Burney Co. Sells 3,769 Shares of Caterpillar Inc. $CAT

Key Points

• Burney Co. cut its Caterpillar stake by 29.5% in the first quarter, selling 3,769 shares and leaving it with 9,016 shares valued at about $6.39 million.
• Caterpillar reported strong quarterly results, with EPS of $5.54 beating estimates and revenue of $17.41 billion topping expectations, while revenue rose 22.2% year over year.
• The company also raised its quarterly dividend to $1.63 per share from $1.51, and analysts remain generally upbeat with a consensus rating of Moderate Buy and an average price target of $949.41.

Burney Co. lessened its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 29.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,016 shares of the industrial products company's stock after selling 3,769 shares during the period. Burney Co.'s holdings in Caterpillar were worth $6,388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the company. Signet Private Wealth LLC raised its stake in shares of Caterpillar by 60.7% during the 1st quarter. Signet Private Wealth LLC now owns 911 shares of the industrial products company's stock worth $645,000 after acquiring an additional 344 shares in the last quarter. Collaborative Fund Advisors LLC purchased a new position in Caterpillar in the first quarter worth $439,000. Nvest Financial LLC increased its position in shares of Caterpillar by 17.1% during the first quarter. Nvest Financial LLC now owns 507 shares of the industrial products company's stock worth $359,000 after purchasing an additional 74 shares in the last quarter. Planning Center Inc. lifted its holdings in shares of Caterpillar by 22.3% during the 1st quarter. Planning Center Inc. now owns 1,618 shares of the industrial products company's stock valued at $1,146,000 after purchasing an additional 295 shares during the last quarter. Finally, Kathmere Capital Management LLC lifted its holdings in shares of Caterpillar by 6.2% during the 1st quarter. Kathmere Capital Management LLC now owns 3,672 shares of the industrial products company's stock valued at $2,601,000 after purchasing an additional 216 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Stock Up 0.7%

Caterpillar stock opened at $969.88 on Tuesday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.81 and a current ratio of 1.35. The business's 50-day simple moving average is $921.01 and its two-hundred day simple moving average is $772.97. The company has a market cap of $446.72 billion, a PE ratio of 48.28, a PEG ratio of 1.90 and a beta of 1.57. Caterpillar Inc. has a fifty-two week low of $388.09 and a fifty-two week high of $1,073.46.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The industrial products company reported $5.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.65 by $0.89. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The firm had revenue of $17.41 billion during the quarter, compared to analysts' expectations of $16.53 billion. During the same period last year, the business posted $4.25 earnings per share. The company's revenue for the quarter was up 22.2% compared to the same quarter last year. Equities analysts anticipate that Caterpillar Inc. will post 24.71 EPS for the current year.

Caterpillar Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Monday, July 20th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, July 20th. This is a positive change from Caterpillar's previous quarterly dividend of $1.51. Caterpillar's dividend payout ratio (DPR) is presently 30.06%.

Analysts Set New Price Targets

CAT has been the topic of several research analyst reports. HSBC boosted their target price on Caterpillar from $850.00 to $1,100.00 in a research note on Tuesday, May 5th. Jefferies Financial Group boosted their price target on Caterpillar from $900.00 to $1,045.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. Zacks Research upgraded shares of Caterpillar from a "hold" rating to a "strong-buy" rating in a report on Monday, June 8th. Daiwa Securities Group increased their price objective on shares of Caterpillar from $790.00 to $900.00 and gave the company a "neutral" rating in a research report on Friday, May 1st. Finally, DA Davidson lifted their target price on shares of Caterpillar from $650.00 to $845.00 and gave the stock a "neutral" rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $949.41.

Insiders Place Their Bets

In other news, insider Anthony D. Fassino sold 16,283 shares of the company's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $916.80, for a total value of $14,928,254.40. Following the sale, the insider directly owned 46,041 shares of the company's stock, valued at $42,210,388.80. This represents a 26.13% 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, CFO Andrew R. J. Bonfield sold 15,674 shares of the business's stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $918.71, for a total transaction of $14,399,860.54. Following the transaction, the chief financial officer owned 52,935 shares of the company's stock, valued at $48,631,913.85. This represents a 22.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 95,773 shares of company stock worth $87,642,635. Company insiders own 0.33% of the company's stock.

About Caterpillar

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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