Caterpillar Inc. (NYSE:CAT) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lessened its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 4.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 463,208 shares of the industrial products company's stock after selling 22,025 shares during the period. Envestnet Asset Management Inc. owned about 0.10% of Caterpillar worth $152,766,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC acquired a new position in shares of Caterpillar in the 4th quarter valued at $26,000. Cyrus J. Lawrence LLC acquired a new position in shares of Caterpillar in the 4th quarter valued at $27,000. Investment Management Corp VA ADV acquired a new position in shares of Caterpillar in the 4th quarter valued at $33,000. Curat Global LLC acquired a new position in shares of Caterpillar in the 1st quarter valued at $33,000. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of Caterpillar in the 1st quarter valued at $33,000. Institutional investors and hedge funds own 70.98% of the company's stock.

Caterpillar Price Performance

Shares of CAT traded down $2.60 during trading hours on Friday, reaching $405.73. The company had a trading volume of 2,072,409 shares, compared to its average volume of 2,530,412. The firm has a 50 day simple moving average of $360.79 and a 200-day simple moving average of $348.06. The company has a current ratio of 1.32, a quick ratio of 0.77 and a debt-to-equity ratio of 1.43. The company has a market capitalization of $191.12 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 2.70 and a beta of 1.38. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $418.50.

Caterpillar (NYSE:CAT - Get Free Report) last posted its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share for the quarter, missing the consensus estimate of $4.35 by ($0.10). Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The business had revenue of $14.25 billion for the quarter, compared to analysts' expectations of $14.64 billion. During the same quarter last year, the business posted $5.60 earnings per share. The business's revenue was down 9.8% compared to the same quarter last year. Research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current 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 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 dividend on an annualized basis and a dividend yield of 1.49%. Caterpillar's payout ratio is 27.49%.

Insider Activity at Caterpillar

In other news, Director David Maclennan purchased 375 shares of the stock in a transaction dated Wednesday, May 7th. The stock was acquired 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 directly owned 6,653 shares in the company, valued at $2,133,617.10. This represents a 5.97% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CAT. Morgan Stanley upgraded shares of Caterpillar from an "underweight" rating to an "equal weight" rating and lowered their target price for the company from $300.00 to $283.00 in a report on Wednesday, April 16th. Baird R W upgraded shares of Caterpillar from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. 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. Truist Financial increased their price target on shares of Caterpillar from $396.00 to $414.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Finally, Melius upgraded shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price target for the company in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $404.64.

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.