MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Decreases Position in Caterpillar Inc. (NYSE:CAT)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH reduced its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 56.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 763 shares of the industrial products company's stock after selling 984 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Caterpillar were worth $252,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Prentice Wealth Management LLC increased its position in shares of Caterpillar by 7.1% in the first quarter. Prentice Wealth Management LLC now owns 1,291 shares of the industrial products company's stock valued at $426,000 after buying an additional 86 shares in the last quarter. Dynamic Advisor Solutions LLC grew its stake in Caterpillar by 1.5% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 23,875 shares of the industrial products company's stock valued at $7,874,000 after acquiring an additional 352 shares during the period. Grant Private Wealth Management Inc increased its holdings in Caterpillar by 46.2% in the 1st quarter. Grant Private Wealth Management Inc now owns 1,224 shares of the industrial products company's stock worth $404,000 after acquiring an additional 387 shares in the last quarter. Lakeridge Wealth Management LLC lifted its holdings in Caterpillar by 2.5% during the first quarter. Lakeridge Wealth Management LLC now owns 1,770 shares of the industrial products company's stock valued at $584,000 after purchasing an additional 44 shares in the last quarter. Finally, Dover Advisors LLC grew its position in shares of Caterpillar by 32.4% in the first quarter. Dover Advisors LLC now owns 943 shares of the industrial products company's stock valued at $311,000 after purchasing an additional 231 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Stock Performance

Shares of CAT stock traded up $5.16 during trading hours on Monday, hitting $362.21. The stock had a trading volume of 1,579,242 shares, compared to its average volume of 2,679,046. The stock's 50 day moving average is $327.10 and its 200 day moving average is $347.86. The firm has a market capitalization of $170.62 billion, a PE ratio of 16.41, a PEG ratio of 1.87 and a beta of 1.37. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $418.50. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share for the quarter, missing analysts' consensus estimates of $4.35 by ($0.10). The company had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.64 billion. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. The firm's revenue was down 9.8% compared to the same quarter last year. During the same period in the previous year, the business posted $5.60 earnings per share. As a group, research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be given a dividend of $1.51 per share. The ex-dividend date of this dividend is Monday, July 21st. This represents a $6.04 dividend on an annualized basis and a yield of 1.67%. This is an increase from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's dividend payout ratio is presently 29.43%.

Insider Transactions at Caterpillar

In other Caterpillar news, Director David Maclennan purchased 375 shares of the firm'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 completion of 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on CAT shares. Truist Financial reissued a "buy" rating and issued a $396.00 target price (up from $389.00) on shares of Caterpillar in a research note on Thursday, May 1st. Bank of America lifted their price objective on 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 increased their target price for the stock from $272.00 to $357.00 in a report on Friday, May 16th. Oppenheimer raised Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 price objective on the stock in a research report on Thursday, May 1st. Finally, Wall Street Zen cut Caterpillar from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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.