Novare Capital Management LLC Sells 1,300 Shares of Caterpillar Inc. (NYSE:CAT)

Novare Capital Management LLC cut its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 58.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 910 shares of the industrial products company's stock after selling 1,300 shares during the period. Novare Capital Management LLC's holdings in Caterpillar were worth $300,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in CAT. Flagship Wealth Advisors LLC bought a new position in Caterpillar in the 4th quarter valued at about $26,000. Cyrus J. Lawrence LLC bought a new position in shares of Caterpillar during the 4th quarter worth approximately $27,000. Investment Management Corp VA ADV bought a new position in shares of Caterpillar during the 4th quarter worth approximately $33,000. Quarry LP bought a new position in shares of Caterpillar during the 4th quarter worth approximately $35,000. Finally, Mpwm Advisory Solutions LLC bought a new position in shares of Caterpillar during the 4th quarter worth approximately $36,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Caterpillar

In related news, Director David Maclennan acquired 375 shares of the company's stock in a transaction dated Wednesday, May 7th. The stock was bought at an average cost of $320.70 per share, with a total value of $120,262.50. Following the acquisition, the director owned 6,653 shares of the company's stock, valued at approximately $2,133,617.10. The trade was a 5.97% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is owned by company insiders.

Caterpillar Stock Performance

Caterpillar stock traded up $3.38 during mid-day trading on Tuesday, reaching $394.89. The company's stock had a trading volume of 865,628 shares, compared to its average volume of 2,520,380. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $418.50. The company has a market capitalization of $186.01 billion, a P/E ratio of 19.24, a PEG ratio of 2.64 and a beta of 1.38. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.77 and a current ratio of 1.32. The firm's fifty day moving average price is $353.66 and its two-hundred day moving average price is $346.92.

Caterpillar (NYSE:CAT - Get Free Report) last released 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 firm had revenue of $14.25 billion for the quarter, compared to analysts' expectations of $14.64 billion. Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The firm's revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter last year, the firm earned $5.60 earnings per share. Sell-side analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be given a dividend of $1.51 per share. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Monday, July 21st. Caterpillar's payout ratio is 29.43%.

Analyst Ratings Changes

CAT has been the topic of several recent analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Caterpillar from $490.00 to $380.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Robert W. Baird lifted their target price on shares of Caterpillar from $395.00 to $422.00 and gave the stock an "outperform" rating in a research report on Friday, June 20th. DA Davidson raised their price target on shares of Caterpillar from $325.00 to $331.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. Truist Financial raised their price target on shares of Caterpillar from $396.00 to $414.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Finally, Morgan Stanley upgraded shares of 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. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus 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.