $27,000. Noble Wealth Management PBC acquired a new stake in shares of Caterpillar during the fourth quarter valued at $31,000. Finally, Investment Management Corp VA ADV acquired a new stake in shares of Caterpillar during the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Down 0.6%

Shares of NYSE:CAT opened at $360.85 on Friday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $418.50. The stock has a market capitalization of $169.98 billion, a P/E ratio of 16.35, a PEG ratio of 1.87 and a beta of 1.37. The stock has a 50-day simple moving average of $325.40 and a 200-day simple moving average of $348.98.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.10). Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. The business had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.64 billion. During the same period last year, the firm earned $5.60 earnings per share. The company’s quarterly revenue was down 9.8% on a year-over-year basis. Equities analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be issued a $1.51 dividend. This is an increase from Caterpillar’s previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a yield of 1.67%. The ex-dividend date is Monday, July 21st. Caterpillar’s dividend payout ratio is currently 27.49%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CAT shares. Bank of America upped their target price on shares of Caterpillar from $335.00 to $385.00 and gave the company a “buy” rating in a report on Friday, May 30th. Robert W. Baird raised shares of Caterpillar from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $309.00 to $395.00 in a research note on Tuesday, May 13th. Morgan Stanley raised shares of Caterpillar from an “underweight” rating to an “equal weight” rating and lowered their target price for the stock from $300.00 to $283.00 in a research note on Wednesday, April 16th. Evercore ISI decreased their price objective on Caterpillar from $375.00 to $373.00 and set an “in-line” rating on the stock in a report on Monday, May 19th. Finally, Oppenheimer upgraded Caterpillar from a “market perform” rating to an “outperform” rating and set a $395.00 target price on the stock in a research report on Thursday, May 1st. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $372.92.

Insider Transactions at Caterpillar

In other news, Director David Maclennan purchased 375 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was acquired at an average cost of $320.70 per share, with a total value of $120,262.50. Following the acquisition, the director now owns 6,653 shares in the company, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.33% of the company’s stock.

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.