Minneapolis Portfolio Management Group LLC Has $30.69 Million Holdings in Caterpillar Inc. (NYSE:CAT)

Minneapolis Portfolio Management Group LLC lowered its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 1.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 93,063 shares of the industrial products company's stock after selling 1,180 shares during the period. Caterpillar makes up approximately 4.3% of Minneapolis Portfolio Management Group LLC's holdings, making the stock its 8th biggest position. Minneapolis Portfolio Management Group LLC's holdings in Caterpillar were worth $30,692,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. McGlone Suttner Wealth Management Inc. increased its stake in shares of Caterpillar by 9.4% in the first quarter. McGlone Suttner Wealth Management Inc. now owns 3,968 shares of the industrial products company's stock worth $1,309,000 after purchasing an additional 341 shares during the period. Viewpoint Capital Management LLC increased its stake in shares of Caterpillar by 1.5% in the first quarter. Viewpoint Capital Management LLC now owns 13,505 shares of the industrial products company's stock worth $4,454,000 after purchasing an additional 200 shares during the period. REDW Wealth LLC increased its stake in shares of Caterpillar by 3.5% in the first quarter. REDW Wealth LLC now owns 2,418 shares of the industrial products company's stock worth $797,000 after purchasing an additional 81 shares during the period. Burke & Herbert Bank & Trust Co. increased its stake in shares of Caterpillar by 5.1% in the first quarter. Burke & Herbert Bank & Trust Co. now owns 4,415 shares of the industrial products company's stock worth $1,456,000 after purchasing an additional 215 shares during the period. Finally, Braun Stacey Associates Inc. increased its stake in Caterpillar by 1.1% during the first quarter. Braun Stacey Associates Inc. now owns 35,232 shares of the industrial products company's stock valued at $11,620,000 after acquiring an additional 395 shares during the period. Institutional investors and hedge funds own 70.98% of the company's stock.

Insider Transactions at Caterpillar

In other news, Director David Maclennan acquired 375 shares of Caterpillar stock in a transaction on 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 acquisition, the director owned 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 filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.33% of the company's stock.

Caterpillar Price Performance

Shares of CAT traded down $6.32 on Monday, hitting $391.54. The company's stock had a trading volume of 3,012,185 shares, compared to its average volume of 2,526,773. The company has a market capitalization of $184.43 billion, a PE ratio of 19.08, a PEG ratio of 2.64 and a beta of 1.38. 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 Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $418.50. The company has a 50 day moving average price of $351.96 and a 200 day moving average price of $346.74.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings data 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). Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. The firm had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.64 billion. During the same period in the prior year, the company posted $5.60 EPS. The firm's quarterly revenue was down 9.8% compared to the same quarter last year. On average, research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be issued a dividend of $1.51 per share. 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 annualized dividend and a yield of 1.54%. Caterpillar's dividend payout ratio is currently 27.49%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CAT. Morgan Stanley upgraded Caterpillar from an "underweight" rating to an "equal weight" rating and lowered their price target for the company from $300.00 to $283.00 in a research note on Wednesday, April 16th. UBS Group upgraded Caterpillar from a "sell" rating to a "neutral" rating and boosted their price target for the company from $272.00 to $357.00 in a research note on Friday, May 16th. Baird R W upgraded Caterpillar from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. DA Davidson boosted their price target on Caterpillar from $325.00 to $331.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Finally, Citigroup restated a "buy" rating and set a $420.00 price target (up from $370.00) on shares of Caterpillar in a research note on Tuesday, June 24th. 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. Based on data from MarketBeat.com, the stock has an average 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.