Caterpillar Inc. (NYSE:CAT) Shares Sold by Court Place Advisors LLC

Court Place Advisors LLC lowered its position in shares of Caterpillar Inc. (NYSE:CAT) by 4.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,635 shares of the industrial products company’s stock after selling 276 shares during the period. Court Place Advisors LLC’s holdings in Caterpillar were worth $2,188,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CAT. Pacific Point Advisors LLC acquired a new position in Caterpillar in the 4th quarter valued at about $579,000. Brighton Jones LLC increased its position in Caterpillar by 51.5% in the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock valued at $2,688,000 after acquiring an additional 2,519 shares during the period. Proficio Capital Partners LLC increased its position in Caterpillar by 38.3% in the 4th quarter. Proficio Capital Partners LLC now owns 2,218 shares of the industrial products company’s stock valued at $805,000 after acquiring an additional 614 shares during the period. AlphaQuest LLC increased its position in Caterpillar by 196.7% in the 4th quarter. AlphaQuest LLC now owns 1,733 shares of the industrial products company’s stock valued at $629,000 after acquiring an additional 1,149 shares during the period. Finally, Johnson Investment Counsel Inc. increased its position in Caterpillar by 1.3% in the 4th quarter. Johnson Investment Counsel Inc. now owns 12,659 shares of the industrial products company’s stock valued at $4,592,000 after acquiring an additional 160 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $394.22 on Wednesday. The business’s 50 day simple moving average is $355.40 and its 200-day simple moving average is $347.25. The firm has a market capitalization of $185.69 billion, a price-to-earnings ratio of 19.21, a price-to-earnings-growth ratio of 2.60 and a beta of 1.38. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.32 and a quick ratio of 0.77. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $418.50.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.35 by ($0.10). Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. The company had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.64 billion. During the same quarter in the prior year, the firm earned $5.60 earnings per share. The company’s revenue for the quarter was down 9.8% on a year-over-year basis. As a group, equities analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be given a dividend of $1.51 per share. This is an increase from Caterpillar’s previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Monday, July 21st. Caterpillar’s payout ratio is currently 27.49%.

Insider Activity

In related news, Director David Maclennan acquired 375 shares of the business’s stock in a transaction that occurred on Wednesday, May 7th. The stock was purchased at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the transaction, the director directly owned 6,653 shares of the company’s stock, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.33% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CAT shares. Truist Financial lifted their price objective on Caterpillar from $396.00 to $414.00 and gave the company a “buy” rating in a report on Monday, June 23rd. Robert W. Baird lifted their price objective on Caterpillar from $395.00 to $422.00 and gave the company an “outperform” rating in a report on Friday, June 20th. Oppenheimer raised Caterpillar from a “market perform” rating to an “outperform” rating and set a $395.00 price objective on the stock in a report on Thursday, May 1st. Baird R W raised Caterpillar from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. lowered their price objective on Caterpillar from $490.00 to $380.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Six equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $390.00.

About Caterpillar

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.