Kintegral Advisory LLC Lowers Stock Position in Caterpillar Inc. (NYSE:CAT)

Kintegral Advisory LLC cut its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 32.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,327 shares of the industrial products company's stock after selling 4,085 shares during the quarter. Kintegral Advisory LLC's holdings in Caterpillar were worth $2,746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in Caterpillar in the fourth quarter worth about $2,184,364,000. GAMMA Investing LLC raised its stake in Caterpillar by 43,447.3% during 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 buying an additional 3,721,693 shares during the last quarter. Capital Research Global Investors boosted its stake in Caterpillar by 69.3% in the 4th quarter. Capital Research Global Investors now owns 2,924,054 shares of the industrial products company's stock worth $1,060,730,000 after purchasing an additional 1,196,861 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Caterpillar in the fourth quarter worth approximately $353,231,000. Finally, Northern Trust Corp lifted its position in Caterpillar by 11.8% in the 4th 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 in the last quarter. Institutional investors own 70.98% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CAT. UBS Group raised shares of Caterpillar from a "sell" rating to a "neutral" rating and raised their price target for the company from $272.00 to $357.00 in a report on Friday, May 16th. Morgan Stanley raised Caterpillar from an "underweight" rating to an "equal weight" rating and cut their price target for the company from $300.00 to $283.00 in a report on Wednesday, April 16th. Oppenheimer raised shares of Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 price objective for the company in a research note on Thursday, May 1st. Baird R W raised Caterpillar from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Caterpillar from $490.00 to $380.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Caterpillar has an average rating of "Moderate Buy" and a consensus target price of $380.83.

Insider Activity

In other Caterpillar news, Director David Maclennan bought 375 shares of Caterpillar 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 acquisition, the director directly owned 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.33% of the company's stock.

Caterpillar Price Performance

Shares of NYSE CAT traded up $0.90 during midday trading on Friday, hitting $399.33. The stock had a trading volume of 1,737,838 shares, compared to its average volume of 2,523,847. The company has a quick ratio of 0.77, a current ratio of 1.32 and a debt-to-equity ratio of 1.43. The stock has a 50 day simple moving average of $350.10 and a 200-day simple moving average of $346.79. The company has a market capitalization of $188.10 billion, a PE ratio of 19.46, a P/E/G ratio of 2.64 and a beta of 1.38. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $418.50.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share for the quarter, missing the consensus estimate of $4.35 by ($0.10). The firm had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.64 billion. Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The company's revenue was down 9.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.60 EPS. On average, sell-side analysts expect 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. Stockholders of record on Monday, July 21st will be paid a $1.51 dividend. The ex-dividend date is Monday, July 21st. This is a boost from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.51%. Caterpillar's payout ratio is presently 27.49%.

Caterpillar 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.