Robertson Stephens Wealth Management LLC Lowers Stock Position in Caterpillar Inc. (NYSE:CAT)

Robertson Stephens Wealth Management LLC lessened its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 8.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,053 shares of the industrial products company's stock after selling 1,487 shares during the quarter. Robertson Stephens Wealth Management LLC's holdings in Caterpillar were worth $5,294,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Flagship Wealth Advisors LLC bought a new stake in shares of Caterpillar in the 4th quarter worth $26,000. Halbert Hargrove Global Advisors LLC bought a new stake in shares of Caterpillar in the 4th quarter worth $27,000. Cyrus J. Lawrence LLC bought a new stake in shares of Caterpillar in the 4th quarter worth $27,000. Noble Wealth Management PBC bought a new stake in shares of Caterpillar in the 4th quarter worth $31,000. Finally, Investment Management Corp VA ADV bought a new stake in shares of Caterpillar in the 4th quarter worth $33,000. Institutional investors own 70.98% of the company's stock.

Insider Transactions at Caterpillar

In other news, Director David Maclennan purchased 375 shares of the stock in a transaction dated Wednesday, May 7th. The shares were purchased at an average cost of $320.70 per share, with a total value of $120,262.50. Following the completion of the acquisition, 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CAT shares. DA Davidson upped their target price on shares of Caterpillar from $325.00 to $331.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. UBS Group upgraded shares of Caterpillar from a "sell" rating to a "neutral" rating and upped their target price for the stock from $272.00 to $357.00 in a research note on Friday, May 16th. Bank of America increased their price target on shares of Caterpillar from $335.00 to $385.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Evercore ISI reduced their price target on shares of Caterpillar from $375.00 to $373.00 and set an "in-line" rating for the company in a research report on Monday, May 19th. Finally, Baird R W upgraded shares of Caterpillar from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $372.92.

Caterpillar Stock Performance

NYSE CAT traded up $2.05 during trading on Wednesday, hitting $359.73. 1,999,937 shares of the company's stock traded hands, compared to its average volume of 2,548,754. The stock has a market capitalization of $169.45 billion, a price-to-earnings ratio of 17.53, a PEG ratio of 2.38 and a beta of 1.37. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $418.50. 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 business has a 50 day moving average of $330.03 and a 200-day moving average of $347.62.

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

Caterpillar Increases Dividend

The company also recently declared 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 represents a $6.04 dividend on an annualized basis and a dividend yield of 1.68%. This is an increase 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%.

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.