Foundry Partners LLC Reduces Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Foundry Partners LLC reduced its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 16.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 71,897 shares of the industrial products company's stock after selling 13,953 shares during the period. Caterpillar makes up approximately 1.3% of Foundry Partners LLC's portfolio, making the stock its 14th biggest position. Foundry Partners LLC's holdings in Caterpillar were worth $23,712,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of CAT. Cyrus J. Lawrence LLC acquired a new position in Caterpillar in the 4th quarter valued at about $27,000. Investment Management Corp VA ADV acquired a new position in shares of Caterpillar during the fourth quarter worth about $33,000. Quarry LP acquired a new position in shares of Caterpillar during the fourth quarter worth about $35,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Caterpillar during the fourth quarter worth about $36,000. Finally, Mattson Financial Services LLC acquired a new position in shares of Caterpillar during the fourth quarter worth about $39,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Caterpillar

In other Caterpillar news, Director David Maclennan acquired 375 shares of the business's stock in a transaction on Wednesday, May 7th. The stock was purchased at an average price of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the transaction, the director owned 6,653 shares of the company's stock, valued at $2,133,617.10. The trade was a 5.97% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CAT. JPMorgan Chase & Co. upped their price target on Caterpillar from $395.00 to $475.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Melius Research raised Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price target for the company in a report on Wednesday, July 9th. Citigroup reaffirmed a "buy" rating and issued a $420.00 price target (up from $370.00) on shares of Caterpillar in a report on Tuesday, June 24th. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Caterpillar in a report on Monday, July 14th. Finally, Truist Financial upped their price target on Caterpillar from $396.00 to $414.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Caterpillar presently has a consensus rating of "Moderate Buy" and an average price target of $419.33.

Caterpillar Stock Performance

Shares of NYSE CAT traded up $7.16 during mid-day trading on Tuesday, hitting $417.23. 2,183,930 shares of the company were exchanged, compared to its average volume of 2,503,708. The company has a quick ratio of 0.77, a current ratio of 1.32 and a debt-to-equity ratio of 1.43. The stock has a 50 day simple moving average of $369.61 and a 200-day simple moving average of $349.62. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $419.90. The firm has a market cap of $196.53 billion, a price-to-earnings ratio of 20.33, a price-to-earnings-growth ratio of 2.72 and a beta of 1.38.

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

Caterpillar Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be given a $1.51 dividend. This is a boost from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date of this dividend is Monday, July 21st. This represents a $6.04 annualized dividend and a yield of 1.45%. Caterpillar's dividend payout ratio is presently 29.43%.

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.