Financial Partners Group LLC Cuts Stock Position in Caterpillar Inc. (NYSE:CAT)

Financial Partners Group LLC trimmed its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 4.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,088 shares of the industrial products company's stock after selling 1,048 shares during the period. Caterpillar comprises about 3.3% of Financial Partners Group LLC's investment portfolio, making the stock its 11th biggest position. Financial Partners Group LLC's holdings in Caterpillar were worth $7,614,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Shepherd Financial Partners LLC lifted its holdings in Caterpillar by 9.8% in the 1st quarter. Shepherd Financial Partners LLC now owns 6,473 shares of the industrial products company's stock worth $2,135,000 after purchasing an additional 579 shares in the last quarter. Clarius Group LLC grew its holdings in Caterpillar by 14.8% during the 1st quarter. Clarius Group LLC now owns 5,485 shares of the industrial products company's stock valued at $1,809,000 after buying an additional 707 shares in the last quarter. GSB Wealth Management LLC lifted its holdings in shares of Caterpillar by 2.5% in the first quarter. GSB Wealth Management LLC now owns 2,117 shares of the industrial products company's stock worth $698,000 after buying an additional 51 shares in the last quarter. Colorado Capital Management Inc. bought a new position in shares of Caterpillar during the first quarter worth $218,000. Finally, Clayton Financial Group LLC bought a new position in shares of Caterpillar during the first quarter worth $203,000. Institutional investors own 70.98% of the company's stock.

Caterpillar Stock Down 1.3%

Shares of NYSE:CAT opened at $357.85 on Wednesday. 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 simple moving average of $330.03 and a two-hundred day simple moving average of $347.62. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $418.50. The firm has a market capitalization of $168.56 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 2.41 and a beta of 1.37.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $14.25 billion for the quarter, compared to analysts' expectations of $14.64 billion. During the same quarter in the previous year, the firm earned $5.60 EPS. Caterpillar's revenue was down 9.8% compared to the same quarter last year. On average, equities analysts predict that Caterpillar Inc. will post 19.86 EPS 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 paid a $1.51 dividend. This represents a $6.04 annualized dividend 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 dividend payout ratio (DPR) is currently 27.49%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Bank of America lifted their price target on shares of Caterpillar from $335.00 to $385.00 and gave the company a "buy" rating in a report on Friday, May 30th. Citigroup lifted their target price on Caterpillar from $320.00 to $370.00 and gave the stock a "buy" rating in a 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. DA Davidson raised their price target on Caterpillar from $325.00 to $331.00 and gave the company a "neutral" rating in a report on Monday, May 5th. Finally, UBS Group raised Caterpillar from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $272.00 to $357.00 in a report on Friday, May 16th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $372.92.

Insider Activity at Caterpillar

In related news, Director David Maclennan bought 375 shares of the company's stock in a transaction on Wednesday, May 7th. The shares were acquired at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the purchase, the director now directly owns 6,653 shares of the company's stock, valued at approximately $2,133,617.10. The trade was a 5.97% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.33% of the stock is currently 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.

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