Millburn Ridgefield LLC DE Takes Position in Caterpillar Inc. (NYSE:CAT)

Millburn Ridgefield LLC DE acquired a new stake in Caterpillar Inc. (NYSE:CAT - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 713 shares of the industrial products company's stock, valued at approximately $235,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Adell Harriman & Carpenter Inc. boosted its holdings in Caterpillar by 1.2% during the fourth quarter. Adell Harriman & Carpenter Inc. now owns 2,256 shares of the industrial products company's stock worth $818,000 after buying an additional 27 shares in the last quarter. Abacus Planning Group Inc. lifted its position in shares of Caterpillar by 1.0% in the fourth quarter. Abacus Planning Group Inc. now owns 2,897 shares of the industrial products company's stock worth $1,051,000 after purchasing an additional 28 shares in the last quarter. Cape Investment Advisory Inc. grew its holdings in shares of Caterpillar by 6.3% during the 4th quarter. Cape Investment Advisory Inc. now owns 471 shares of the industrial products company's stock valued at $171,000 after acquiring an additional 28 shares in the last quarter. Beacon Capital Management LLC grew its stake in shares of Caterpillar by 2.1% in the 4th quarter. Beacon Capital Management LLC now owns 1,432 shares of the industrial products company's stock valued at $520,000 after buying an additional 29 shares in the last quarter. Finally, Klingman & Associates LLC raised its holdings in shares of Caterpillar by 4.5% during the 4th quarter. Klingman & Associates LLC now owns 703 shares of the industrial products company's stock valued at $255,000 after purchasing an additional 30 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Caterpillar

In other news, Director David Maclennan acquired 375 shares of the firm'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 acquisition, the director now directly owns 6,653 shares in the company, valued at $2,133,617.10. This represents a 5.97% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.33% of the company's stock.

Analyst Ratings Changes

CAT has been the subject of a number of recent analyst reports. Evercore ISI decreased their target price on Caterpillar from $375.00 to $373.00 and set an "in-line" rating for the company in a research report on Monday, May 19th. Baird R W upgraded shares of Caterpillar from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Robert W. Baird upgraded Caterpillar from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $309.00 to $395.00 in a research report on Tuesday, May 13th. UBS Group raised shares of Caterpillar from a "sell" rating to a "neutral" rating and raised their price objective for the stock from $272.00 to $357.00 in a report on Friday, May 16th. Finally, Bank of America increased their target price on Caterpillar from $335.00 to $385.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $372.92.

Caterpillar Stock Down 0.4%

Shares of Caterpillar stock traded down $1.30 during trading on Thursday, reaching $361.84. The stock had a trading volume of 805,514 shares, compared to its average volume of 2,583,151. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $418.50. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. The stock has a fifty day moving average price of $323.77 and a two-hundred day moving average price of $349.29. The company has a market capitalization of $170.44 billion, a price-to-earnings ratio of 16.40, a P/E/G ratio of 1.87 and a beta of 1.37.

Caterpillar (NYSE:CAT - Get Free Report) last released 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). The company had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.64 billion. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. The business's revenue was down 9.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.60 EPS. Sell-side analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be paid a dividend of $1.51 per share. This is an increase from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a dividend yield of 1.67%. Caterpillar's payout ratio is currently 27.49%.

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.