JPL Wealth Management LLC Sells 1,635 Shares of Caterpillar Inc. (NYSE:CAT)

JPL Wealth Management LLC lowered its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 12.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,901 shares of the industrial products company's stock after selling 1,635 shares during the period. Caterpillar accounts for approximately 1.7% of JPL Wealth Management LLC's portfolio, making the stock its 14th largest holding. JPL Wealth Management LLC's holdings in Caterpillar were worth $4,361,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Caterpillar in the fourth quarter worth $2,184,364,000. GAMMA Investing LLC increased its stake in Caterpillar by 43,447.3% in the first quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company's stock valued at $1,230,239,000 after acquiring an additional 3,721,693 shares during the last quarter. Capital Research Global Investors increased its stake in 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 valued at $1,060,730,000 after acquiring an additional 1,196,861 shares during the last quarter. Northern Trust Corp increased its stake in Caterpillar by 11.8% in the fourth quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company's stock valued at $2,483,937,000 after acquiring an additional 724,477 shares during the last quarter. Finally, APG Asset Management N.V. grew its stake in shares of Caterpillar by 1,278.6% during the fourth quarter. APG Asset Management N.V. now owns 440,641 shares of the industrial products company's stock valued at $154,367,000 after buying an additional 408,678 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

Caterpillar Price Performance

Shares of NYSE CAT traded up $4.55 during mid-day trading on Friday, hitting $434.07. 2,207,764 shares of the company's stock traded hands, compared to its average volume of 2,516,496. The company's 50-day moving average is $377.02 and its two-hundred day moving average is $351.88. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.32 and a quick ratio of 0.77. The company has a market capitalization of $204.47 billion, a P/E ratio of 21.15, a PEG ratio of 2.69 and a beta of 1.38. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $434.87.

Caterpillar (NYSE:CAT - Get Free Report) last announced its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 15.71% and a return on equity of 53.77%. The firm's quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.60 earnings per share. On average, equities analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal 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 $1.51 dividend. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Monday, July 21st. Caterpillar's dividend payout ratio is 29.43%.

Insiders Place Their Bets

In other news, Director David Maclennan acquired 375 shares of Caterpillar stock in a transaction that occurred on Wednesday, May 7th. The shares were bought at an average cost of $320.70 per share, with a total value of $120,262.50. Following the transaction, the director directly owned 6,653 shares of the company's stock, valued at $2,133,617.10. This trade represents a 5.97% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.33% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Melius Research raised Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price objective on the stock in a research note on Wednesday, July 9th. Barclays raised their target price on Caterpillar from $335.00 to $383.00 and gave the stock an "equal weight" rating in a research note on Monday, July 21st. UBS Group raised Caterpillar from a "sell" rating to a "neutral" rating and raised their target price for the stock from $272.00 to $357.00 in a research note on Friday, May 16th. Bank of America raised their target price on Caterpillar from $335.00 to $385.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Finally, Melius raised Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 target price on the stock in a research note on Wednesday, July 9th. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Caterpillar presently 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.