Chicago Capital LLC Has $5.26 Million Stake in Caterpillar Inc. (NYSE:CAT)

Chicago Capital LLC boosted its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 5.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,934 shares of the industrial products company's stock after acquiring an additional 795 shares during the period. Chicago Capital LLC's holdings in Caterpillar were worth $5,255,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Kercheville Advisors LLC boosted its stake in Caterpillar by 4.5% during the first quarter. Kercheville Advisors LLC now owns 2,612 shares of the industrial products company's stock worth $861,000 after buying an additional 112 shares in the last quarter. Vivid Wealth Management LLC increased its stake in Caterpillar by 6.3% in the first quarter. Vivid Wealth Management LLC now owns 7,027 shares of the industrial products company's stock valued at $2,317,000 after acquiring an additional 419 shares during the period. Vicus Capital bought a new position in Caterpillar during the first quarter worth about $512,000. Inscription Capital LLC bought a new stake in shares of Caterpillar in the 1st quarter valued at approximately $1,368,000. Finally, Stephens Consulting LLC raised its holdings in shares of Caterpillar by 38.9% in the 1st quarter. Stephens Consulting LLC now owns 625 shares of the industrial products company's stock worth $206,000 after buying an additional 175 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Analyst Upgrades and Downgrades

CAT has been the subject of several recent analyst reports. Morgan Stanley upgraded Caterpillar from an "underweight" rating to an "equal weight" rating and dropped their price objective for the stock from $300.00 to $283.00 in a research note on Wednesday, April 16th. Truist Financial reissued a "buy" rating and set a $396.00 price target (up from $389.00) on shares of Caterpillar in a report on Thursday, May 1st. Bank of America upped their price objective 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. Evercore ISI cut their price target on Caterpillar from $375.00 to $373.00 and set an "in-line" rating for the company in a report on Monday, May 19th. Finally, JPMorgan Chase & Co. decreased their price objective on Caterpillar from $490.00 to $380.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $372.92.

Insider Buying and Selling at Caterpillar

In other news, Director David Maclennan bought 375 shares of the firm's stock in a transaction dated Wednesday, May 7th. The shares were 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 now owns 6,653 shares of the company's stock, valued at $2,133,617.10. This trade 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 the SEC website. Insiders own 0.33% of the company's stock.

Caterpillar Stock Down 1.3%

Shares of Caterpillar stock traded down $4.59 on Tuesday, hitting $357.85. The company had a trading volume of 1,559,267 shares, compared to its average volume of 2,556,423. 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 firm has a market capitalization of $168.56 billion, a P/E ratio of 16.21, a P/E/G ratio of 1.87 and a beta of 1.37. The stock has a 50-day moving average of $328.90 and a 200-day moving average of $347.55. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $418.50.

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

Caterpillar Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Monday, July 21st. This is an increase from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's payout ratio is 29.43%.

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.