Bradley Foster & Sargent Inc. CT Sells 3,527 Shares of Caterpillar Inc. $CAT

Key Points

• Bradley Foster & Sargent Inc. CT cut its Caterpillar stake by 3.3% in the first quarter, selling 3,527 shares and ending with 103,659 shares worth about $73.4 million.
• Caterpillar reported strong quarterly results, with EPS of $5.54 beating estimates and revenue of $17.41 billion also topping expectations, while sales rose 22.2% year over year.
• The company raised its dividend to $1.63 per quarter from $1.51, and Wall Street remains broadly positive with a consensus Moderate Buy rating and an average price target of $980.57.

Bradley Foster & Sargent Inc. CT trimmed its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 103,659 shares of the industrial products company's stock after selling 3,527 shares during the period. Caterpillar makes up about 1.1% of Bradley Foster & Sargent Inc. CT's investment portfolio, making the stock its 23rd largest holding. Bradley Foster & Sargent Inc. CT's holdings in Caterpillar were worth $73,438,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Lam Group Inc. purchased a new stake in shares of Caterpillar during the 1st quarter valued at about $26,000. Torren Management LLC purchased a new position in shares of Caterpillar during the fourth quarter valued at approximately $27,000. Frazier Financial Advisors LLC lifted its position in Caterpillar by 220.0% during the fourth quarter. Frazier Financial Advisors LLC now owns 48 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 33 shares during the period. Cornerstone Financial Management LLC purchased a new stake in Caterpillar in the fourth quarter worth approximately $32,000. Finally, Monetary Solutions Ltd bought a new stake in Caterpillar in the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 70.98% of the company's stock.

Caterpillar Trading Down 0.6%

Shares of CAT stock opened at $889.23 on Friday. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 0.81. The company has a market cap of $409.57 billion, a price-to-earnings ratio of 44.26, a PEG ratio of 1.74 and a beta of 1.57. Caterpillar Inc. has a 1 year low of $405.46 and a 1 year high of $1,073.46. The firm has a fifty day moving average price of $928.88 and a 200-day moving average price of $804.12.

Caterpillar (NYSE:CAT - Get Free Report) last announced its earnings results on Thursday, April 30th. The industrial products company reported $5.54 EPS for the quarter, topping analysts' consensus estimates of $4.65 by $0.89. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The company had revenue of $17.41 billion for the quarter, compared to analysts' expectations of $16.53 billion. During the same period last year, the firm earned $4.25 EPS. Caterpillar's revenue for the quarter was up 22.2% compared to the same quarter last year. As a group, equities analysts predict that Caterpillar Inc. will post 24.87 earnings per share for the current year.

Caterpillar Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Monday, July 20th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.7%. This is an increase from Caterpillar's previous quarterly dividend of $1.51. The ex-dividend date of this dividend is Monday, July 20th. Caterpillar's dividend payout ratio is 32.45%.

Insider Activity

In other Caterpillar news, insider Jason Kaiser sold 5,642 shares of the firm's stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $883.03, for a total transaction of $4,982,055.26. Following the sale, the insider owned 9,594 shares in the company, valued at approximately $8,471,789.82. This trade represents a 37.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lange Bob De sold 24,222 shares of Caterpillar stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $922.92, for a total transaction of $22,354,968.24. Following the transaction, the insider directly owned 86,029 shares in the company, valued at $79,397,884.68. This represents a 21.97% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 95,773 shares of company stock worth $87,642,635. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Evercore reiterated an "outperform" rating and set a $1,103.00 target price on shares of Caterpillar in a research note on Monday, May 11th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Caterpillar in a research report on Friday, May 8th. Zacks Research downgraded Caterpillar from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 14th. HSBC raised their target price on Caterpillar from $850.00 to $1,100.00 in a research report on Tuesday, May 5th. Finally, Wells Fargo & Company boosted their price target on Caterpillar from $1,050.00 to $1,155.00 and gave the company an "overweight" rating in a research note on Tuesday, June 23rd. Fifteen analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $980.57.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company's product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.

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