Sigma Investment Counselors Inc. Sells 1,496 Shares of Caterpillar Inc. (NYSE:CAT)

Sigma Investment Counselors Inc. reduced its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 5.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,056 shares of the industrial products company's stock after selling 1,496 shares during the quarter. Sigma Investment Counselors Inc.'s holdings in Caterpillar were worth $7,934,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Flagship Wealth Advisors LLC acquired a new position in shares of Caterpillar in the 4th quarter valued at $26,000. Cyrus J. Lawrence LLC purchased a new stake in shares of Caterpillar in the 4th quarter valued at $27,000. Investment Management Corp VA ADV purchased a new stake in Caterpillar during the 4th quarter worth about $33,000. Quarry LP purchased a new stake in Caterpillar during the 4th quarter worth about $35,000. Finally, Mpwm Advisory Solutions LLC purchased a new stake in Caterpillar during the 4th quarter worth about $36,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director David Maclennan bought 375 shares of the business's stock in a transaction 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 acquisition, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.33% of the company's stock.

Caterpillar Stock Performance

Shares of NYSE CAT traded up $8.42 during trading hours on Wednesday, reaching $402.71. 3,099,408 shares of the stock were exchanged, compared to its average volume of 2,531,953. The firm has a market capitalization of $189.69 billion, a price-to-earnings ratio of 19.63, a P/E/G ratio of 2.62 and a beta of 1.38. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.77 and a current ratio of 1.32. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $418.50. The stock's fifty day simple moving average is $355.40 and its 200 day simple moving average is $347.25.

Caterpillar (NYSE:CAT - Get Free Report) last issued 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). 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 53.77% and a net margin of 15.71%. The company's quarterly revenue was down 9.8% compared to the same quarter last year. During the same period in the prior year, the company earned $5.60 EPS. Sell-side analysts predict that Caterpillar Inc. will post 19.86 EPS for the current 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. This is an increase from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date of this dividend is Monday, July 21st. This represents a $6.04 annualized dividend and a dividend yield of 1.50%. Caterpillar's dividend payout ratio (DPR) is 27.49%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CAT shares. JPMorgan Chase & Co. decreased their price objective on Caterpillar from $490.00 to $380.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Bank of America lifted their target price on shares of Caterpillar from $335.00 to $385.00 and gave the company a "buy" rating in a report on Friday, May 30th. Citigroup reissued a "buy" rating and issued a $420.00 target price (up previously from $370.00) on shares of Caterpillar in a report on Tuesday, June 24th. DA Davidson raised their target price on Caterpillar from $325.00 to $331.00 and gave the company a "neutral" rating in a report on Monday, May 5th. Finally, Robert W. Baird raised their target price on Caterpillar from $395.00 to $422.00 and gave the company an "outperform" rating in a report on Friday, June 20th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $397.86.

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.