Kovack Advisors Inc. Cuts Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Kovack Advisors Inc. reduced its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 14.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,515 shares of the industrial products company's stock after selling 779 shares during the quarter. Kovack Advisors Inc.'s holdings in Caterpillar were worth $1,489,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV acquired a new stake in shares of Caterpillar in the fourth quarter valued at $33,000. Curat Global LLC purchased a new stake in shares of Caterpillar during the 1st quarter worth about $33,000. Redmont Wealth Advisors LLC bought a new stake in shares of Caterpillar in the 1st quarter valued at approximately $33,000. Quarry LP bought a new stake in shares of Caterpillar in the 4th quarter valued at approximately $35,000. Finally, Mpwm Advisory Solutions LLC acquired a new position in shares of Caterpillar during the 4th quarter valued at about $36,000. 70.98% of the stock is currently owned by institutional investors.

Insider Activity at Caterpillar

In related news, Director David Maclennan bought 375 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The stock was bought at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the transaction, the director owned 6,653 shares of the company's stock, valued at approximately $2,133,617.10. The trade was a 5.97% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CAT shares. Barclays increased their target price on Caterpillar from $335.00 to $383.00 and gave the company an "equal weight" rating in a research note on Monday. Oppenheimer raised their price target on Caterpillar from $395.00 to $483.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Baird R W raised Caterpillar from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Bank of America boosted their target price on Caterpillar from $335.00 to $385.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Finally, Citigroup restated a "buy" rating and issued a $420.00 price target (up from $370.00) on shares of Caterpillar in a report on Tuesday, June 24th. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $419.33.

Caterpillar Stock Up 1.1%

Shares of CAT traded up $4.55 during trading hours on Friday, hitting $434.07. The stock had a trading volume of 2,207,764 shares, compared to its average volume of 2,516,496. The firm has a market capitalization of $204.47 billion, a P/E ratio of 21.15, a price-to-earnings-growth ratio of 2.69 and a beta of 1.38. 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 Inc. has a 1-year low of $267.30 and a 1-year high of $434.87. The firm has a 50 day simple moving average of $377.02 and a 200-day simple moving average of $351.88.

Caterpillar (NYSE:CAT - Get Free Report) last posted its 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 return on equity of 53.77% and a net margin of 15.71%. The firm had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.64 billion. During the same period in the prior year, the business earned $5.60 EPS. Caterpillar's quarterly revenue was down 9.8% compared to the same quarter last year. Sell-side analysts predict that Caterpillar Inc. will post 19.86 EPS 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 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Monday, July 21st. Caterpillar's payout ratio is 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.