Mill Capital Management LLC Has $2.97 Million Stake in Caterpillar Inc. (NYSE:CAT)

Mill Capital Management LLC lessened its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 7.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,999 shares of the industrial products company's stock after selling 738 shares during the quarter. Mill Capital Management LLC's holdings in Caterpillar were worth $2,968,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Moran Wealth Management LLC raised its stake in Caterpillar by 11.6% in the first quarter. Moran Wealth Management LLC now owns 61,230 shares of the industrial products company's stock valued at $20,194,000 after purchasing an additional 6,352 shares in the last quarter. Fourth Dimension Wealth LLC grew its position in Caterpillar by 16.5% in the first quarter. Fourth Dimension Wealth LLC now owns 275 shares of the industrial products company's stock valued at $91,000 after acquiring an additional 39 shares during the last quarter. International Assets Investment Management LLC grew its position in Caterpillar by 17.3% in the first quarter. International Assets Investment Management LLC now owns 6,385 shares of the industrial products company's stock valued at $2,106,000 after acquiring an additional 944 shares during the last quarter. Cornerstone Wealth Group LLC grew its position in Caterpillar by 0.8% in the first quarter. Cornerstone Wealth Group LLC now owns 4,640 shares of the industrial products company's stock valued at $1,530,000 after acquiring an additional 36 shares during the last quarter. Finally, Vectors Research Management LLC grew its position in Caterpillar by 3.0% in the first quarter. Vectors Research Management LLC now owns 2,718 shares of the industrial products company's stock valued at $896,000 after acquiring an additional 80 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Caterpillar Trading Up 0.9%

Shares of Caterpillar stock traded up $3.30 during midday trading on Friday, reaching $385.18. The company had a trading volume of 4,445,249 shares, compared to its average volume of 2,546,518. The stock has a fifty day moving average price of $342.13 and a 200 day moving average price of $346.46. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.32 and a quick ratio of 0.77. The firm has a market cap of $181.44 billion, a PE ratio of 18.77, a P/E/G ratio of 2.54 and a beta of 1.37. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $418.50.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.64 billion. Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. Caterpillar's revenue was down 9.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.60 earnings per share. On average, equities analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share 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 paid a $1.51 dividend. 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. This represents a $6.04 annualized dividend and a yield of 1.57%. Caterpillar's payout ratio is 27.49%.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director David Maclennan purchased 375 shares of the company's stock in a transaction on Wednesday, May 7th. The shares were purchased at an average cost of $320.70 per share, with a total value of $120,262.50. Following the completion of the purchase, the director now owns 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 Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Morgan Stanley upgraded Caterpillar from an "underweight" rating to an "equal weight" rating and decreased their target price for the company from $300.00 to $283.00 in a research report on Wednesday, April 16th. JPMorgan Chase & Co. decreased their target price on Caterpillar from $490.00 to $380.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Evercore ISI decreased their target price on Caterpillar from $375.00 to $373.00 and set an "in-line" rating on the stock in a research report on Monday, May 19th. Baird R W upgraded Caterpillar from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Finally, UBS Group upgraded Caterpillar from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $272.00 to $357.00 in a report on Friday, May 16th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $380.83.

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.