Raleigh Capital Management Inc. Has $634,000 Position in Caterpillar Inc. (NYSE:CAT)

Raleigh Capital Management Inc. decreased its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 39.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,922 shares of the industrial products company's stock after selling 1,269 shares during the period. Raleigh Capital Management Inc.'s holdings in Caterpillar were worth $634,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CAT. Flagship Wealth Advisors LLC purchased a new position in shares of Caterpillar during the 4th quarter valued at $26,000. Cyrus J. Lawrence LLC purchased a new position in shares of Caterpillar during the 4th quarter valued at $27,000. Investment Management Corp VA ADV purchased a new position in shares of Caterpillar during the 4th quarter valued at $33,000. Curat Global LLC bought a new stake in Caterpillar in the first quarter worth $33,000. Finally, Redmont Wealth Advisors LLC bought a new stake in Caterpillar in the first quarter worth $33,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director David Maclennan bought 375 shares of Caterpillar stock in a transaction dated Wednesday, May 7th. The shares were bought at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the transaction, the director owned 6,653 shares of the company's stock, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. DA Davidson upped their price objective on shares of Caterpillar from $325.00 to $331.00 and gave the stock a "neutral" rating in a report on Monday, May 5th. Morgan Stanley upgraded shares of Caterpillar from an "underweight" rating to an "equal weight" rating and decreased their price objective for the stock from $300.00 to $283.00 in a report on Wednesday, April 16th. Baird R W upgraded shares of Caterpillar from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Bank of America upped their price objective on shares of Caterpillar from $335.00 to $385.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Caterpillar from $490.00 to $380.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $380.83.

Caterpillar Price Performance

NYSE:CAT traded up $2.71 during mid-day trading on Tuesday, hitting $394.22. The company's stock had a trading volume of 1,996,008 shares, compared to its average volume of 2,527,135. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $418.50. The company has a current ratio of 1.32, a quick ratio of 0.77 and a debt-to-equity ratio of 1.43. The company has a market capitalization of $185.69 billion, a price-to-earnings ratio of 19.05, a P/E/G ratio of 2.60 and a beta of 1.38. The stock has a fifty day moving average of $353.66 and a 200-day moving average of $346.92.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.35 by ($0.10). Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. The business had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.64 billion. During the same period last year, the company earned $5.60 EPS. The business's revenue for the quarter was down 9.8% on a year-over-year basis. As a group, equities analysts forecast that Caterpillar Inc. will post 19.86 EPS 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 given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.53%. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date is Monday, July 21st. Caterpillar's dividend payout ratio is presently 27.49%.

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.