Millburn Ridgefield LLC DE Acquires Shares of 713 Caterpillar Inc. (NYSE:CAT)

Millburn Ridgefield LLC DE purchased a new position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 713 shares of the industrial products company's stock, valued at approximately $235,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Proficio Capital Partners LLC raised its stake in Caterpillar by 38.3% in the fourth quarter. Proficio Capital Partners LLC now owns 2,218 shares of the industrial products company's stock valued at $805,000 after buying an additional 614 shares in the last quarter. Victrix Investment Advisors acquired a new position in Caterpillar in the 4th quarter valued at about $2,090,000. Braun Stacey Associates Inc. increased its position in Caterpillar by 2.8% in the 4th quarter. Braun Stacey Associates Inc. now owns 34,837 shares of the industrial products company's stock valued at $12,637,000 after acquiring an additional 963 shares during the period. Strategic Advisors LLC increased its position in Caterpillar by 14.6% during the 4th quarter. Strategic Advisors LLC now owns 5,724 shares of the industrial products company's stock worth $2,076,000 after purchasing an additional 730 shares during the period. Finally, MFG Wealth Management Inc. acquired a new position in Caterpillar during the 4th quarter worth approximately $2,308,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Trading Down 1.2%

Shares of CAT stock traded down $4.17 during mid-day trading on Friday, hitting $356.79. 1,609,485 shares of the company's stock were exchanged, compared to its average volume of 2,564,350. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $418.50. The stock has a 50-day simple moving average of $327.10 and a two-hundred day simple moving average of $348.25. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. The stock has a market cap of $168.06 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 1.87 and a beta of 1.37.

Caterpillar (NYSE:CAT - Get Free Report) last issued its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share for the quarter, missing the consensus estimate of $4.35 by ($0.10). The firm had revenue of $14.25 billion during the quarter, compared to analysts' expectations of $14.64 billion. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. The company's quarterly revenue was down 9.8% compared to the same quarter last year. During the same period last year, the business posted $5.60 earnings per share. Equities analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be given a $1.51 dividend. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Monday, July 21st. Caterpillar's dividend payout ratio (DPR) is 27.49%.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CAT shares. Baird R W upgraded Caterpillar from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Oppenheimer raised Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 price target on the stock in a research note on Thursday, May 1st. Morgan Stanley raised Caterpillar from an "underweight" rating to an "equal weight" rating and decreased their price target for the stock from $300.00 to $283.00 in a research note on Wednesday, April 16th. DA Davidson boosted their price target on Caterpillar from $325.00 to $331.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. Finally, Robert W. Baird raised Caterpillar from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $309.00 to $395.00 in a research note on Tuesday, May 13th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $372.92.

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.