Caterpillar Inc. (NYSE:CAT) Shares Sold by CCM Investment Advisers LLC

CCM Investment Advisers LLC trimmed its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 2.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 55,429 shares of the industrial products company's stock after selling 1,347 shares during the quarter. Caterpillar comprises 2.2% of CCM Investment Advisers LLC's portfolio, making the stock its 13th largest position. CCM Investment Advisers LLC's holdings in Caterpillar were worth $18,281,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Flagship Wealth Advisors LLC purchased a new position in shares of Caterpillar in the 4th quarter worth about $26,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Caterpillar during the 4th quarter worth approximately $27,000. Cyrus J. Lawrence LLC purchased a new position in Caterpillar in the fourth quarter valued at approximately $27,000. Noble Wealth Management PBC acquired a new position in Caterpillar during the fourth quarter valued at approximately $31,000. Finally, Investment Management Corp VA ADV purchased a new stake in Caterpillar during the fourth quarter worth approximately $33,000. Institutional investors and hedge funds own 70.98% of the company's stock.

Caterpillar Stock Down 1.2%

CAT traded down $4.17 on Friday, reaching $356.79. The company's stock had a trading volume of 1,609,485 shares, compared to its average volume of 2,564,350. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $418.50. The business's 50 day moving average is $327.10 and its 200 day moving average is $348.25. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. The stock has a market cap of $168.06 billion, a price-to-earnings ratio of 16.17, a price-to-earnings-growth ratio of 1.87 and a beta of 1.37.

Caterpillar (NYSE:CAT - Get Free Report) last released 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). The business 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 business's quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter last year, the company posted $5.60 earnings per share. As a group, research analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be issued a dividend of $1.51 per share. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Monday, July 21st. Caterpillar's dividend payout ratio (DPR) is currently 27.49%.

Insider Transactions at Caterpillar

In related news, Director David Maclennan purchased 375 shares of Caterpillar stock in a transaction dated Wednesday, May 7th. The shares were acquired 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 now owns 6,653 shares of the company's stock, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

CAT has been the topic of a number of research reports. Morgan Stanley raised shares of Caterpillar from an "underweight" rating to an "equal weight" rating and cut their target price for the company from $300.00 to $283.00 in a research note on Wednesday, April 16th. Truist Financial reissued a "buy" rating and issued a $396.00 price objective (up from $389.00) on shares of Caterpillar in a research report on Thursday, May 1st. Bank of America upped their target price on Caterpillar from $335.00 to $385.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Evercore ISI lowered their target price on Caterpillar from $375.00 to $373.00 and set an "in-line" rating for the company in a research note on Monday, May 19th. Finally, Baird R W raised Caterpillar from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Caterpillar presently has a consensus rating of "Moderate Buy" and an average target price of $372.92.

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.