Caterpillar Inc. (NYSE:CAT) Shares Sold by Legacy Financial Strategies LLC

Legacy Financial Strategies LLC cut its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 63.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,893 shares of the industrial products company's stock after selling 6,760 shares during the period. Legacy Financial Strategies LLC's holdings in Caterpillar were worth $1,284,000 as of its most recent SEC filing.

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

Caterpillar Price Performance

Shares of Caterpillar stock traded down $3.31 during midday trading on Monday, reaching $344.72. The company had a trading volume of 2,552,627 shares, compared to its average volume of 2,617,551. The stock has a fifty day simple moving average of $319.22 and a 200 day simple moving average of $350.64. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $418.50. The company has a market capitalization of $162.38 billion, a price-to-earnings ratio of 15.62, a price-to-earnings-growth ratio of 1.87 and a beta of 1.35.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings data 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). Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. The firm had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.64 billion. During the same quarter in the prior year, the firm earned $5.60 earnings per share. The firm's revenue for the quarter was down 9.8% on a year-over-year basis. As a group, equities research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Monday, April 21st were given a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend was Monday, April 21st. Caterpillar's payout ratio is currently 27.49%.

Analyst Ratings Changes

A number of research analysts recently commented on CAT shares. Citigroup boosted their price target on Caterpillar from $320.00 to $370.00 and gave the stock a "buy" rating in a report on Monday, May 5th. UBS Group upgraded Caterpillar from a "sell" rating to a "neutral" rating and increased their price target for the company from $272.00 to $357.00 in a report on Friday, May 16th. Evercore ISI reduced their target price on Caterpillar from $375.00 to $373.00 and set an "in-line" rating on the stock in a research note on Monday, May 19th. Oppenheimer raised Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 price target on the stock in a research report on Thursday, May 1st. Finally, Raymond James raised Caterpillar from a "market perform" rating to an "outperform" rating in a research report on Monday, February 3rd. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $372.92.

Insider Transactions at Caterpillar

In other news, Director David Maclennan acquired 375 shares of the business's 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 now owns 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 purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.33% of the company's stock.

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.