Range Financial Group LLC Has $457,000 Stock Position in Caterpillar Inc. (NYSE:CAT)

Range Financial Group LLC reduced its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 36.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,387 shares of the industrial products company's stock after selling 783 shares during the period. Range Financial Group LLC's holdings in Caterpillar were worth $457,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Wagner Wealth Management LLC lifted its position in shares of Caterpillar by 4.0% during the fourth quarter. Wagner Wealth Management LLC now owns 668 shares of the industrial products company's stock valued at $242,000 after purchasing an additional 26 shares in the last quarter. Adell Harriman & Carpenter Inc. lifted its position in shares of Caterpillar by 1.2% during the fourth quarter. Adell Harriman & Carpenter Inc. now owns 2,256 shares of the industrial products company's stock valued at $818,000 after purchasing an additional 27 shares in the last quarter. Abacus Planning Group Inc. lifted its position in shares of Caterpillar by 1.0% during the fourth quarter. Abacus Planning Group Inc. now owns 2,897 shares of the industrial products company's stock valued at $1,051,000 after purchasing an additional 28 shares in the last quarter. Cape Investment Advisory Inc. lifted its position in shares of Caterpillar by 6.3% during the fourth quarter. Cape Investment Advisory Inc. now owns 471 shares of the industrial products company's stock valued at $171,000 after purchasing an additional 28 shares in the last quarter. Finally, Beacon Capital Management LLC lifted its position in shares of Caterpillar by 2.1% during the fourth quarter. Beacon Capital Management LLC now owns 1,432 shares of the industrial products company's stock valued at $520,000 after purchasing an additional 29 shares in the last quarter. 70.98% of the stock is owned by institutional investors.

Caterpillar Stock Performance

NYSE CAT opened at $353.49 on Monday. The company's 50 day moving average is $320.74 and its 200-day moving average is $349.40. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $418.50. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. The firm has a market cap of $166.51 billion, a P/E ratio of 16.02, a price-to-earnings-growth ratio of 1.87 and a beta of 1.37.

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 net margin of 16.65% and a return on equity of 58.18%. The business had revenue of $14.25 billion during the quarter, compared to the consensus estimate of $14.64 billion. During the same period last year, the firm earned $5.60 EPS. The business's revenue for the quarter was down 9.8% on a year-over-year basis. Sell-side analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Monday, April 21st were given a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.60%. The ex-dividend date was Monday, April 21st. Caterpillar's dividend payout ratio (DPR) is currently 27.49%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CAT shares. JPMorgan Chase & Co. dropped their price target 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. Bank of America lifted their price objective on shares of Caterpillar from $335.00 to $385.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Evercore ISI lowered their price objective on shares of Caterpillar from $375.00 to $373.00 and set an "in-line" rating on the stock in a research report on Monday, May 19th. Morgan Stanley raised shares of Caterpillar from an "underweight" rating to an "equal weight" rating and lowered their price objective for the stock from $300.00 to $283.00 in a research report on Wednesday, April 16th. Finally, UBS Group raised shares of Caterpillar from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $272.00 to $357.00 in a research report on Friday, May 16th. Six equities 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 stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $372.92.

Insider Activity

In other news, Director David Maclennan bought 375 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The shares were acquired at an average price of $320.70 per share, with a total value of $120,262.50. Following the acquisition, the director now owns 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 acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.33% of the company's stock.

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.

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