Caterpillar Inc. (NYSE:CAT) Shares Purchased by Retirement Planning Co of New England Inc.

Retirement Planning Co of New England Inc. lifted its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 358.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,605 shares of the industrial products company's stock after acquiring an additional 8,291 shares during the quarter. Caterpillar makes up 0.9% of Retirement Planning Co of New England Inc.'s portfolio, making the stock its 28th biggest position. Retirement Planning Co of New England Inc.'s holdings in Caterpillar were worth $3,498,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CAT. McIlrath & Eck LLC lifted its position in Caterpillar by 3.2% during the fourth quarter. McIlrath & Eck LLC now owns 962 shares of the industrial products company's stock worth $349,000 after buying an additional 30 shares in the last quarter. Asset Management Group Inc. lifted its position 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 buying an additional 32 shares in the last quarter. Summit X LLC lifted its position in Caterpillar by 3.2% during the first quarter. Summit X LLC now owns 1,025 shares of the industrial products company's stock worth $338,000 after buying an additional 32 shares in the last quarter. Dunhill Financial LLC increased its stake in Caterpillar by 21.3% during the fourth quarter. Dunhill Financial LLC now owns 205 shares of the industrial products company's stock worth $75,000 after acquiring an additional 36 shares during the last quarter. Finally, Silvia Mccoll Wealth Management LLC increased its stake 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 acquiring an additional 36 shares during the last quarter. Institutional investors own 70.98% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CAT shares. UBS Group raised Caterpillar from a "sell" rating to a "neutral" rating and raised their target price for the stock from $272.00 to $357.00 in a research note on Friday, May 16th. Citigroup reissued a "buy" rating and set a $420.00 target price (up previously from $370.00) on shares of Caterpillar in a research note on Tuesday, June 24th. Melius raised Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 target price for the company in a research note on Wednesday, July 9th. Sanford C. Bernstein reissued a "market perform" rating on shares of Caterpillar in a research note on Monday. Finally, Evercore ISI dropped their price objective on Caterpillar from $375.00 to $373.00 and set an "in-line" rating for the company in a research note on Monday, May 19th. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $412.33.

Insider Buying and Selling at Caterpillar

In other news, Director David Maclennan bought 375 shares of Caterpillar stock in a transaction dated Wednesday, May 7th. The stock was acquired 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. This trade represents a 5.97% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.33% of the company's stock.

Caterpillar Stock Down 1.0%

NYSE CAT traded down $4.19 during trading on Friday, reaching $413.88. 2,525,098 shares of the company's stock were exchanged, compared to its average volume of 2,517,427. The stock has a market cap of $194.95 billion, a P/E ratio of 20.17, a price-to-earnings-growth ratio of 2.73 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 company has a 50 day moving average price of $367.85 and a two-hundred day moving average price of $349.43. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $419.90.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $14.64 billion. During the same period last year, the firm earned $5.60 earnings per share. The firm's quarterly revenue was down 9.8% on a year-over-year basis. On average, equities research analysts anticipate 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. Stockholders of record on Monday, July 21st will be issued a $1.51 dividend. This is an increase from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Monday, July 21st. Caterpillar's 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.