Caterpillar Inc. (NYSE:CAT) Shares Sold by Ramirez Asset Management Inc.

Key Points

• Ramirez Asset Management Inc. reduced its stake in Caterpillar Inc. by 45.7%, leaving it with a total of $1.12 million in shares after selling 2,848 shares in the first quarter.
• Caterpillar has declared a quarterly dividend of $1.51, reflecting an increase from its previous quarterly dividend of $1.41, with a dividend yield of 1.39%.
• Several analysts have raised their price targets for Caterpillar, with estimates ranging from $420.00 to $483.00, indicating a positive outlook for the stock.

Ramirez Asset Management Inc. decreased its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 45.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,390 shares of the industrial products company's stock after selling 2,848 shares during the period. Ramirez Asset Management Inc.'s holdings in Caterpillar were worth $1,118,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. McIlrath & Eck LLC increased its holdings in shares of Caterpillar by 3.2% in the 4th quarter. McIlrath & Eck LLC now owns 962 shares of the industrial products company's stock valued at $349,000 after purchasing an additional 30 shares during the period. Asset Management Group Inc. raised its stake in Caterpillar by 0.3% during the fourth quarter. Asset Management Group Inc. now owns 10,771 shares of the industrial products company's stock worth $3,907,000 after acquiring an additional 32 shares in the last quarter. Summit X LLC increased its stake in shares of Caterpillar by 3.2% in the first quarter. Summit X LLC now owns 1,025 shares of the industrial products company's stock valued at $338,000 after buying an additional 32 shares in the last quarter. Dunhill Financial LLC increased its position in Caterpillar by 21.3% in the fourth quarter. Dunhill Financial LLC now owns 205 shares of the industrial products company's stock worth $75,000 after purchasing an additional 36 shares during the period. Finally, Silvia Mccoll Wealth Management LLC boosted its holdings in Caterpillar by 2.1% during the first quarter. Silvia Mccoll Wealth Management LLC now owns 1,752 shares of the industrial products company's stock worth $578,000 after buying an additional 36 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Insider Transactions at Caterpillar

In other news, Director David Maclennan bought 375 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were bought at an average price of $320.70 per share, with a total value of $120,262.50. Following the completion of the transaction, the director directly owned 6,653 shares in the company, valued at $2,133,617.10. This trade represents a 5.97% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.33% of the stock is currently owned by insiders.

Caterpillar Price Performance

CAT stock traded down $8.91 during trading on Friday, hitting $429.11. The stock had a trading volume of 2,799,321 shares, compared to its average volume of 2,697,057. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.32 and a quick ratio of 0.77. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $441.15. The stock has a market capitalization of $202.13 billion, a P/E ratio of 20.90, a PEG ratio of 2.72 and a beta of 1.38. The company's 50-day moving average price is $383.95 and its two-hundred day moving average price is $353.96.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings data 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). Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The business had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.64 billion. During the same quarter in the prior year, the company posted $5.60 earnings per share. The company's revenue was down 9.8% on a year-over-year basis. As a group, research analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be given a $1.51 dividend. The ex-dividend date of this dividend is Monday, July 21st. 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 yield of 1.4%. Caterpillar's dividend payout ratio is presently 29.43%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CAT. Bank of America upped their price objective on Caterpillar from $335.00 to $385.00 and gave the company a "buy" rating in a report on Friday, May 30th. DA Davidson lifted their price target on Caterpillar from $331.00 to $388.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Citigroup restated a "buy" rating and issued a $420.00 target price (up from $370.00) on shares of Caterpillar in a research note on Tuesday, June 24th. Evercore ISI decreased their price objective on Caterpillar from $375.00 to $373.00 and set an "in-line" rating on the stock in a research note on Monday, May 19th. Finally, Melius Research upgraded Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 target price on the stock in a research note on Wednesday, July 9th. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock 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.