Caterpillar Inc. (NYSE:CAT) Shares Purchased by Audent Global Asset Management LLC

Audent Global Asset Management LLC grew its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 84.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,747 shares of the industrial products company's stock after buying an additional 1,261 shares during the quarter. Audent Global Asset Management LLC's holdings in Caterpillar were worth $906,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CAT. Flagship Wealth Advisors LLC purchased a new stake in Caterpillar during the 4th quarter worth about $26,000. Cyrus J. Lawrence LLC purchased a new stake in Caterpillar during the 4th quarter worth about $27,000. Investment Management Corp VA ADV purchased a new stake in Caterpillar during the 4th quarter worth about $33,000. Curat Global LLC purchased a new stake in Caterpillar during the 1st quarter worth about $33,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in Caterpillar during the 1st quarter worth about $33,000. Hedge funds and other institutional investors own 70.98% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CAT shares. Bank of America lifted their price objective on Caterpillar from $335.00 to $385.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Baird R W upgraded Caterpillar from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Robert W. Baird lifted their price objective on Caterpillar from $395.00 to $422.00 and gave the stock an "outperform" rating in a research report on Friday, June 20th. Morgan Stanley upgraded Caterpillar from an "underweight" rating to an "equal weight" rating and lowered their price target for the company from $300.00 to $283.00 in a report on Wednesday, April 16th. Finally, Evercore ISI lowered their price target on Caterpillar from $375.00 to $373.00 and set an "in-line" rating for the company in a report on Monday, May 19th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $380.83.

Caterpillar Trading Up 0.2%

Shares of NYSE CAT traded up $0.90 during midday trading on Friday, hitting $399.33. The stock had a trading volume of 1,737,838 shares, compared to its average volume of 2,523,847. The company has a market capitalization of $188.10 billion, a price-to-earnings ratio of 19.46, a PEG ratio of 2.64 and a beta of 1.38. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $418.50. The company has a quick ratio of 0.77, a current ratio of 1.32 and a debt-to-equity ratio of 1.43. The company has a fifty day moving average price of $351.96 and a 200 day moving average price of $346.95.

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

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be paid a $1.51 dividend. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend is Monday, July 21st. Caterpillar's payout ratio is currently 27.49%.

Insider Buying and Selling at Caterpillar

In other news, Director David Maclennan acquired 375 shares of Caterpillar stock in a transaction dated Wednesday, May 7th. The shares were acquired at an average cost of $320.70 per share, with a total value of $120,262.50. Following the purchase, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.33% of the stock is owned by corporate insiders.

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.