Oppenheimer Asset Management Inc. Decreases Stock Position in Caterpillar Inc. (NYSE:CAT)

Oppenheimer Asset Management Inc. lowered its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 4.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 55,043 shares of the industrial products company's stock after selling 2,332 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Caterpillar were worth $18,153,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Pacific Point Advisors LLC purchased a new stake in Caterpillar in the fourth quarter worth $579,000. Brighton Jones LLC increased its stake in Caterpillar by 51.5% in the fourth quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company's stock worth $2,688,000 after purchasing an additional 2,519 shares during the period. Union Bancaire Privee UBP SA purchased a new stake in Caterpillar in the fourth quarter worth $7,396,000. Pinnacle Financial Partners Inc increased its stake in Caterpillar by 0.3% in the fourth quarter. Pinnacle Financial Partners Inc now owns 18,553 shares of the industrial products company's stock worth $7,008,000 after purchasing an additional 58 shares during the period. Finally, Fisher Funds Management LTD bought a new position in shares of Caterpillar during the 4th quarter worth $3,640,000. Institutional investors own 70.98% of the company's stock.

Caterpillar Stock Up 1.9%

Shares of NYSE CAT traded up $7.03 during mid-day trading on Tuesday, reaching $373.26. 3,833,227 shares of the company were exchanged, compared to its average volume of 2,540,202. The company has a quick ratio of 0.77, a current ratio of 1.32 and a debt-to-equity ratio of 1.43. The stock has a market cap of $175.82 billion, a price-to-earnings ratio of 18.19, a P/E/G ratio of 2.44 and a beta of 1.37. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $418.50. The firm has a 50-day moving average of $336.93 and a 200 day moving average of $346.43.

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 for the quarter, missing analysts' consensus estimates of $4.35 by ($0.10). The company had revenue of $14.25 billion for the quarter, compared to analysts' expectations of $14.64 billion. Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. The company's revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter last year, the company earned $5.60 earnings per share. On average, research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be paid a $1.51 dividend. The ex-dividend date of this dividend is Monday, July 21st. This is a boost from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 dividend on an annualized basis and a yield of 1.62%. Caterpillar's dividend payout ratio (DPR) is 27.49%.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director David Maclennan purchased 375 shares of the firm's stock in a transaction on Wednesday, May 7th. The stock was bought at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the purchase, the director now owns 6,653 shares in the company, valued at $2,133,617.10. This represents a 5.97% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CAT shares. Wall Street Zen downgraded Caterpillar from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Citigroup increased their price target on Caterpillar from $370.00 to $420.00 and gave the stock a "buy" rating in a research report on Tuesday. JPMorgan Chase & Co. dropped their price target on Caterpillar from $490.00 to $380.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Baird R W raised Caterpillar from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Finally, Bank of America increased their price target on Caterpillar from $335.00 to $385.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Six 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. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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.