Nichols & Pratt Advisers LLP MA Sells 2,500 Shares of Caterpillar Inc. (NYSE:CAT)

Nichols & Pratt Advisers LLP MA decreased its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 3.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,895 shares of the industrial products company's stock after selling 2,500 shares during the period. Caterpillar accounts for about 1.6% of Nichols & Pratt Advisers LLP MA's holdings, making the stock its 22nd largest holding. Nichols & Pratt Advisers LLP MA's holdings in Caterpillar were worth $23,051,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Huntleigh Advisors Inc. grew its holdings in shares of Caterpillar by 1.2% during the 1st quarter. Huntleigh Advisors Inc. now owns 5,600 shares of the industrial products company's stock worth $1,847,000 after acquiring an additional 66 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Caterpillar during the 1st quarter worth approximately $270,000. IFM Investors Pty Ltd grew its holdings in shares of Caterpillar by 9.5% during the 1st quarter. IFM Investors Pty Ltd now owns 100,278 shares of the industrial products company's stock worth $33,072,000 after acquiring an additional 8,666 shares during the period. Baker Boyer National Bank grew its holdings in shares of Caterpillar by 5.9% during the 1st quarter. Baker Boyer National Bank now owns 1,001 shares of the industrial products company's stock worth $330,000 after acquiring an additional 56 shares during the period. Finally, Avantax Planning Partners Inc. grew its holdings in shares of Caterpillar by 2.2% during the 1st quarter. Avantax Planning Partners Inc. now owns 6,406 shares of the industrial products company's stock worth $2,113,000 after acquiring an additional 139 shares during the period. Institutional investors own 70.98% of the company's stock.

Insider Activity at Caterpillar

In related news, Director David Maclennan bought 375 shares of the stock in a transaction dated 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 completion of the acquisition, the director owned 6,653 shares of the company's stock, valued at $2,133,617.10. This represents a 5.97% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.33% of the company's stock.

Caterpillar Stock Performance

Caterpillar stock traded up $0.90 during trading on Friday, reaching $399.33. The company had a trading volume of 1,737,838 shares, compared to its average volume of 2,523,847. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $418.50. The firm's 50-day simple moving average is $351.96 and its 200 day simple moving average is $346.95. The firm has a market capitalization of $188.10 billion, a price-to-earnings ratio of 19.46, a price-to-earnings-growth ratio of 2.64 and a beta of 1.38. The company has a current ratio of 1.32, a quick ratio of 0.77 and a debt-to-equity ratio of 1.43.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing analysts' consensus estimates of $4.35 by ($0.10). The business had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.64 billion. Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. Caterpillar's revenue was down 9.8% compared to the same quarter last year. During the same period in the prior year, the business earned $5.60 earnings per share. Sell-side analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

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

Analysts Set New Price Targets

Several analysts recently weighed in on CAT shares. UBS Group upgraded Caterpillar from a "sell" rating to a "neutral" rating and upped their price target for the stock from $272.00 to $357.00 in a research note on Friday, May 16th. Robert W. Baird upped their price target on Caterpillar from $395.00 to $422.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. Truist Financial upped their price target on Caterpillar from $396.00 to $414.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Oppenheimer upgraded 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. Finally, Citigroup restated a "buy" rating and issued a $420.00 price target (up previously from $370.00) on shares of Caterpillar in a research note on Tuesday, June 24th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Caterpillar currently has an average rating of "Moderate Buy" and an average price target of $380.83.

Caterpillar 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.