Daymark Wealth Partners LLC Sells 119,968 Shares of Caterpillar Inc. (NYSE:CAT)

Daymark Wealth Partners LLC lessened its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 93.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,450 shares of the industrial products company's stock after selling 119,968 shares during the quarter. Daymark Wealth Partners LLC's holdings in Caterpillar were worth $2,787,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in CAT. Pacific Point Advisors LLC purchased a new stake in Caterpillar in the 4th quarter worth approximately $579,000. Brighton Jones LLC boosted its holdings in Caterpillar by 51.5% in the fourth quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company's stock valued at $2,688,000 after acquiring an additional 2,519 shares in the last quarter. Pine Valley Investments Ltd Liability Co increased its position in Caterpillar by 35.3% during the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 7,511 shares of the industrial products company's stock valued at $2,725,000 after purchasing an additional 1,961 shares during the period. Illinois Municipal Retirement Fund raised its holdings in Caterpillar by 1.2% in the 4th quarter. Illinois Municipal Retirement Fund now owns 30,332 shares of the industrial products company's stock worth $11,003,000 after purchasing an additional 347 shares in the last quarter. Finally, Daner Wealth Management LLC purchased a new stake in shares of Caterpillar in the 4th quarter worth about $264,000. Institutional investors own 70.98% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CAT shares. Robert W. Baird lifted their price objective on Caterpillar from $395.00 to $422.00 and gave the company an "outperform" rating in a research report on Friday, June 20th. JPMorgan Chase & Co. decreased their price objective on Caterpillar from $490.00 to $380.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Evercore ISI dropped their target price on shares of Caterpillar from $375.00 to $373.00 and set an "in-line" rating on the stock in a report on Monday, May 19th. Bank of America increased 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. Finally, UBS Group raised shares of Caterpillar from a "sell" rating to a "neutral" rating and boosted their price objective for the stock from $272.00 to $357.00 in a research note on Friday, May 16th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $380.83.

Caterpillar Stock Up 2.7%

Shares of CAT stock traded up $10.12 during mid-day trading on Thursday, hitting $381.70. The company's stock had a trading volume of 2,571,921 shares, compared to its average volume of 2,535,275. The stock has a market cap of $179.80 billion, a price-to-earnings ratio of 18.60, a PEG ratio of 2.48 and a beta of 1.37. 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 52-week low of $267.30 and a 52-week high of $418.50. The business has a 50-day moving average price of $338.55 and a 200 day moving average price of $346.61.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) 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 for the quarter, compared to analysts' expectations of $14.64 billion. During the same period in the previous year, the business earned $5.60 EPS. The business's revenue was down 9.8% compared to the same quarter last year. Research analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be paid a $1.51 dividend. This is an increase from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend is Monday, July 21st. Caterpillar's dividend payout ratio (DPR) is 27.49%.

Insider Buying and Selling

In other news, Director David Maclennan acquired 375 shares of the firm's stock in a transaction dated Wednesday, May 7th. The shares were purchased at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the transaction, the director now directly 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.33% of the stock is currently owned by insiders.

Caterpillar Company 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.