Greenleaf Trust Sells 1,330 Shares of Caterpillar Inc. (NYSE:CAT)

Greenleaf Trust reduced its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 7.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,411 shares of the industrial products company's stock after selling 1,330 shares during the period. Greenleaf Trust's holdings in Caterpillar were worth $5,412,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Caterpillar in the 4th quarter valued at about $2,184,364,000. GAMMA Investing LLC boosted its holdings in Caterpillar by 43,447.3% in the 1st quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company's stock valued at $1,230,239,000 after purchasing an additional 3,721,693 shares during the period. Capital Research Global Investors lifted its holdings in shares of Caterpillar by 69.3% during the 4th quarter. Capital Research Global Investors now owns 2,924,054 shares of the industrial products company's stock worth $1,060,730,000 after acquiring an additional 1,196,861 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Caterpillar by 11.8% during the 4th quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company's stock worth $2,483,937,000 after acquiring an additional 724,477 shares during the last quarter. Finally, APG Asset Management N.V. lifted its stake in Caterpillar by 1,278.6% in the fourth quarter. APG Asset Management N.V. now owns 440,641 shares of the industrial products company's stock worth $154,367,000 after purchasing an additional 408,678 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Stock Down 0.6%

Shares of NYSE:CAT traded down $2.60 during trading on Friday, hitting $405.73. 2,072,409 shares of the company were exchanged, compared to its average volume of 2,532,034. 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 stock has a market cap of $191.12 billion, a price-to-earnings ratio of 19.77, a P/E/G ratio of 2.67 and a beta of 1.38. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $418.50. The firm has a fifty day moving average price of $359.15 and a two-hundred day moving average price of $347.93.

Caterpillar (NYSE:CAT - Get Free Report) last posted its 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). Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The firm had revenue of $14.25 billion during the quarter, compared to the consensus estimate of $14.64 billion. During the same quarter in the prior year, the business posted $5.60 earnings per share. Caterpillar's revenue for the quarter was down 9.8% compared to the same quarter last year. As a group, research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be issued a dividend of $1.51 per share. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend is Monday, July 21st. Caterpillar's dividend payout ratio (DPR) is 29.43%.

Insider Transactions at Caterpillar

In other Caterpillar news, Director David Maclennan bought 375 shares of Caterpillar stock in a transaction that occurred on 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 transaction, the director directly owned 6,653 shares in the company, valued at $2,133,617.10. This represents a 5.97% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 0.33% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CAT has been the topic of several research analyst reports. Oppenheimer upgraded shares of Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 price target on the stock in a research report on Thursday, May 1st. Evercore ISI decreased their price objective on shares of Caterpillar from $375.00 to $373.00 and set an "in-line" rating for the company in a report on Monday, May 19th. Bank of America boosted their price objective 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. Robert W. Baird upped their price objective on shares of Caterpillar from $395.00 to $422.00 and gave the company an "outperform" rating in a report on Friday, June 20th. Finally, UBS Group upgraded shares of Caterpillar from a "sell" rating to a "neutral" rating and boosted their target price for the company from $272.00 to $357.00 in a research note on Friday, May 16th. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Caterpillar presently has an average rating of "Moderate Buy" and an average target price of $404.64.

Caterpillar Company 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.