Caterpillar Inc. (NYSE:CAT) Shares Sold by Jefferies Financial Group Inc.

Key Points

• Jefferies Financial Group Inc. drastically reduced its stake in Caterpillar Inc. by 77.7% in Q1, leaving it with just 5,499 shares valued at $1.8 million.
• GAMMA Investing LLC saw a remarkable increase in its holdings, boosting its Caterpillar shares by 43,447.3% to nearly 3.7 million, valued at $1.23 billion.
• Analysts have diverse views on Caterpillar's stock, with targets ranging from $373.00 to $500.00 and a consensus rating of "Moderate Buy."

Jefferies Financial Group Inc. reduced its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 77.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,499 shares of the industrial products company's stock after selling 19,129 shares during the period. Jefferies Financial Group Inc.'s holdings in Caterpillar were worth $1,814,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CAT. GAMMA Investing LLC boosted its holdings in shares of Caterpillar by 43,447.3% in the 1st quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company's stock valued at $1,230,239,000 after buying an additional 3,721,693 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Caterpillar by 2,723.1% in the 1st quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company's stock valued at $466,430,000 after buying an additional 1,364,183 shares during the period. Capital Research Global Investors boosted its holdings in shares of Caterpillar by 69.3% in the 4th 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 buying an additional 1,196,861 shares during the period. Northern Trust Corp boosted its holdings in shares of Caterpillar by 11.8% in the 4th quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company's stock valued at $2,483,937,000 after buying an additional 724,477 shares during the period. Finally, APG Asset Management N.V. boosted its holdings in shares of Caterpillar by 1,278.6% in the 4th quarter. APG Asset Management N.V. now owns 440,641 shares of the industrial products company's stock valued at $154,367,000 after buying an additional 408,678 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on CAT shares. Melius Research upgraded shares of Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price objective on the stock in a research report on Wednesday, July 9th. JPMorgan Chase & Co. boosted their price target on shares of Caterpillar from $395.00 to $475.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. DA Davidson boosted their price target on shares of Caterpillar from $331.00 to $388.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Truist Financial boosted their price target on shares of Caterpillar from $396.00 to $414.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. Finally, Evercore ISI dropped their price target 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. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $419.33.

Insider Buying and Selling

In other news, Director David Maclennan acquired 375 shares of Caterpillar stock in a transaction dated Wednesday, May 7th. The stock was acquired at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the purchase, the director owned 6,653 shares of the company's stock, valued at $2,133,617.10. This represents a 5.97% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.33% of the stock is owned by corporate insiders.

Caterpillar Stock Performance

CAT stock opened at $428.85 on Monday. 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 company has a market capitalization of $202.01 billion, a price-to-earnings ratio of 20.90, a P/E/G ratio of 2.68 and a beta of 1.40. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $441.15. The firm has a 50 day moving average of $385.66 and a two-hundred day moving average of $354.03.

Caterpillar Increases Dividend

The firm 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. 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 1.4%. The ex-dividend date of this dividend is Monday, July 21st. Caterpillar's payout ratio is presently 29.43%.

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.

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