J. Safra Sarasin Holding AG Decreases Stock Position in Caterpillar Inc. (NYSE:CAT)

Key Points

• J. Safra Sarasin Holding AG sold 1,312 shares of Caterpillar Inc., reducing its holdings by 1.9%, while the total value of its remaining shares is approximately $22.08 million.
• Analysts have recently increased their target prices for Caterpillar, with Barclays raising its target to $383 and DA Davidson to $388, reflecting a positive outlook on the stock.
• Caterpillar announced a quarterly dividend increase from $1.41 to $1.51 per share, with a yield of 1.4%, signaling financial strength despite a decrease in quarterly revenue year-over-year.

J. Safra Sarasin Holding AG lowered its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 1.9% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 66,955 shares of the industrial products company's stock after selling 1,312 shares during the period. J. Safra Sarasin Holding AG's holdings in Caterpillar were worth $22,082,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV acquired a new position in shares of Caterpillar during the 4th quarter valued at about $33,000. Curat Global LLC purchased a new stake in Caterpillar in the 1st quarter valued at about $33,000. Redmont Wealth Advisors LLC acquired a new position in Caterpillar in the first quarter valued at about $33,000. Quarry LP acquired a new position in Caterpillar in the fourth quarter valued at about $35,000. Finally, Mpwm Advisory Solutions LLC acquired a new position in Caterpillar in the fourth quarter valued at about $36,000. Hedge funds and other institutional investors own 70.98% of the company's stock.

Insider Activity at Caterpillar

In related news, Director David Maclennan bought 375 shares of the firm'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 of the company's stock, valued at approximately $2,133,617.10. This trade 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. Insiders own 0.33% of the company's stock.

Caterpillar Stock Performance

Shares of Caterpillar stock traded up $5.52 during trading on Monday, reaching $434.21. The company's stock had a trading volume of 4,055,586 shares, compared to its average volume of 2,735,397. The company has a 50-day moving average price of $385.66 and a two-hundred day moving average price of $354.03. The firm has a market cap of $204.53 billion, a PE ratio of 21.16, a P/E/G ratio of 2.68 and a beta of 1.40. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $441.15. 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 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Monday, July 21st. This is an increase from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's payout ratio is presently 29.43%.

Analysts Set New Price Targets

A number of research analysts have commented on CAT shares. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Caterpillar in a research report on Monday, July 14th. Evercore ISI lowered their price objective on shares of Caterpillar from $375.00 to $373.00 and set an "in-line" rating for the company in a research note on Monday, May 19th. Barclays raised their price objective on shares of Caterpillar from $335.00 to $383.00 and gave the company an "equal weight" rating in a research note on Monday, July 21st. Morgan Stanley raised shares of Caterpillar from an "underweight" rating to an "equal weight" rating and lowered their price objective for the company from $300.00 to $283.00 in a research note on Wednesday, April 16th. Finally, Truist Financial lifted their price target on shares of Caterpillar from $396.00 to $414.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued 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 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.