Caterpillar Inc. (NYSE:CAT) Stake Cut by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC lessened its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 15.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,799 shares of the industrial products company's stock after selling 3,948 shares during the period. Concurrent Investment Advisors LLC's holdings in Caterpillar were worth $7,189,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. BBR Partners LLC raised its position in shares of Caterpillar by 0.7% during the 4th quarter. BBR Partners LLC now owns 4,162 shares of the industrial products company's stock valued at $1,510,000 after acquiring an additional 30 shares in the last quarter. McIlrath & Eck LLC raised its position in shares of Caterpillar by 3.2% during the 4th quarter. McIlrath & Eck LLC now owns 962 shares of the industrial products company's stock valued at $349,000 after acquiring an additional 30 shares in the last quarter. Rakuten Securities Inc. raised its position in shares of Caterpillar by 20.3% during the 4th quarter. Rakuten Securities Inc. now owns 184 shares of the industrial products company's stock valued at $67,000 after acquiring an additional 31 shares in the last quarter. Asset Management Group Inc. raised its position in shares of Caterpillar by 0.3% during the 4th quarter. Asset Management Group Inc. now owns 10,771 shares of the industrial products company's stock valued at $3,907,000 after acquiring an additional 32 shares in the last quarter. Finally, Dunhill Financial LLC increased its position in Caterpillar by 21.3% in the fourth quarter. Dunhill Financial LLC now owns 205 shares of the industrial products company's stock worth $75,000 after buying an additional 36 shares during the period. Hedge funds and other institutional investors own 70.98% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CAT shares. DA Davidson increased their target price on Caterpillar from $325.00 to $331.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. Oppenheimer raised Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 price target for the company in a research note on Thursday, May 1st. Baird R W raised Caterpillar from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Robert W. Baird increased their price target on Caterpillar from $395.00 to $422.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. Finally, JPMorgan Chase & Co. decreased their price target on Caterpillar from $490.00 to $380.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Caterpillar has an average rating of "Moderate Buy" and a consensus price target of $380.83.

Caterpillar Trading Up 0.7%

Shares of NYSE:CAT traded up $2.71 during midday trading on Tuesday, reaching $394.22. The company had a trading volume of 1,995,880 shares, compared to its average volume of 2,698,743. 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 1-year low of $267.30 and a 1-year high of $418.50. The firm has a market cap of $185.69 billion, a price-to-earnings ratio of 19.21, a price-to-earnings-growth ratio of 2.64 and a beta of 1.38. The company has a fifty day simple moving average of $353.66 and a two-hundred day simple moving average of $346.92.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share for the quarter, missing analysts' consensus estimates of $4.35 by ($0.10). Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The company had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.64 billion. During the same quarter last year, the business earned $5.60 EPS. The company's revenue for the quarter was down 9.8% compared to the same quarter last year. Research analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be given a $1.51 dividend. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date is Monday, July 21st. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.53%. Caterpillar's dividend payout ratio (DPR) is 29.43%.

Insider Buying and Selling 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 purchased at an average cost of $320.70 per share, with a total value of $120,262.50. Following the purchase, the director owned 6,653 shares in the company, valued at approximately $2,133,617.10. The trade was a 5.97% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.33% of the stock is owned by company insiders.

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.