Mill Capital Management LLC Lowers Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Mill Capital Management LLC reduced its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 7.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,999 shares of the industrial products company's stock after selling 738 shares during the period. Mill Capital Management LLC's holdings in Caterpillar were worth $2,968,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in Caterpillar during the 4th quarter valued at approximately $2,184,364,000. GAMMA Investing LLC boosted its stake in Caterpillar by 43,447.3% during the first quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company's stock worth $1,230,239,000 after buying an additional 3,721,693 shares during the period. Capital Research Global Investors raised its position in Caterpillar by 69.3% in the 4th quarter. Capital Research Global Investors now owns 2,924,054 shares of the industrial products company's stock worth $1,060,730,000 after purchasing an additional 1,196,861 shares during the period. Raymond James Financial Inc. purchased a new position in Caterpillar during the 4th quarter valued at $353,231,000. Finally, Proficio Capital Partners LLC increased its stake in Caterpillar by 50,072.7% in the 4th quarter. Proficio Capital Partners LLC now owns 804,770 shares of the industrial products company's stock worth $291,938,000 after buying an additional 803,166 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on CAT shares. Robert W. Baird lifted their price objective on shares of Caterpillar from $395.00 to $422.00 and gave the company an "outperform" rating in a report on Friday, June 20th. Morgan Stanley raised Caterpillar from an "underweight" rating to an "equal weight" rating and cut their target price for the company from $300.00 to $283.00 in a research report on Wednesday, April 16th. Bank of America lifted their price objective on shares of Caterpillar from $335.00 to $385.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Oppenheimer upgraded Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 price target for the company in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. reduced their price target on Caterpillar from $490.00 to $380.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Six investment 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. Based on data from MarketBeat.com, Caterpillar has a consensus rating of "Moderate Buy" and a consensus price target of $380.83.

Caterpillar Trading Up 2.7%

Shares of CAT stock traded up $10.12 during trading on Thursday, hitting $381.70. 2,571,921 shares of the stock traded hands, compared to its average volume of 2,535,287. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $418.50. The firm has a market capitalization of $179.80 billion, a P/E ratio of 18.60, a price-to-earnings-growth ratio of 2.48 and a beta of 1.37. The firm's fifty day moving average price is $338.55 and its 200-day moving average price is $346.61. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.32 and a quick ratio of 0.77.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing the consensus estimate of $4.35 by ($0.10). The business had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.64 billion. Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The business's revenue for the quarter was down 9.8% on a year-over-year basis. During the same period last year, the company earned $5.60 EPS. As a group, research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.58%. The ex-dividend date 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 27.49%.

Insider Buying and Selling at Caterpillar

In related news, Director David Maclennan acquired 375 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was purchased at an average price 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 approximately $2,133,617.10. This trade represents a 5.97% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.33% of the company's stock.

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.