Chevy Chase Trust Holdings LLC Cuts Position in Caterpillar Inc. (NYSE:CAT)

Chevy Chase Trust Holdings LLC lowered its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 1.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 256,490 shares of the industrial products company's stock after selling 3,417 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of Caterpillar worth $84,590,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Flagship Wealth Advisors LLC purchased a new position in Caterpillar in the 4th quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC bought a new position in Caterpillar in the fourth quarter valued at $27,000. Cyrus J. Lawrence LLC purchased a new stake in Caterpillar during the fourth quarter valued at about $27,000. Noble Wealth Management PBC bought a new stake in Caterpillar during the fourth quarter worth about $31,000. Finally, Investment Management Corp VA ADV purchased a new position in shares of Caterpillar in the 4th quarter worth about $33,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director David Maclennan acquired 375 shares of the stock in a transaction dated Wednesday, May 7th. The stock was acquired at an average cost of $320.70 per share, with a total value of $120,262.50. Following the completion of the transaction, the director now owns 6,653 shares in the company, valued at $2,133,617.10. This represents a 5.97% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.33% of the company's stock.

Caterpillar Price Performance

NYSE CAT traded down $1.39 during mid-day trading on Wednesday, hitting $371.63. The stock had a trading volume of 1,737,411 shares, compared to its average volume of 2,537,007. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $418.50. The stock has a market capitalization of $175.05 billion, a price-to-earnings ratio of 18.11, a PEG ratio of 2.44 and a beta of 1.37. The firm's 50 day moving average is $336.93 and its 200 day moving average is $346.43. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.32 and a quick ratio of 0.77.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) 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 company's revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period in the prior year, the company posted $5.60 EPS. Equities research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be given a dividend of $1.51 per share. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Monday, July 21st. Caterpillar's dividend payout ratio (DPR) is currently 29.43%.

Wall Street Analyst Weigh In

CAT has been the subject of a number of recent research reports. Wall Street Zen downgraded Caterpillar from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. cut their price objective on shares of Caterpillar from $490.00 to $380.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Bank of America raised their price target on Caterpillar from $335.00 to $385.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Morgan Stanley raised Caterpillar from an "underweight" rating to an "equal weight" rating and reduced their target price for the company from $300.00 to $283.00 in a research note on Wednesday, April 16th. Finally, UBS Group raised Caterpillar from a "sell" rating to a "neutral" rating and raised their price objective for the company from $272.00 to $357.00 in a research report on Friday, May 16th. Six research 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. According to MarketBeat.com, Caterpillar has a consensus rating of "Moderate Buy" and a consensus target price 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.