Catalina Capital Group LLC Sells 1,464 Shares of Caterpillar Inc. (NYSE:CAT)

Catalina Capital Group LLC cut its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 54.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,238 shares of the industrial products company's stock after selling 1,464 shares during the quarter. Catalina Capital Group LLC's holdings in Caterpillar were worth $408,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Caterpillar during the 4th quarter valued at approximately $2,184,364,000. GAMMA Investing LLC grew its stake in shares of Caterpillar by 43,447.3% in the first quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company's stock worth $1,230,239,000 after acquiring an additional 3,721,693 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of Caterpillar by 69.3% during the fourth 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 in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Caterpillar in the 4th quarter worth about $353,231,000. Finally, Proficio Capital Partners LLC boosted its stake in Caterpillar by 50,072.7% in the 4th quarter. Proficio Capital Partners LLC now owns 804,770 shares of the industrial products company's stock worth $291,938,000 after purchasing an additional 803,166 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Stock Performance

Caterpillar stock traded up $2.44 during mid-day trading on Friday, reaching $362.24. 1,263,401 shares of the stock traded hands, compared to its average volume of 2,543,753. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $418.50. The business's 50-day moving average is $332.62 and its 200-day moving average is $347.41. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.32 and a quick ratio of 0.77. The stock has a market capitalization of $170.63 billion, a PE ratio of 17.62, a price-to-earnings-growth ratio of 2.40 and a beta of 1.37.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing the consensus estimate of $4.35 by ($0.10). The business had revenue of $14.25 billion for 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%. Caterpillar's revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period in the previous year, the company earned $5.60 EPS. As a group, sell-side analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 1.67%. The ex-dividend date is Monday, July 21st. This is a boost from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's dividend payout ratio (DPR) is currently 29.43%.

Insider Transactions at Caterpillar

In related news, Director David Maclennan bought 375 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were bought at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CAT has been the subject of several recent analyst reports. Robert W. Baird lifted their target price on shares of Caterpillar from $395.00 to $422.00 and gave the stock an "outperform" rating in a report on Friday. Baird R W raised shares of Caterpillar from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Citigroup upped their price objective on Caterpillar from $320.00 to $370.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Truist Financial reissued a "buy" rating and issued a $396.00 target price (up previously from $389.00) on shares of Caterpillar in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. decreased their price target on Caterpillar from $490.00 to $380.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Caterpillar currently has an average rating of "Moderate Buy" and an average target price of $375.17.

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.