Main Street Research LLC Has $32.51 Million Position in Caterpillar Inc. (NYSE:CAT)

Main Street Research LLC grew its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 2.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 98,562 shares of the industrial products company's stock after purchasing an additional 2,076 shares during the quarter. Caterpillar makes up approximately 2.1% of Main Street Research LLC's holdings, making the stock its 23rd biggest position. Main Street Research LLC's holdings in Caterpillar were worth $32,506,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CAT. Pacific Point Advisors LLC purchased a new position in Caterpillar in the 4th quarter worth about $579,000. Brighton Jones LLC lifted its stake in Caterpillar by 51.5% in the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company's stock valued at $2,688,000 after buying an additional 2,519 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in shares of Caterpillar by 38.3% during the fourth quarter. Proficio Capital Partners LLC now owns 2,218 shares of the industrial products company's stock worth $805,000 after buying an additional 614 shares in the last quarter. AlphaQuest LLC boosted its stake in Caterpillar by 196.7% during the fourth quarter. AlphaQuest LLC now owns 1,733 shares of the industrial products company's stock worth $629,000 after buying an additional 1,149 shares during the last quarter. Finally, Johnson Investment Counsel Inc. boosted its holdings in Caterpillar by 1.3% in the 4th quarter. Johnson Investment Counsel Inc. now owns 12,659 shares of the industrial products company's stock valued at $4,592,000 after purchasing an additional 160 shares during the last quarter. Institutional investors own 70.98% of the company's stock.

Insider Buying and Selling

In related news, Director David Maclennan acquired 375 shares of Caterpillar stock in a transaction dated Wednesday, May 7th. The stock was acquired at an average cost of $320.70 per share, with a total value of $120,262.50. Following the purchase, the director directly owned 6,653 shares in the company, valued at $2,133,617.10. The trade was a 5.97% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is currently owned by insiders.

Caterpillar Stock Up 2.1%

NYSE:CAT traded up $8.42 during trading hours on Wednesday, hitting $402.71. The stock had a trading volume of 3,099,408 shares, compared to its average volume of 2,531,953. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $418.50. The company has a current ratio of 1.32, a quick ratio of 0.77 and a debt-to-equity ratio of 1.43. The company has a market cap of $189.69 billion, a PE ratio of 19.63, a price-to-earnings-growth ratio of 2.62 and a beta of 1.38. The business has a 50 day simple moving average of $355.40 and a two-hundred day simple moving average of $347.25.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing analysts' consensus estimates 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 analyst estimates of $14.64 billion. During the same quarter last year, the business posted $5.60 earnings per share. The firm's revenue for the quarter was down 9.8% on a year-over-year basis. Analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders 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 1.50%. 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 payout ratio is 27.49%.

Analysts Set New Price Targets

CAT has been the subject of a number of recent analyst reports. Bank of America lifted their price target on shares of Caterpillar from $335.00 to $385.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Morgan Stanley raised shares of Caterpillar from an "underweight" rating to an "equal weight" rating and cut their price objective for the stock from $300.00 to $283.00 in a report on Wednesday, April 16th. Baird R W upgraded shares of Caterpillar from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. JPMorgan Chase & Co. reduced their price target on shares of Caterpillar from $490.00 to $380.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Finally, Robert W. Baird raised their price target on Caterpillar from $395.00 to $422.00 and gave the stock an "outperform" rating in a research report on Friday, June 20th. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $397.86.

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.