Monetary Management Group Inc. Cuts Stake in Caterpillar Inc. $CAT

Key Points

• Monetary Management Group Inc. reduced its stake in Caterpillar Inc. by 19.7%, owning 8,212 shares valued at approximately $2.7 million after selling 2,015 shares in the first quarter.
• Caterpillar recently declared a quarterly dividend of $1.51 per share, reflecting an increase from its previous dividend of $1.41, with a current yield of 1.4%.
• Analysts have raised price targets for Caterpillar, with Bank of America adjusting its target from $460 to $495 while maintaining a "buy" rating, indicating strong investor confidence.

Monetary Management Group Inc. lowered its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 19.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,212 shares of the industrial products company's stock after selling 2,015 shares during the period. Monetary Management Group Inc.'s holdings in Caterpillar were worth $2,708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Northern Trust Corp boosted its holdings in shares of Caterpillar by 11.8% during the 4th quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company's stock valued at $2,483,937,000 after purchasing an additional 724,477 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Caterpillar by 8.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,940,391 shares of the industrial products company's stock worth $1,429,416,000 after buying an additional 312,878 shares in the last quarter. 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 valued at $1,230,239,000 after buying an additional 3,721,693 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Caterpillar by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company's stock valued at $1,089,798,000 after buying an additional 15,347 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Caterpillar by 9.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company's stock worth $1,064,951,000 after acquiring an additional 268,300 shares during the last quarter. Institutional investors own 70.98% of the company's stock.

Insider Activity at Caterpillar

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of the firm's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $410.00, for a total value of $952,840.00. Following the completion of the transaction, the director owned 6,917 shares of the company's stock, valued at approximately $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction on Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the sale, the insider owned 8,632 shares of the company's stock, valued at $3,605,586.40. The trade was a 20.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.33% of the company's stock.

Caterpillar Price Performance

NYSE CAT opened at $417.4240 on Friday. The firm's fifty day simple moving average is $404.15 and its two-hundred day simple moving average is $357.31. The firm has a market capitalization of $195.55 billion, a P/E ratio of 21.23, a P/E/G ratio of 2.51 and a beta of 1.40. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $441.15.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing analysts' consensus estimates of $4.88 by ($0.16). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The business had revenue of $16.57 billion during the quarter, compared to analyst estimates of $16.14 billion. During the same period in the previous year, the business earned $5.99 EPS. The firm's revenue for the quarter was down .7% compared to the same quarter last year. Analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st were issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 1.4%. This is an increase from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date was Monday, July 21st. Caterpillar's dividend payout ratio is currently 30.72%.

Analysts Set New Price Targets

CAT has been the subject of several recent analyst reports. Bank of America boosted their target price on Caterpillar from $460.00 to $495.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. JPMorgan Chase & Co. increased their target price on Caterpillar from $475.00 to $520.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Melius upgraded shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price objective for the company in a report on Wednesday, July 9th. Evercore ISI upgraded shares of Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 target price on the stock in a research note on Tuesday. Finally, Barclays boosted their price target on Caterpillar from $383.00 to $425.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $450.87.

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.

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