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Milestone Asset Management LLC Lowers Stock Holdings in Caterpillar Inc. (NYSE:CAT)

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Milestone Asset Management LLC lowered its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 72.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,369 shares of the industrial products company's stock after selling 3,591 shares during the quarter. Milestone Asset Management LLC's holdings in Caterpillar were worth $452,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CAT. Pacific Point Advisors LLC purchased a new position in shares of Caterpillar during the fourth quarter worth approximately $579,000. Brighton Jones LLC grew its holdings in shares of Caterpillar by 51.5% during the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company's stock valued at $2,688,000 after purchasing an additional 2,519 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new position in Caterpillar in the 4th quarter worth $7,396,000. Chicago Partners Investment Group LLC raised its position in Caterpillar by 13.1% in the 4th quarter. Chicago Partners Investment Group LLC now owns 2,389 shares of the industrial products company's stock worth $863,000 after purchasing an additional 276 shares during the period. Finally, DAVENPORT & Co LLC lifted its stake in Caterpillar by 5.7% in the fourth quarter. DAVENPORT & Co LLC now owns 45,055 shares of the industrial products company's stock worth $16,344,000 after purchasing an additional 2,430 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

Insider Transactions at Caterpillar

In other Caterpillar news, Director David Maclennan bought 375 shares of the company's stock in a transaction dated Wednesday, May 7th. The shares were purchased at an average price of $320.70 per share, for a total transaction of $120,262.50. Following the acquisition, the director now owns 6,653 shares in the company, valued at approximately $2,133,617.10. This represents a 5.97% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on CAT shares. Robert W. Baird upgraded Caterpillar from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $309.00 to $395.00 in a report on Tuesday, May 13th. Citigroup raised their price target on Caterpillar from $320.00 to $370.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Morgan Stanley raised Caterpillar from an "underweight" rating to an "equal weight" rating and decreased their price target for the stock from $300.00 to $283.00 in a research note on Wednesday, April 16th. Oppenheimer raised Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 price objective for the company in a research note on Thursday, May 1st. Finally, Truist Financial restated a "buy" rating and issued a $396.00 target price (up previously from $389.00) on shares of Caterpillar in a report on Thursday, May 1st. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $372.92.

Read Our Latest Report on Caterpillar

Caterpillar Trading Up 1.3%

CAT stock traded up $4.53 on Friday, reaching $353.49. The company's stock had a trading volume of 1,605,025 shares, compared to its average volume of 2,597,325. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42. The business has a fifty day simple moving average of $320.74 and a two-hundred day simple moving average of $349.91. The firm has a market cap of $166.51 billion, a PE ratio of 16.02, a PEG ratio of 1.87 and a beta of 1.37. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $418.50.

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

Caterpillar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Monday, April 21st were issued a dividend of $1.41 per share. The ex-dividend date of this dividend was Monday, April 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.60%. Caterpillar's dividend payout ratio (DPR) is 27.49%.

Caterpillar Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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