Strategic Investment Advisors MI Sells 2,568 Shares of Caterpillar Inc. (NYSE:CAT)

Strategic Investment Advisors MI lowered its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 60.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,696 shares of the industrial products company's stock after selling 2,568 shares during the quarter. Strategic Investment Advisors MI's holdings in Caterpillar were worth $559,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CAT. Flagship Wealth Advisors LLC bought a new stake in Caterpillar during the fourth quarter worth about $26,000. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Caterpillar during the 4th quarter worth approximately $27,000. Cyrus J. Lawrence LLC bought a new stake in shares of Caterpillar during the 4th quarter worth approximately $27,000. Noble Wealth Management PBC acquired a new stake in shares of Caterpillar in the 4th quarter valued at approximately $31,000. Finally, Investment Management Corp VA ADV bought a new position in shares of Caterpillar in the fourth quarter valued at $33,000. 70.98% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Caterpillar news, Director David Maclennan purchased 375 shares of the company's stock in a transaction dated Wednesday, May 7th. The stock was bought 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 now owns 6,653 shares in the company, valued at approximately $2,133,617.10. This represents a 5.97% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.33% of the company's stock.

Caterpillar Stock Performance

NYSE:CAT opened at $371.63 on Thursday. The stock has a 50 day simple moving average of $338.55 and a 200 day simple moving average of $346.61. The stock has a market cap of $175.05 billion, a P/E ratio of 18.11, a PEG ratio of 2.48 and a beta of 1.37. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $418.50. The company has a current ratio of 1.32, a quick ratio of 0.77 and a debt-to-equity ratio of 1.43.

Caterpillar (NYSE:CAT - Get Free Report) last posted its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share for the quarter, missing analysts' consensus estimates of $4.35 by ($0.10). The firm had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.64 billion. Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. The firm's quarterly revenue was down 9.8% compared to the same quarter last year. During the same period in the prior year, the business posted $5.60 EPS. Research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be issued a $1.51 dividend. The ex-dividend date is Monday, July 21st. This represents a $6.04 dividend on an annualized basis and a yield of 1.63%. This is an increase from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's payout ratio is currently 27.49%.

Analyst Ratings Changes

Several research firms have issued reports on CAT. Truist Financial upped their price target on shares of Caterpillar from $396.00 to $414.00 and gave the stock a "buy" rating in a research report on Monday. Citigroup boosted their price objective on shares of Caterpillar from $370.00 to $420.00 and gave the stock a "buy" rating in a research note on Tuesday. Robert W. Baird raised their target price on shares of Caterpillar from $395.00 to $422.00 and gave the company an "outperform" rating in a research note on Friday, June 20th. Oppenheimer raised Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 price target on the stock in a research report on Thursday, May 1st. Finally, UBS Group upgraded Caterpillar from a "sell" rating to a "neutral" rating and upped their price objective for the company from $272.00 to $357.00 in a research note on Friday, May 16th. Six 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 company. Based on data from MarketBeat.com, Caterpillar has an average rating of "Moderate Buy" and a consensus price target of $380.83.

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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