SteelPeak Wealth LLC Sells 909 Shares of Caterpillar Inc. (NYSE:CAT)

SteelPeak Wealth LLC cut its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 6.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,004 shares of the industrial products company's stock after selling 909 shares during the quarter. SteelPeak Wealth LLC's holdings in Caterpillar were worth $4,618,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Xponance Inc. lifted its position in shares of Caterpillar by 0.8% during the 1st quarter. Xponance Inc. now owns 70,671 shares of the industrial products company's stock worth $23,307,000 after buying an additional 544 shares during the last quarter. Country Club Bank lifted its position in shares of Caterpillar by 1.1% during the 1st quarter. Country Club Bank now owns 17,246 shares of the industrial products company's stock worth $5,686,000 after buying an additional 185 shares during the last quarter. Clarity Wealth Advisors LLC bought a new stake in shares of Caterpillar during the 1st quarter worth $357,000. Burford Brothers Inc. lifted its position in shares of Caterpillar by 5.0% during the 1st quarter. Burford Brothers Inc. now owns 3,898 shares of the industrial products company's stock worth $1,286,000 after buying an additional 185 shares during the last quarter. Finally, CFC Planning Co LLC lifted its position in shares of Caterpillar by 7.4% during the 1st quarter. CFC Planning Co LLC now owns 5,198 shares of the industrial products company's stock worth $1,714,000 after buying an additional 357 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director David Maclennan bought 375 shares of Caterpillar stock in a transaction that occurred on Wednesday, May 7th. The stock was acquired 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 directly owned 6,653 shares in the company, valued at $2,133,617.10. This represents a 5.97% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.33% of the company's stock.

Caterpillar Stock Performance

Caterpillar stock traded down $2.60 during mid-day trading on Friday, reaching $405.73. 2,072,409 shares of the company's stock were exchanged, compared to its average volume of 2,530,096. The business's fifty day simple moving average is $360.79 and its 200 day simple moving average is $348.19. The firm has a market capitalization of $191.12 billion, a PE ratio of 19.77, a P/E/G ratio of 2.71 and a beta of 1.38. Caterpillar Inc. has a one year low of $267.30 and a one year high of $418.50. The company has a quick ratio of 0.77, a current ratio of 1.32 and a debt-to-equity ratio of 1.43.

Caterpillar (NYSE:CAT - Get Free Report) last released its 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 firm had revenue of $14.25 billion during the quarter, compared to analysts' expectations of $14.64 billion. During the same period in the prior year, the business earned $5.60 earnings per share. The business's quarterly revenue was down 9.8% compared to the same quarter last year. On average, sell-side analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be given a $1.51 dividend. The ex-dividend date is Monday, July 21st. This is a boost from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a dividend yield of 1.49%. Caterpillar's payout ratio is 27.49%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CAT. Oppenheimer upgraded Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 price objective for the company in a research report on Thursday, May 1st. Robert W. Baird upped their target price on Caterpillar from $395.00 to $422.00 and gave the stock an "outperform" rating in a report on Friday, June 20th. UBS Group raised 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 report on Friday, May 16th. Morgan Stanley raised Caterpillar from an "underweight" rating to an "equal weight" rating and lowered their target price for the stock from $300.00 to $283.00 in a report on Wednesday, April 16th. Finally, Citigroup reaffirmed a "buy" rating and issued a $420.00 target price (up previously from $370.00) on shares of Caterpillar in a report on Tuesday, June 24th. Six research 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 company. According to data from MarketBeat.com, Caterpillar currently has a consensus rating of "Moderate Buy" and an average target price of $404.64.

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.