Caterpillar Inc. (NYSE:CAT) Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. lessened its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 7.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 349,672 shares of the industrial products company's stock after selling 29,152 shares during the quarter. Bessemer Group Inc. owned about 0.07% of Caterpillar worth $115,322,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in Caterpillar during the fourth quarter valued at $2,184,364,000. GAMMA Investing LLC raised its position in shares of Caterpillar by 43,447.3% during the 1st quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company's stock valued at $1,230,239,000 after buying an additional 3,721,693 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of Caterpillar by 69.3% in the 4th quarter. Capital Research Global Investors now owns 2,924,054 shares of the industrial products company's stock valued at $1,060,730,000 after acquiring an additional 1,196,861 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Caterpillar in the fourth quarter worth about $353,231,000. Finally, Proficio Capital Partners LLC increased its stake in Caterpillar by 50,072.7% during the fourth quarter. Proficio Capital Partners LLC now owns 804,770 shares of the industrial products company's stock worth $291,938,000 after acquiring an additional 803,166 shares during the last quarter. Institutional investors own 70.98% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. 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 research report on Monday, May 19th. JPMorgan Chase & Co. dropped their target price on Caterpillar from $490.00 to $380.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Baird R W upgraded shares of Caterpillar from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. DA Davidson boosted 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. Finally, Robert W. Baird lifted their target price on Caterpillar from $395.00 to $422.00 and gave the company an "outperform" rating in a research report on Friday, June 20th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Caterpillar has an average rating of "Moderate Buy" and a consensus price target of $380.83.

Caterpillar Stock Up 2.7%

NYSE:CAT traded up $10.12 during midday trading on Thursday, reaching $381.70. 2,571,921 shares of the stock traded hands, compared to its average volume of 2,536,634. The business has a 50-day moving average of $338.55 and a two-hundred day moving average of $346.61. The stock has a market capitalization of $179.80 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 2.47 and a beta of 1.37. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.77 and a current ratio of 1.32. 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 (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 net margin of 15.71% and a return on equity of 53.77%. The business's revenue was down 9.8% compared to the same quarter last year. During the same quarter last year, the company earned $5.60 EPS. On average, equities analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be given a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.58%. This is an increase from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date is Monday, July 21st. Caterpillar's dividend payout ratio is presently 27.49%.

Insider Buying and Selling

In other news, Director David Maclennan acquired 375 shares of the business's 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 completion of the acquisition, 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 document filed with the SEC, which is accessible through this link. 0.33% of the stock is currently owned by company 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.