Caterpillar Inc. (NYSE:CAT) Shares Sold by one8zero8 LLC

Key Points

• one8zero8 LLC has reduced its holdings in Caterpillar Inc. by 54.8%, now owning 827 shares valued at $273,000, according to their recent SEC filing.
• Caterpillar recently declared a quarterly dividend of $1.51 per share, which reflects an increase from the previous dividend of $1.41, with a current dividend yield of 1.39%.
• The stock opened at $434.07 on Monday and has a total market cap of $204.47 billion, with a consensus rating of "Moderate Buy" from analysts.

one8zero8 LLC reduced its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 54.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 827 shares of the industrial products company's stock after selling 1,001 shares during the quarter. one8zero8 LLC's holdings in Caterpillar were worth $273,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Investment Management Corp VA ADV bought a new stake in shares of Caterpillar during the fourth quarter worth $33,000. Curat Global LLC bought a new stake in shares of Caterpillar during the first quarter worth $33,000. Redmont Wealth Advisors LLC bought a new stake in shares of Caterpillar during the first quarter worth $33,000. Quarry LP bought a new stake in shares of Caterpillar during the fourth quarter worth $35,000. Finally, Mpwm Advisory Solutions LLC purchased a new position in shares of Caterpillar during the fourth quarter valued at $36,000. 70.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Citigroup restated a "buy" rating and set a $420.00 price target (up previously from $370.00) on shares of Caterpillar in a research note on Tuesday, June 24th. Melius Research upgraded Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price target on the stock in a research note on Wednesday, July 9th. Barclays raised their price target on Caterpillar from $335.00 to $383.00 and gave the company an "equal weight" rating in a research note on Monday, July 21st. Sanford C. Bernstein restated a "market perform" rating on shares of Caterpillar in a research note on Monday, July 14th. Finally, Melius upgraded Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 target price on the stock in a research note on Wednesday, July 9th. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $419.33.

Insider Transactions at Caterpillar

In related news, Director David Maclennan purchased 375 shares of the company's stock in a transaction on Wednesday, May 7th. The stock was bought at an average price 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.33% of the company's stock.

Caterpillar Stock Up 1.4%

Shares of CAT traded up $6.16 during mid-day trading on Thursday, reaching $440.28. The company's stock had a trading volume of 1,340,899 shares, compared to its average volume of 2,676,948. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $441.15. The stock has a market cap of $207.39 billion, a PE ratio of 21.47, 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. The company's 50 day moving average is $382.09 and its 200 day moving average is $353.44.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $14.64 billion. During the same quarter in the prior year, the business earned $5.60 EPS. The company's quarterly revenue was down 9.8% compared to the same quarter last year. Equities analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be issued a dividend of $1.51 per share. The ex-dividend date of this dividend is Monday, July 21st. This is a boost from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a yield of 1.37%. Caterpillar's payout ratio is currently 29.43%.

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.