MainStreet Investment Advisors LLC Sells 1,318 Shares of Caterpillar Inc. (NYSE:CAT)

MainStreet Investment Advisors LLC decreased its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 4.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,210 shares of the industrial products company's stock after selling 1,318 shares during the period. Caterpillar accounts for about 1.3% of MainStreet Investment Advisors LLC's holdings, making the stock its 24th largest holding. MainStreet Investment Advisors LLC's holdings in Caterpillar were worth $8,974,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Flagship Wealth Advisors LLC purchased a new position in shares of Caterpillar during the 4th quarter worth approximately $26,000. Cyrus J. Lawrence LLC purchased a new position in shares of Caterpillar during the 4th quarter worth approximately $27,000. Investment Management Corp VA ADV purchased a new position in shares of Caterpillar during the 4th quarter worth approximately $33,000. Curat Global LLC purchased a new stake in shares of Caterpillar in the 1st quarter worth approximately $33,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in shares of Caterpillar in the 1st quarter worth approximately $33,000. Institutional investors own 70.98% of the company's stock.

Caterpillar Stock Up 2.1%

CAT stock opened at $402.71 on Thursday. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $418.50. The business's 50-day moving average is $357.26 and its two-hundred day moving average is $347.63. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.77 and a current ratio of 1.32. The company has a market cap of $189.69 billion, a price-to-earnings ratio of 19.63, a P/E/G ratio of 2.62 and a beta of 1.38.

Caterpillar (NYSE:CAT - Get Free Report) last posted its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share for the quarter, missing analysts' consensus estimates of $4.35 by ($0.10). Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. 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% compared to the same quarter last year. As a group, analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be issued a $1.51 dividend. This is an increase from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date is Monday, July 21st. This represents a $6.04 dividend on an annualized basis and a yield of 1.50%. Caterpillar's dividend payout ratio is currently 27.49%.

Insiders Place Their Bets

In related news, Director David Maclennan acquired 375 shares of the firm's stock in a transaction dated Wednesday, May 7th. The shares were purchased at an average price of $320.70 per share, with a total value of $120,262.50. Following the completion of the purchase, the director directly owned 6,653 shares of the company's stock, valued at $2,133,617.10. This represents a 5.97% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Morgan Stanley upgraded Caterpillar from an "underweight" rating to an "equal weight" rating and cut their price target for the stock from $300.00 to $283.00 in a research note on Wednesday, April 16th. Robert W. Baird upped their price target on Caterpillar from $395.00 to $422.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. Citigroup restated a "buy" rating and issued a $420.00 price target (up previously from $370.00) on shares of Caterpillar in a research note on Tuesday, June 24th. UBS Group upgraded Caterpillar from a "sell" rating to a "neutral" rating and upped their price target for the stock from $272.00 to $357.00 in a research note on Friday, May 16th. Finally, Evercore ISI cut 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. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Caterpillar currently has a consensus rating of "Moderate Buy" and an average target price of $397.86.

About Caterpillar

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.

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