Caterpillar Inc. (NYSE:CAT) Shares Sold by AEGON ASSET MANAGEMENT UK Plc

AEGON ASSET MANAGEMENT UK Plc trimmed its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 25.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,053 shares of the industrial products company's stock after selling 21,147 shares during the period. AEGON ASSET MANAGEMENT UK Plc's holdings in Caterpillar were worth $20,801,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CAT. Pacific Point Advisors LLC purchased a new position in shares of Caterpillar during the 4th quarter worth approximately $579,000. Brighton Jones LLC increased its stake in shares of Caterpillar by 51.5% during the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company's stock worth $2,688,000 after purchasing an additional 2,519 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of Caterpillar during the 4th quarter worth approximately $7,396,000. Chicago Partners Investment Group LLC increased its stake in shares of Caterpillar by 13.1% during the 4th quarter. Chicago Partners Investment Group LLC now owns 2,389 shares of the industrial products company's stock worth $863,000 after purchasing an additional 276 shares in the last quarter. Finally, DAVENPORT & Co LLC increased its stake in shares of Caterpillar by 5.7% during the 4th quarter. DAVENPORT & Co LLC now owns 45,055 shares of the industrial products company's stock worth $16,344,000 after purchasing an additional 2,430 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Stock Up 1.3%

Caterpillar stock traded up $4.53 during midday trading on Friday, hitting $353.49. 1,605,025 shares of the stock were exchanged, compared to its average volume of 2,597,326. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $418.50. The firm has a market cap of $166.51 billion, a P/E ratio of 16.02, a P/E/G ratio of 1.87 and a beta of 1.37. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. The company has a 50 day moving average price of $320.74 and a two-hundred day moving average price of $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 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.35 by ($0.10). Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. The firm had revenue of $14.25 billion for the quarter, compared to analysts' expectations of $14.64 billion. During the same period last year, the firm earned $5.60 EPS. The business's quarterly revenue was down 9.8% on a year-over-year basis. On average, sell-side analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Monday, April 21st were given a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.60%. The ex-dividend date was Monday, April 21st. Caterpillar's payout ratio is currently 27.49%.

Insider Transactions at Caterpillar

In related news, Director David Maclennan bought 375 shares of the company's stock in a transaction dated Wednesday, May 7th. The stock was bought at an average price 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. This trade represents a 5.97% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Robert W. Baird upgraded shares of Caterpillar from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $309.00 to $395.00 in a research report on Tuesday, May 13th. Morgan Stanley upgraded shares of Caterpillar from an "underweight" rating to an "equal weight" rating and decreased their target price for the stock from $300.00 to $283.00 in a research report on Wednesday, April 16th. Evercore ISI decreased their target price on shares of Caterpillar from $375.00 to $373.00 and set an "in-line" rating on the stock in a research report on Monday, May 19th. Wall Street Zen lowered shares of Caterpillar from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Finally, Citigroup raised their target price on shares of Caterpillar from $320.00 to $370.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Caterpillar currently has a consensus rating of "Moderate Buy" and an average target price of $372.92.

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.