Vest Financial LLC Lowers Holdings in Caterpillar Inc. (NYSE:CAT)

Vest Financial LLC trimmed its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 6.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 141,770 shares of the industrial products company's stock after selling 9,064 shares during the quarter. Vest Financial LLC's holdings in Caterpillar were worth $46,756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pacific Point Advisors LLC acquired a new stake in Caterpillar in the 4th quarter valued at approximately $579,000. Brighton Jones LLC increased its position in Caterpillar by 51.5% during the fourth quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company's stock worth $2,688,000 after acquiring an additional 2,519 shares during the period. Union Bancaire Privee UBP SA bought a new stake in Caterpillar in the 4th quarter valued at $7,396,000. Stratos Wealth Partners LTD. grew its position in Caterpillar by 3.2% in the 4th quarter. Stratos Wealth Partners LTD. now owns 21,263 shares of the industrial products company's stock worth $7,714,000 after purchasing an additional 669 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Caterpillar by 15.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,629 shares of the industrial products company's stock worth $25,005,000 after purchasing an additional 8,931 shares during the period. Hedge funds and other institutional investors own 70.98% of the company's stock.

Caterpillar Trading Up 1.3%

NYSE:CAT traded up $4.77 on Monday, reaching $358.12. 2,140,267 shares of the stock traded hands, compared to its average volume of 2,595,918. The firm has a market capitalization of $168.69 billion, a price-to-earnings ratio of 16.23, a price-to-earnings-growth ratio of 1.87 and a beta of 1.37. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $418.50. The company's 50 day moving average is $320.74 and its 200-day moving average is $349.40.

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

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Monday, April 21st were paid a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date was Monday, April 21st. Caterpillar's dividend payout ratio (DPR) is presently 27.49%.

Insider Transactions at Caterpillar

In other Caterpillar news, Director David Maclennan acquired 375 shares of Caterpillar 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 acquisition, the director now owns 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 SEC, which is accessible through this hyperlink. 0.33% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on CAT shares. Oppenheimer raised Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 price target for the company in a report on Thursday, May 1st. Bank of America lifted their price target on shares of Caterpillar from $335.00 to $385.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Robert W. Baird raised shares of Caterpillar from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $309.00 to $395.00 in a report on Tuesday, May 13th. UBS Group raised shares of Caterpillar from a "sell" rating to a "neutral" rating and upped their target price for the company from $272.00 to $357.00 in a research note on Friday, May 16th. Finally, Evercore ISI cut their price target on shares of Caterpillar from $375.00 to $373.00 and set an "in-line" rating for the company in a research note on Monday, May 19th. Six equities research 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 stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $372.92.

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.