Madison Asset Management LLC Cuts Holdings in Caterpillar Inc. (NYSE:CAT)

Madison Asset Management LLC trimmed its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 5.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 22,176 shares of the industrial products company's stock after selling 1,300 shares during the quarter. Madison Asset Management LLC's holdings in Caterpillar were worth $7,314,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CAT. McIlrath & Eck LLC boosted its position in shares of Caterpillar by 3.2% during the 4th quarter. McIlrath & Eck LLC now owns 962 shares of the industrial products company's stock valued at $349,000 after acquiring an additional 30 shares during the last quarter. Asset Management Group Inc. boosted its position in shares of Caterpillar by 0.3% during the 4th quarter. Asset Management Group Inc. now owns 10,771 shares of the industrial products company's stock valued at $3,907,000 after acquiring an additional 32 shares during the last quarter. Summit X LLC boosted its position in shares of Caterpillar by 3.2% during the 1st quarter. Summit X LLC now owns 1,025 shares of the industrial products company's stock valued at $338,000 after acquiring an additional 32 shares during the last quarter. Dunhill Financial LLC boosted its holdings in shares of Caterpillar by 21.3% in the 4th quarter. Dunhill Financial LLC now owns 205 shares of the industrial products company's stock worth $75,000 after purchasing an additional 36 shares in the last quarter. Finally, Silvia Mccoll Wealth Management LLC boosted its holdings in shares of Caterpillar by 2.1% in the 1st quarter. Silvia Mccoll Wealth Management LLC now owns 1,752 shares of the industrial products company's stock worth $578,000 after purchasing an additional 36 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director David Maclennan acquired 375 shares of Caterpillar stock in a transaction that occurred on Wednesday, May 7th. The stock was bought at an average price of $320.70 per share, with a total value of $120,262.50. Following the transaction, the director directly owned 6,653 shares in the company, valued at approximately $2,133,617.10. This represents a 5.97% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.33% of the stock is currently owned by company insiders.

Caterpillar Stock Up 1.1%

Shares of NYSE:CAT traded up $4.55 during trading on Friday, hitting $434.07. The stock had a trading volume of 2,207,764 shares, compared to its average volume of 2,516,496. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $434.87. The company has a market capitalization of $204.47 billion, a PE ratio of 21.15, a PEG ratio of 2.71 and a beta of 1.38. The firm's fifty day moving average is $377.02 and its 200 day moving average is $351.82. The company has a quick ratio of 0.77, a current ratio of 1.32 and a debt-to-equity ratio of 1.43.

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). Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. The firm had revenue of $14.25 billion during the quarter, compared to the consensus estimate of $14.64 billion. During the same period in the prior year, the company posted $5.60 EPS. The firm's revenue was down 9.8% on a year-over-year basis. Analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The business 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 1.39%. The ex-dividend date of this dividend is Monday, July 21st. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's dividend payout ratio (DPR) is 29.43%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Robert W. Baird upped their price objective on Caterpillar from $395.00 to $422.00 and gave the stock an "outperform" rating in a report on Friday, June 20th. Barclays upped their price objective on Caterpillar from $335.00 to $383.00 and gave the stock an "equal weight" rating in a report on Monday, July 21st. Oppenheimer upped their price objective on Caterpillar from $395.00 to $483.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Truist Financial increased their target price on Caterpillar from $396.00 to $414.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Finally, DA Davidson increased their target price on Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus 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.