Hohimer Wealth Management LLC Sells 1,001 Shares of Caterpillar Inc. (NYSE:CAT)

Hohimer Wealth Management LLC lessened its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 20.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,941 shares of the industrial products company's stock after selling 1,001 shares during the period. Hohimer Wealth Management LLC's holdings in Caterpillar were worth $1,300,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Bogart Wealth LLC grew its stake in shares of Caterpillar by 4.5% in the 1st quarter. Bogart Wealth LLC now owns 29,250 shares of the industrial products company's stock worth $9,647,000 after buying an additional 1,259 shares in the last quarter. Catalyst Financial Partners LLC raised its position in shares of Caterpillar by 1.8% during the 1st quarter. Catalyst Financial Partners LLC now owns 4,749 shares of the industrial products company's stock valued at $1,566,000 after buying an additional 85 shares in the last quarter. Signaturefd LLC grew its position in Caterpillar by 2.1% in the first quarter. Signaturefd LLC now owns 11,936 shares of the industrial products company's stock worth $3,937,000 after acquiring an additional 245 shares in the last quarter. Slow Capital Inc. increased its stake in Caterpillar by 1.3% during the first quarter. Slow Capital Inc. now owns 10,834 shares of the industrial products company's stock worth $3,573,000 after acquiring an additional 142 shares during the last quarter. Finally, Edgestream Partners L.P. raised its position in Caterpillar by 580.7% during the first quarter. Edgestream Partners L.P. now owns 18,596 shares of the industrial products company's stock valued at $6,133,000 after purchasing an additional 15,864 shares during the period. Hedge funds and other institutional investors own 70.98% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Bank of America raised their target price on shares of Caterpillar from $335.00 to $385.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Melius raised shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price target on the stock in a report on Wednesday, July 9th. Robert W. Baird raised their price objective on Caterpillar from $395.00 to $422.00 and gave the company an "outperform" rating in a report on Friday, June 20th. DA Davidson raised their price objective on Caterpillar from $325.00 to $331.00 and gave the company a "neutral" rating in a report on Monday, May 5th. Finally, Sanford C. Bernstein reissued a "market perform" rating on shares of Caterpillar in a research note on Monday. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $406.47.

Caterpillar Stock Down 0.0%

CAT stock traded down $0.02 during midday trading on Monday, reaching $405.90. The company had a trading volume of 2,497,380 shares, compared to its average volume of 2,700,815. The company has a market capitalization of $191.20 billion, a P/E ratio of 19.78, a PEG ratio of 2.70 and a beta of 1.38. The company has a 50 day moving average of $360.79 and a two-hundred day moving average of $347.92. The company has a current ratio of 1.32, a quick ratio of 0.77 and a debt-to-equity ratio of 1.43. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $418.50.

Caterpillar (NYSE:CAT - Get Free Report) last released its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share 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 company had revenue of $14.25 billion during the quarter, compared to the consensus estimate of $14.64 billion. During the same quarter in the previous year, the business posted $5.60 EPS. The firm's quarterly revenue was down 9.8% on a year-over-year basis. On average, equities research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.49%. 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 is currently 29.43%.

Insider Buying and Selling

In related news, Director David Maclennan acquired 375 shares of the company's stock in a transaction that occurred 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 completion of the acquisition, the director directly owned 6,653 shares in the company, valued at approximately $2,133,617.10. The trade was a 5.97% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.33% of the company's stock.

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.