Caterpillar Inc. (NYSE:CAT) Shares Sold by Cyndeo Wealth Partners LLC

Cyndeo Wealth Partners LLC decreased its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 16.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,332 shares of the industrial products company's stock after selling 837 shares during the quarter. Cyndeo Wealth Partners LLC's holdings in Caterpillar were worth $1,429,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Abacus Planning Group Inc. grew its stake in Caterpillar by 1.0% in the 4th quarter. Abacus Planning Group Inc. now owns 2,897 shares of the industrial products company's stock valued at $1,051,000 after acquiring an additional 28 shares during the period. Cape Investment Advisory Inc. lifted its holdings in Caterpillar by 6.3% during the fourth quarter. Cape Investment Advisory Inc. now owns 471 shares of the industrial products company's stock valued at $171,000 after purchasing an additional 28 shares in the last quarter. Klingman & Associates LLC lifted its holdings in Caterpillar by 4.5% during the fourth quarter. Klingman & Associates LLC now owns 703 shares of the industrial products company's stock valued at $255,000 after purchasing an additional 30 shares in the last quarter. Carrera Capital Advisors increased its stake in shares of Caterpillar by 2.5% during the fourth quarter. Carrera Capital Advisors now owns 1,238 shares of the industrial products company's stock worth $449,000 after purchasing an additional 30 shares in the last quarter. Finally, BBR Partners LLC raised its position in shares of Caterpillar by 0.7% during the 4th quarter. BBR Partners LLC now owns 4,162 shares of the industrial products company's stock worth $1,510,000 after purchasing an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Robert W. Baird boosted their price objective on Caterpillar from $395.00 to $422.00 and gave the stock an "outperform" rating in a research note on Friday. Baird R W upgraded Caterpillar from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Bank of America raised their price objective on Caterpillar from $335.00 to $385.00 and gave the company a "buy" rating in a report on Friday, May 30th. UBS Group raised shares of Caterpillar from a "sell" rating to a "neutral" rating and upped their target price for the stock from $272.00 to $357.00 in a report on Friday, May 16th. Finally, Oppenheimer raised shares of Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 price target on the stock in a research note on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $375.17.

Caterpillar Trading Up 0.1%

Shares of Caterpillar stock traded up $0.43 during mid-day trading on Friday, hitting $360.23. The stock had a trading volume of 5,771,873 shares, compared to its average volume of 2,563,012. The firm has a market cap of $169.68 billion, a P/E ratio of 17.56, a price-to-earnings-growth ratio of 2.40 and a beta of 1.37. The company has a quick ratio of 0.77, a current ratio of 1.32 and a debt-to-equity ratio of 1.43. The firm has a 50-day moving average of $332.62 and a two-hundred day moving average of $347.41. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $418.50.

Caterpillar (NYSE:CAT - Get Free Report) last posted its 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). Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. The business had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.64 billion. During the same period last year, the business earned $5.60 EPS. Caterpillar's revenue was down 9.8% compared to the same quarter last year. Sell-side analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be given a $1.51 dividend. The ex-dividend date is Monday, July 21st. This represents a $6.04 dividend on an annualized basis and a yield of 1.68%. This is a boost from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's dividend payout ratio is presently 29.43%.

Insiders Place Their Bets

In related news, Director David Maclennan acquired 375 shares of the firm's stock in a transaction dated Wednesday, May 7th. The shares were purchased at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the acquisition, the director now owns 6,653 shares in the company, valued at $2,133,617.10. The trade was a 5.97% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is currently owned by insiders.

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.