Caterpillar Inc. (NYSE:CAT) Shares Sold by Jackson Square Capital LLC

Jackson Square Capital LLC lessened its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 32.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,361 shares of the industrial products company's stock after selling 5,528 shares during the quarter. Caterpillar accounts for 1.2% of Jackson Square Capital LLC's portfolio, making the stock its 23rd largest position. Jackson Square Capital LLC's holdings in Caterpillar were worth $3,747,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in CAT. Bernard Wealth Management Corp. boosted its position in Caterpillar by 0.6% during the first quarter. Bernard Wealth Management Corp. now owns 8,390 shares of the industrial products company's stock worth $2,767,000 after purchasing an additional 54 shares in the last quarter. BNC Wealth Management LLC increased its holdings in shares of Caterpillar by 2.0% in the first quarter. BNC Wealth Management LLC now owns 10,782 shares of the industrial products company's stock valued at $3,556,000 after purchasing an additional 208 shares during the last quarter. Goldstone Financial Group LLC increased its holdings in shares of Caterpillar by 26.0% in the first quarter. Goldstone Financial Group LLC now owns 2,573 shares of the industrial products company's stock valued at $848,000 after purchasing an additional 531 shares during the last quarter. CVA Family Office LLC increased its stake in Caterpillar by 7.4% during the first quarter. CVA Family Office LLC now owns 2,609 shares of the industrial products company's stock worth $860,000 after acquiring an additional 180 shares during the last quarter. Finally, Salem Investment Counselors Inc. increased its stake in Caterpillar by 0.7% during the first quarter. Salem Investment Counselors Inc. now owns 42,533 shares of the industrial products company's stock worth $14,027,000 after acquiring an additional 304 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

Caterpillar Stock Performance

CAT traded down $4.17 on Friday, hitting $356.79. 1,609,485 shares of the company traded hands, compared to its average volume of 2,570,874. The stock has a market capitalization of $168.06 billion, a PE ratio of 16.17, a PEG ratio of 1.87 and a beta of 1.37. The company has a 50 day moving average of $327.10 and a 200-day moving average of $348.63. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $418.50. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40.

Caterpillar (NYSE:CAT - Get Free Report) last issued its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.35 by ($0.10). The business had revenue of $14.25 billion for the quarter, compared to analysts' expectations of $14.64 billion. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. The business's quarterly revenue was down 9.8% on a year-over-year basis. During the same period last year, the company posted $5.60 earnings per share. Sell-side analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

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 issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Monday, July 21st. This is a boost from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's dividend payout ratio is 27.49%.

Insider Buying and Selling at Caterpillar

In related news, Director David Maclennan bought 375 shares of the stock in a transaction on Wednesday, May 7th. The shares were purchased at an average price of $320.70 per share, for a total transaction of $120,262.50. Following the acquisition, the director now owns 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 the SEC website. 0.33% of the stock is owned by insiders.

Analyst Ratings Changes

CAT has been the subject of several research analyst reports. Oppenheimer upgraded Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 price target for the company in a research report on Thursday, May 1st. Robert W. Baird raised Caterpillar from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $309.00 to $395.00 in a research report on Tuesday, May 13th. Wall Street Zen downgraded Caterpillar from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Baird R W raised Caterpillar from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Finally, Truist Financial reissued a "buy" rating and issued a $396.00 target price (up from $389.00) on shares of Caterpillar in a report on Thursday, May 1st. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Caterpillar has a consensus rating of "Moderate Buy" and a consensus target price of $372.92.

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.