Miller Financial Services LLC Sells 1,426 Shares of Caterpillar Inc. (NYSE:CAT)

Miller Financial Services LLC trimmed its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 54.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,216 shares of the industrial products company's stock after selling 1,426 shares during the period. Miller Financial Services LLC's holdings in Caterpillar were worth $401,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Caterpillar by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 46,809,540 shares of the industrial products company's stock valued at $16,980,629,000 after acquiring an additional 284,366 shares during the period. Geode Capital Management LLC lifted its holdings in Caterpillar by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 10,449,770 shares of the industrial products company's stock valued at $3,790,841,000 after acquiring an additional 236,315 shares during the period. Northern Trust Corp increased its position in shares of Caterpillar by 11.8% in the fourth 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 in the last quarter. Norges Bank purchased a new position in shares of Caterpillar in the fourth quarter valued at $2,184,364,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Caterpillar by 8.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,940,391 shares of the industrial products company's stock worth $1,429,416,000 after purchasing an additional 312,878 shares in the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Stock Performance

CAT stock traded up $1.01 during trading on Thursday, reaching $428.60. 973,985 shares of the company's stock were exchanged, compared to its average volume of 2,679,027. 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 market cap of $201.89 billion, a PE ratio of 20.89, a P/E/G ratio of 2.61 and a beta of 1.38. The company's fifty day moving average price is $373.81 and its 200-day moving average price is $350.94. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $429.57.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share for the quarter, missing the consensus estimate of $4.35 by ($0.10). The firm had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.64 billion. Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The company's quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter last year, the company earned $5.60 EPS. On average, research analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

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

Insiders Place Their Bets

In other Caterpillar news, Director David Maclennan purchased 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, with a total value 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. 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 link. Insiders own 0.33% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on CAT. Sanford C. Bernstein reiterated a "market perform" rating on shares of Caterpillar in a research report on Monday, July 14th. Truist Financial lifted their price objective on Caterpillar from $396.00 to $414.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. DA Davidson boosted their price target on Caterpillar from $331.00 to $388.00 and gave the stock a "neutral" rating in a research report on Tuesday. Robert W. Baird lifted their price objective on Caterpillar from $395.00 to $422.00 and gave the stock an "outperform" rating in a report on Friday, June 20th. Finally, Morgan Stanley upgraded Caterpillar from an "underweight" rating to an "equal weight" rating and lowered their price target for the company from $300.00 to $283.00 in a report on Wednesday, April 16th. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Caterpillar has an average rating of "Moderate Buy" and a consensus target price of $419.33.

About Caterpillar

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.