Janney Capital Management LLC Sells 2,166 Shares of Caterpillar Inc. (NYSE:CAT)

Janney Capital Management LLC lessened its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 5.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,787 shares of the industrial products company's stock after selling 2,166 shares during the period. Janney Capital Management LLC's holdings in Caterpillar were worth $12,792,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Flagship Wealth Advisors LLC purchased a new stake in shares of Caterpillar during the 4th quarter valued at approximately $26,000. Halbert Hargrove Global Advisors LLC bought a new position in shares of Caterpillar in the fourth quarter worth $27,000. Cyrus J. Lawrence LLC purchased a new position in shares of Caterpillar in the fourth quarter valued at $27,000. Noble Wealth Management PBC bought a new stake in shares of Caterpillar during the 4th quarter valued at $31,000. Finally, Investment Management Corp VA ADV bought a new position in Caterpillar in the 4th quarter worth about $33,000. 70.98% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director David Maclennan bought 375 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were bought at an average price of $320.70 per share, for a total transaction of $120,262.50. Following the purchase, 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 acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.33% of the company's stock.

Caterpillar Trading Up 0.5%

Shares of NYSE CAT traded up $1.68 during midday trading on Friday, hitting $361.48. 1,206,161 shares of the company traded hands, compared to its average volume of 2,543,561. 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 Inc. has a 12-month low of $267.30 and a 12-month high of $418.50. The firm has a market cap of $170.27 billion, a P/E ratio of 17.61, a P/E/G ratio of 2.40 and a beta of 1.37. The stock has a 50-day moving average price of $332.62 and a 200 day moving average price of $347.41.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 EPS 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 firm had revenue of $14.25 billion for the quarter, compared to analysts' expectations of $14.64 billion. During the same period last year, the company posted $5.60 earnings per share. The business's revenue for the quarter was down 9.8% compared to the same quarter last year. As a group, analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.67%. 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 29.43%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. DA Davidson raised their price objective on shares of Caterpillar from $325.00 to $331.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. 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 note on Friday, May 16th. Truist Financial reaffirmed a "buy" rating and issued a $396.00 price target (up previously from $389.00) on shares of Caterpillar in a report on Thursday, May 1st. Citigroup boosted their price objective on Caterpillar from $320.00 to $370.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Finally, Wall Street Zen cut shares of Caterpillar from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $375.17.

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.