Foundry Partners LLC Sells 13,953 Shares of Caterpillar Inc. (NYSE:CAT)

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

Several other institutional investors have also added to or reduced their stakes in the company. Proficio Capital Partners LLC raised its holdings in shares of Caterpillar by 38.3% during the 4th quarter. Proficio Capital Partners LLC now owns 2,218 shares of the industrial products company's stock worth $805,000 after buying an additional 614 shares in the last quarter. Victrix Investment Advisors acquired a new position in Caterpillar in the 4th quarter worth about $2,090,000. Pacific Point Advisors LLC acquired a new position in Caterpillar in the 4th quarter worth about $579,000. Wealth Enhancement Advisory Services LLC increased its holdings in Caterpillar by 18.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 191,640 shares of the industrial products company's stock worth $63,202,000 after purchasing an additional 30,070 shares in the last quarter. Finally, Liberty Square Wealth Partners LLC increased its holdings in Caterpillar by 5.8% in the 1st quarter. Liberty Square Wealth Partners LLC now owns 1,636 shares of the industrial products company's stock worth $540,000 after purchasing an additional 90 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CAT has been the topic of several recent research reports. Evercore ISI cut their price target on Caterpillar from $375.00 to $373.00 and set an "in-line" rating on the stock in a report on Monday, May 19th. Morgan Stanley raised Caterpillar from an "underweight" rating to an "equal weight" rating and decreased their target price for the stock from $300.00 to $283.00 in a research report on Wednesday, April 16th. Melius raised Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price target for the company in a report on Wednesday, July 9th. Baird R W raised Caterpillar from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Finally, Truist Financial lifted their price objective on Caterpillar from $396.00 to $414.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. Seven 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's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $412.33.

Caterpillar Price Performance

NYSE:CAT traded down $4.19 during trading hours on Friday, reaching $413.88. 2,525,098 shares of the company's stock were exchanged, compared to its average volume of 2,508,304. The company has a market capitalization of $194.95 billion, a P/E ratio of 20.17, a price-to-earnings-growth ratio of 2.74 and a beta of 1.38. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $419.90. 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 business's 50-day simple moving average is $369.61 and its two-hundred day simple moving average is $349.69.

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 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 business's revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.60 earnings per share. Sell-side analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal 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 given a dividend of $1.51 per share. This is an increase from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date is Monday, July 21st. This represents a $6.04 annualized dividend and a yield of 1.46%. Caterpillar's dividend payout ratio is 29.43%.

Insider Transactions at Caterpillar

In other Caterpillar news, Director David Maclennan bought 375 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were bought at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the transaction, the director owned 6,653 shares in the company, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.33% of the stock is currently owned by company insiders.

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.