DT Investment Partners LLC Has $3.45 Million Stake in Caterpillar Inc. (NYSE:CAT)

DT Investment Partners LLC lessened its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 16.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,448 shares of the industrial products company's stock after selling 2,026 shares during the quarter. DT Investment Partners LLC's holdings in Caterpillar were worth $3,446,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CAT. Flagship Wealth Advisors LLC bought a new stake in shares of Caterpillar during the fourth quarter worth approximately $26,000. Cyrus J. Lawrence LLC bought a new stake in shares of Caterpillar during the fourth quarter worth approximately $27,000. Investment Management Corp VA ADV bought a new stake in shares of Caterpillar during the fourth quarter worth approximately $33,000. Curat Global LLC bought a new stake in shares of Caterpillar during the first quarter worth approximately $33,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of Caterpillar in the first quarter valued at approximately $33,000. Institutional investors and hedge funds own 70.98% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CAT. Bank of America boosted their price target on Caterpillar from $335.00 to $385.00 and gave the company a "buy" rating in a research note on Friday, May 30th. UBS Group upgraded Caterpillar from a "sell" rating to a "neutral" rating and boosted their price target for the company from $272.00 to $357.00 in a research note on Friday, May 16th. 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 research note on Monday, May 19th. DA Davidson boosted their price target on Caterpillar from $325.00 to $331.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Finally, Baird R W upgraded Caterpillar from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Caterpillar has a consensus rating of "Moderate Buy" and an average target price of $380.83.

Caterpillar Price Performance

CAT traded up $0.90 during trading on Friday, hitting $399.33. 1,737,838 shares of the stock traded hands, compared to its average volume of 2,524,822. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $418.50. The company has a market cap of $188.10 billion, a price-to-earnings ratio of 19.46, a PEG ratio of 2.64 and a beta of 1.38. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.32 and a quick ratio of 0.77. The business has a 50 day moving average price of $351.96 and a 200 day moving average price of $346.74.

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 the consensus estimate of $4.35 by ($0.10). The company had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.64 billion. Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. The firm's quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter last year, the company posted $5.60 earnings per share. Equities research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

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

Insider Activity

In related news, Director David Maclennan purchased 375 shares of the stock in a transaction dated Wednesday, May 7th. The stock was bought at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the acquisition, the director owned 6,653 shares of the company's stock, valued at approximately $2,133,617.10. This represents a 5.97% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.33% of the company's stock.

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.