Moors & Cabot Inc. Decreases Stock Position in Caterpillar Inc. (NYSE:CAT)

Key Points

• Moors & Cabot Inc. has decreased its stake in Caterpillar Inc. by 15.3%, owning 17,965 shares worth approximately $5.93 million after selling 3,236 shares in Q1.
• Caterpillar recently reported earnings of $4.25 per share, missing analyst expectations of $4.35, along with a quarterly revenue of $14.25 billion, down 9.8% year-over-year.
• The company raised its quarterly dividend to $1.51 per share, with a current dividend yield of 1.4%, signaling continued financial health despite recent earnings misses.

Moors & Cabot Inc. trimmed its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 15.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,965 shares of the industrial products company's stock after selling 3,236 shares during the quarter. Moors & Cabot Inc.'s holdings in Caterpillar were worth $5,925,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Investment Management Corp VA ADV bought a new stake in Caterpillar in the fourth quarter worth about $33,000. Curat Global LLC purchased a new stake in shares of Caterpillar in the first quarter worth approximately $33,000. Redmont Wealth Advisors LLC bought a new stake in shares of Caterpillar during the 1st quarter worth approximately $33,000. Quarry LP purchased a new position in Caterpillar during the 4th quarter valued at $35,000. Finally, Mpwm Advisory Solutions LLC bought a new position in Caterpillar in the 4th quarter valued at $36,000. Institutional investors own 70.98% of the company's stock.

Caterpillar Price Performance

CAT opened at $438.19 on Friday. The firm has a market capitalization of $206.40 billion, a PE ratio of 21.35, a price-to-earnings-growth ratio of 2.72 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. The business's 50-day moving average is $383.95 and its two-hundred day moving average is $353.96. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $441.15.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $14.64 billion. During the same period in the previous year, the firm earned $5.60 EPS. The firm's quarterly revenue was down 9.8% on a year-over-year basis. Research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be issued a dividend of $1.51 per share. The ex-dividend date is Monday, July 21st. This represents a $6.04 annualized dividend and a dividend yield of 1.4%. This is a boost from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's dividend payout ratio (DPR) is currently 29.43%.

Insider Activity at Caterpillar

In other Caterpillar news, Director David Maclennan bought 375 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The shares were purchased at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the purchase, the director directly 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.33% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CAT. Morgan Stanley raised shares of Caterpillar from an "underweight" rating to an "equal weight" rating and lowered their target price for the company from $300.00 to $283.00 in a research note on Wednesday, April 16th. Bank of America upped their target price on shares of Caterpillar from $335.00 to $385.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Melius Research raised shares of Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price target for the company in a research note on Wednesday, July 9th. Robert W. Baird increased their price objective on Caterpillar from $395.00 to $422.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. Finally, UBS Group upgraded 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. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $419.33.

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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