Caterpillar Inc. (NYSE:CAT) Shares Sold by Clark & Stuart Inc

Clark & Stuart Inc trimmed its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 80.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 689 shares of the industrial products company's stock after selling 2,895 shares during the quarter. Clark & Stuart Inc's holdings in Caterpillar were worth $227,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Flagship Wealth Advisors LLC acquired a new position in shares of Caterpillar during the fourth quarter worth about $26,000. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Caterpillar during the fourth quarter worth about $27,000. Cyrus J. Lawrence LLC acquired a new position in shares of Caterpillar during the fourth quarter worth about $27,000. Noble Wealth Management PBC acquired a new position in Caterpillar during the fourth quarter worth about $31,000. Finally, Investment Management Corp VA ADV acquired a new position in Caterpillar during the fourth quarter worth about $33,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Caterpillar

In other news, Director David Maclennan acquired 375 shares of Caterpillar stock in a transaction that occurred on Wednesday, May 7th. The shares were acquired at an average price of $320.70 per share, with a total value of $120,262.50. Following the completion of the purchase, the director now owns 6,653 shares of the company's stock, valued at approximately $2,133,617.10. This represents a 5.97% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.33% of the company's stock.

Caterpillar Stock Up 0.6%

Shares of NYSE CAT opened at $359.73 on Friday. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $418.50. The company has a market capitalization of $169.45 billion, a PE ratio of 17.53, a price-to-earnings-growth ratio of 2.40 and a beta of 1.37. 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 firm's 50-day moving average is $332.62 and its two-hundred day moving average is $347.41.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings results 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 business 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 firm's revenue for the quarter was down 9.8% on a year-over-year basis. During the same period last year, the company earned $5.60 EPS. Equities analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be paid a dividend of $1.51 per share. This is an increase from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date of this dividend is Monday, July 21st. This represents a $6.04 annualized dividend and a dividend yield of 1.68%. Caterpillar's dividend payout ratio is presently 27.49%.

Analyst Ratings Changes

Several research analysts have weighed in on CAT shares. Oppenheimer upgraded shares of Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 target price on the stock in a research report on Thursday, May 1st. JPMorgan Chase & Co. lowered their target price on shares of Caterpillar from $490.00 to $380.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Wall Street Zen lowered shares of Caterpillar from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Evercore ISI lowered their target price on shares of Caterpillar from $375.00 to $373.00 and set an "in-line" rating on the stock in a research report on Monday, May 19th. Finally, DA Davidson upped their target price on shares of Caterpillar from $325.00 to $331.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. 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, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $372.92.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.