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US Bancorp DE Sells 18,185 Shares of Caterpillar Inc. (NYSE:CAT)

Caterpillar logo with Industrials background

Key Points

  • US Bancorp DE decreased its stake in Caterpillar Inc. by 3.3% in Q1, selling 18,185 shares and now owns 530,597 shares valued at approximately $175 million.
  • Caterpillar reported Q1 earnings per share of $4.25, missing analysts' expectations, with revenues of $14.25 billion, a 9.8% decline compared to the previous year.
  • The company announced an increase in its quarterly dividend to $1.51 per share, which will be paid out on August 20th, reflecting continued commitment to returning value to shareholders.
  • Five stocks to consider instead of Caterpillar.

US Bancorp DE reduced its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 3.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 530,597 shares of the industrial products company's stock after selling 18,185 shares during the quarter. US Bancorp DE owned 0.11% of Caterpillar worth $174,991,000 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 the stock. McIlrath & Eck LLC boosted its position in Caterpillar by 3.2% in the fourth quarter. McIlrath & Eck LLC now owns 962 shares of the industrial products company's stock valued at $349,000 after buying an additional 30 shares in the last quarter. Asset Management Group Inc. raised its stake in shares of Caterpillar by 0.3% in the fourth quarter. Asset Management Group Inc. now owns 10,771 shares of the industrial products company's stock valued at $3,907,000 after acquiring an additional 32 shares during the last quarter. Summit X LLC boosted its holdings in shares of Caterpillar by 3.2% in the 1st quarter. Summit X LLC now owns 1,025 shares of the industrial products company's stock worth $338,000 after acquiring an additional 32 shares in the last quarter. Menard Financial Group LLC grew its position in Caterpillar by 1.0% during the 1st quarter. Menard Financial Group LLC now owns 3,174 shares of the industrial products company's stock worth $1,019,000 after acquiring an additional 32 shares during the last quarter. Finally, Dunhill Financial LLC grew its position in Caterpillar by 21.3% during the 4th 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. 70.98% of the stock is owned by institutional investors.

Caterpillar Stock Up 0.9%

Shares of Caterpillar stock opened at $438.19 on Friday. The business has a fifty day simple moving average of $383.95 and a 200 day simple moving average of $353.96. The stock has a market cap of $206.40 billion, a PE ratio of 21.35, a price-to-earnings-growth ratio of 2.72 and a beta of 1.38. 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 Inc. has a 12 month low of $267.30 and a 12 month high of $441.15.

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 (EPS) for the quarter, missing the consensus estimate of $4.35 by ($0.10). The company 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%. Caterpillar's quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.60 earnings per share. Research analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be paid a $1.51 dividend. The ex-dividend date of this dividend 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 yield of 1.4%. Caterpillar's payout ratio is currently 29.43%.

Insider Buying and Selling

In other news, Director David Maclennan bought 375 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were bought at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the acquisition, the director owned 6,653 shares in the company, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Barclays boosted their price objective on Caterpillar from $335.00 to $383.00 and gave the stock an "equal weight" rating in a research note on Monday, July 21st. Citigroup reiterated a "buy" rating and set a $420.00 price target (up previously from $370.00) on shares of Caterpillar in a research report on Tuesday, June 24th. DA Davidson raised their price objective on shares of Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. 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 report on Friday, May 16th. Finally, Truist Financial raised their price target on shares of Caterpillar from $396.00 to $414.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Caterpillar has an average rating of "Moderate Buy" and a consensus price target of $419.33.

View Our Latest Stock Report on CAT

Caterpillar Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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