Caterpillar Inc. (NYSE:CAT) Shares Sold by Global Trust Asset Management LLC

Global Trust Asset Management LLC cut its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 39.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,463 shares of the industrial products company's stock after selling 3,627 shares during the quarter. Caterpillar accounts for approximately 1.1% of Global Trust Asset Management LLC's investment portfolio, making the stock its 17th largest position. Global Trust Asset Management LLC's holdings in Caterpillar were worth $1,802,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Rakuten Securities Inc. raised its position in Caterpillar by 103.8% during the first quarter. Rakuten Securities Inc. now owns 375 shares of the industrial products company's stock valued at $124,000 after purchasing an additional 191 shares during the period. Wagner Wealth Management LLC increased its position in shares of Caterpillar by 31.3% during the 1st quarter. Wagner Wealth Management LLC now owns 877 shares of the industrial products company's stock valued at $289,000 after purchasing an additional 209 shares during the last quarter. Strategic Advisors LLC raised its holdings in Caterpillar by 5.0% during the 1st quarter. Strategic Advisors LLC now owns 6,011 shares of the industrial products company's stock valued at $1,983,000 after buying an additional 287 shares during the period. Chicago Capital LLC raised its stake in shares of Caterpillar by 5.3% in the first quarter. Chicago Capital LLC now owns 15,934 shares of the industrial products company's stock valued at $5,255,000 after acquiring an additional 795 shares during the period. Finally, Kercheville Advisors LLC lifted its holdings in shares of Caterpillar by 4.5% in the 1st quarter. Kercheville Advisors LLC now owns 2,612 shares of the industrial products company's stock worth $861,000 after acquiring an additional 112 shares during the last quarter. Institutional investors own 70.98% of the company's stock.

Caterpillar Stock Down 1.3%

Shares of NYSE CAT traded down $4.59 during mid-day trading on Tuesday, reaching $357.85. 1,559,267 shares of the company were exchanged, compared to its average volume of 2,556,423. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $418.50. The firm has a 50-day moving average of $328.90 and a 200 day moving average of $347.55. The stock has a market cap of $168.56 billion, a price-to-earnings ratio of 16.21, a P/E/G ratio of 1.87 and a beta of 1.37. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40.

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). Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. The firm had revenue of $14.25 billion for the quarter, compared to analysts' expectations of $14.64 billion. During the same period in the previous year, the company posted $5.60 earnings per share. The business's quarterly revenue was down 9.8% compared to the same quarter last year. On average, research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be issued a $1.51 dividend. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Monday, July 21st. Caterpillar's payout ratio is currently 29.43%.

Analyst Upgrades and Downgrades

CAT has been the topic of several analyst reports. Evercore ISI cut their price target on shares of Caterpillar from $375.00 to $373.00 and set an "in-line" rating on the stock in a report on Monday, May 19th. Bank of America boosted their target price on shares of Caterpillar from $335.00 to $385.00 and gave the company a "buy" rating in a research note on Friday, May 30th. UBS Group upgraded shares of Caterpillar from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $272.00 to $357.00 in a report on Friday, May 16th. 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 note on Thursday, May 1st. Finally, Morgan Stanley raised shares of Caterpillar from an "underweight" rating to an "equal weight" rating and decreased their price target for the company from $300.00 to $283.00 in a research note on Wednesday, April 16th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $372.92.

Insider Transactions at Caterpillar

In other Caterpillar news, Director David Maclennan bought 375 shares of the company's stock in a transaction that occurred on 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 purchase, the director now directly owns 6,653 shares in the company, valued at $2,133,617.10. This represents a 5.97% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.33% of the company's stock.

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.