Caterpillar Inc. (NYSE:CAT) Shares Sold by AAFMAA Wealth Management & Trust LLC

AAFMAA Wealth Management & Trust LLC lessened its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 13.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,846 shares of the industrial products company's stock after selling 889 shares during the quarter. AAFMAA Wealth Management & Trust LLC's holdings in Caterpillar were worth $1,928,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CAT. Vanguard Capital Wealth Advisors increased its position in Caterpillar by 2.2% during the 1st quarter. Vanguard Capital Wealth Advisors now owns 3,548 shares of the industrial products company's stock worth $1,170,000 after purchasing an additional 78 shares in the last quarter. Stokes Capital Advisors LLC purchased a new stake in Caterpillar during the 1st quarter worth about $3,606,000. Independence Bank of Kentucky increased its position in Caterpillar by 2.0% during the 1st quarter. Independence Bank of Kentucky now owns 2,172 shares of the industrial products company's stock worth $716,000 after purchasing an additional 42 shares in the last quarter. Impact Capital Partners LLC increased its position in Caterpillar by 4.4% during the 1st quarter. Impact Capital Partners LLC now owns 1,727 shares of the industrial products company's stock worth $570,000 after purchasing an additional 73 shares in the last quarter. Finally, First National Corp MA ADV increased its position in Caterpillar by 6.3% during the 1st quarter. First National Corp MA ADV now owns 1,394 shares of the industrial products company's stock worth $460,000 after purchasing an additional 82 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Insider Buying and Selling

In related news, Director David Maclennan purchased 375 shares of Caterpillar stock in a transaction that occurred on Wednesday, May 7th. The shares were purchased at an average cost of $320.70 per share, with a total value of $120,262.50. Following the transaction, the director now owns 6,653 shares of the company's stock, valued at approximately $2,133,617.10. The trade was a 5.97% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently commented on CAT shares. Citigroup lifted their price objective on Caterpillar from $320.00 to $370.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. UBS Group upgraded Caterpillar from a "sell" rating to a "neutral" rating and lifted their price target for the company from $272.00 to $357.00 in a report on Friday, May 16th. DA Davidson lifted their price target on Caterpillar from $325.00 to $331.00 and gave the company a "neutral" rating in a report on Monday, May 5th. Baird R W upgraded Caterpillar from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Finally, Truist Financial restated a "buy" rating and issued a $396.00 price target (up previously from $389.00) on shares of Caterpillar in a report on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $372.92.

Caterpillar Trading Up 1.3%

Shares of NYSE:CAT traded up $4.53 during trading on Friday, reaching $353.49. 1,605,025 shares of the stock were exchanged, compared to its average volume of 2,597,326. 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 12-month low of $267.30 and a 12-month high of $418.50. The firm has a market cap of $166.51 billion, a price-to-earnings ratio of 16.02, a price-to-earnings-growth ratio of 1.87 and a beta of 1.37. The firm's 50-day moving average price is $320.74 and its 200 day moving average price is $349.91.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing the consensus estimate of $4.35 by ($0.10). The company had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.64 billion. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. The business's revenue was down 9.8% on a year-over-year basis. During the same period last year, the firm posted $5.60 earnings per share. On average, sell-side analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Monday, April 21st were given a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Monday, April 21st. Caterpillar's dividend payout ratio (DPR) is presently 27.49%.

Caterpillar Company 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.