Integrated Investment Consultants LLC Sells 16,983 Shares of Caterpillar Inc. (NYSE:CAT)

Key Points

• Integrated Investment Consultants LLC drastically reduced its stake in Caterpillar Inc. by 93.4%, retaining only 1,204 shares worth approximately $397,000.
• Several other hedge funds have increased their positions in Caterpillar, with Phoenix Financial Ltd. raising its stake by 98.7% during the same period.
• Caterpillar announced a quarterly dividend increase to $1.51 per share, representing an annualized dividend yield of 1.39% and a positive change from the previous dividend of $1.41.

Integrated Investment Consultants LLC lessened its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 93.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,204 shares of the industrial products company's stock after selling 16,983 shares during the quarter. Integrated Investment Consultants LLC's holdings in Caterpillar were worth $397,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CAT. GAMMA Investing LLC grew its holdings in shares of 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 worth $1,230,239,000 after acquiring an additional 3,721,693 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Caterpillar by 2,723.1% in the first quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company's stock worth $466,430,000 after buying an additional 1,364,183 shares during the period. Capital Research Global Investors boosted its position in shares of Caterpillar by 69.3% in the fourth quarter. Capital Research Global Investors now owns 2,924,054 shares of the industrial products company's stock worth $1,060,730,000 after buying an additional 1,196,861 shares during the period. Northern Trust Corp boosted its position in shares of Caterpillar by 11.8% in the fourth quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company's stock worth $2,483,937,000 after buying an additional 724,477 shares during the period. Finally, APG Asset Management N.V. boosted its position in shares of 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 buying an additional 408,678 shares during the period. Institutional investors and hedge funds own 70.98% of the company's stock.

Insider Activity at Caterpillar

In other Caterpillar news, Director David Maclennan acquired 375 shares of Caterpillar stock in a transaction dated Wednesday, May 7th. The stock was bought at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the purchase, the director directly owned 6,653 shares in the company, valued at approximately $2,133,617.10. This represents a 5.97% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Price Performance

Shares of CAT stock traded down $0.59 during trading hours on Monday, hitting $433.16. The company had a trading volume of 2,550,228 shares, compared to its average volume of 2,686,110. The firm has a market capitalization of $204.04 billion, a price-to-earnings ratio of 21.11, a PEG ratio of 2.71 and a beta of 1.38. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $436.40. The firm's fifty day moving average is $377.02 and its 200 day moving average is $351.76. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.77 and a current ratio of 1.32.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share for the quarter, missing analysts' consensus estimates 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 analyst estimates of $14.64 billion. During the same period last year, the company earned $5.60 EPS. The business's revenue for the quarter was down 9.8% compared to the same quarter last year. On average, sell-side analysts predict 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. Stockholders of record on Monday, July 21st will be paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.39%. This is an increase from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date of this dividend is Monday, July 21st. Caterpillar's dividend payout ratio is currently 29.43%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CAT shares. Baird R W raised Caterpillar from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. UBS Group raised Caterpillar from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $272.00 to $357.00 in a research report on Friday, May 16th. Robert W. Baird boosted their price target on Caterpillar from $395.00 to $422.00 and gave the stock an "outperform" rating in a research report on Friday, June 20th. Truist Financial boosted their price target on Caterpillar from $396.00 to $414.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Caterpillar in a research report on Monday, July 14th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $419.33.

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.