Heritage Investors Management Corp Decreases Stock Position in Caterpillar Inc. (NYSE:CAT)

Heritage Investors Management Corp reduced its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 0.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 128,969 shares of the industrial products company's stock after selling 731 shares during the quarter. Caterpillar accounts for 1.5% of Heritage Investors Management Corp's holdings, making the stock its 16th biggest holding. Heritage Investors Management Corp's holdings in Caterpillar were worth $42,537,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Proficio Capital Partners LLC lifted its stake in shares of Caterpillar by 38.3% in the fourth quarter. Proficio Capital Partners LLC now owns 2,218 shares of the industrial products company's stock worth $805,000 after acquiring an additional 614 shares during the period. Victrix Investment Advisors bought a new stake in shares of Caterpillar during the fourth quarter valued at approximately $2,090,000. Pacific Point Advisors LLC bought a new stake in shares of Caterpillar during the fourth quarter valued at approximately $579,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Caterpillar by 18.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 191,640 shares of the industrial products company's stock valued at $63,202,000 after acquiring an additional 30,070 shares in the last quarter. Finally, Liberty Square Wealth Partners LLC grew its holdings in Caterpillar by 5.8% during the first quarter. Liberty Square Wealth Partners LLC now owns 1,636 shares of the industrial products company's stock worth $540,000 after buying an additional 90 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Stock Up 2.1%

CAT stock traded up $8.96 during midday trading on Wednesday, hitting $426.15. The stock had a trading volume of 1,913,593 shares, compared to its average volume of 2,501,517. The firm has a market cap of $200.73 billion, a price-to-earnings ratio of 20.77, a price-to-earnings-growth ratio of 2.72 and a beta of 1.38. The business has a 50-day moving average of $369.61 and a two-hundred day moving average of $349.62. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $428.10. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.32 and a quick ratio of 0.77.

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

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be issued a $1.51 dividend. 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 dividend on an annualized basis and a yield of 1.42%. Caterpillar's dividend payout ratio is currently 29.43%.

Insider Activity at Caterpillar

In related news, Director David Maclennan acquired 375 shares of the firm's stock in a transaction dated Wednesday, May 7th. The shares were purchased at an average price of $320.70 per share, with a total value of $120,262.50. Following the completion of the purchase, the director directly owned 6,653 shares of the company's stock, valued at $2,133,617.10. This represents 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 accessible through this hyperlink. 0.33% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CAT has been the subject of several recent research reports. Melius upgraded 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 report on Tuesday, May 13th. Barclays increased their price objective on Caterpillar from $335.00 to $383.00 and gave the stock an "equal weight" rating in a report on Monday. Morgan Stanley raised Caterpillar from an "underweight" rating to an "equal weight" rating and dropped their price objective for the stock from $300.00 to $283.00 in a report on Wednesday, April 16th. Finally, Citigroup reaffirmed a "buy" rating and issued a $420.00 price target (up previously from $370.00) on shares of Caterpillar in a report on Tuesday, June 24th. Seven research 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, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $419.33.

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.