Caterpillar Inc. (NYSE:CAT) Position Lowered by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 2.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 3,159,486 shares of the industrial products company's stock after selling 82,611 shares during the period. Bank of New York Mellon Corp owned 0.66% of Caterpillar worth $1,041,998,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Flagship Wealth Advisors LLC acquired a new position in Caterpillar in the 4th quarter valued at $26,000. Cyrus J. Lawrence LLC acquired a new stake in shares of Caterpillar during the 4th quarter worth $27,000. Investment Management Corp VA ADV acquired a new stake in shares of Caterpillar during the 4th quarter worth $33,000. Quarry LP acquired a new stake in shares of Caterpillar during the 4th quarter worth $35,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in shares of Caterpillar during the 4th quarter worth $36,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Up 0.2%

NYSE:CAT traded up $0.90 on Friday, reaching $399.33. The stock had a trading volume of 1,737,838 shares, compared to its average volume of 2,524,822. The company has a current ratio of 1.32, a quick ratio of 0.77 and a debt-to-equity ratio of 1.43. The company has a 50-day moving average of $351.96 and a 200 day moving average of $346.84. The stock has a market cap of $188.10 billion, a P/E ratio of 19.46, a price-to-earnings-growth ratio of 2.64 and a beta of 1.38. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $418.50.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of $14.25 billion during the quarter, compared to analysts' expectations of $14.64 billion. Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The business's quarterly revenue was down 9.8% on a year-over-year basis. During the same period in the previous year, the company earned $5.60 earnings per share. On average, research 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. Shareholders of record on Monday, July 21st will be given a $1.51 dividend. This is a boost from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend is Monday, July 21st. Caterpillar's dividend payout ratio is presently 27.49%.

Insiders Place Their Bets

In related news, Director David Maclennan purchased 375 shares of Caterpillar stock in a transaction dated Wednesday, May 7th. The shares were acquired at an average price of $320.70 per share, with a total value of $120,262.50. Following the completion of the transaction, the director 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CAT. Bank of America upped their price objective on Caterpillar from $335.00 to $385.00 and gave the stock a "buy" rating in a report on Friday, May 30th. UBS Group upgraded Caterpillar from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $272.00 to $357.00 in a report on Friday, May 16th. Morgan Stanley raised shares of Caterpillar from an "underweight" rating to an "equal weight" rating and decreased their price target for the stock from $300.00 to $283.00 in a research report on Wednesday, April 16th. DA Davidson upped their price target on shares of Caterpillar from $325.00 to $331.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. Finally, Evercore ISI decreased their price target on shares of Caterpillar from $375.00 to $373.00 and set an "in-line" rating for the company in a research report on Monday, May 19th. Six investment 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's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $380.83.

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.