Virtu Financial LLC Sells 8,070 Shares of Caterpillar Inc. (NYSE:CAT)

Key Points

• Virtu Financial LLC sold 8,070 shares of Caterpillar Inc., reducing its holdings by 56.9%, leaving it with 6,121 shares valued at $2,019,000 at the end of Q1.
• Several large investors significantly increased their stakes in Caterpillar, with GAMMA Investing LLC growing its position by over 43,000% and Pacer Advisors Inc. by over 2,700% during the same quarter.
• Caterpillar recently announced a dividend increase to $1.51 per share, up from $1.41, reflecting a 1.5% yield and a payout ratio of 30.72%.

Virtu Financial LLC lowered its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 56.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,121 shares of the industrial products company's stock after selling 8,070 shares during the period. Virtu Financial LLC's holdings in Caterpillar were worth $2,019,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Investment Management Corp VA ADV acquired a new stake in Caterpillar during the 4th quarter worth approximately $33,000. Curat Global LLC purchased a new stake in Caterpillar during the 1st quarter worth $33,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Caterpillar during the first quarter worth approximately $33,000. Quarry LP acquired a new position in shares of Caterpillar in the 4th quarter worth approximately $35,000. Finally, Mpwm Advisory Solutions LLC acquired a new position in shares of Caterpillar in the 4th quarter valued at about $36,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Performance

Shares of Caterpillar stock traded up $3.70 during midday trading on Thursday, hitting $417.40. The company had a trading volume of 3,666,718 shares, compared to its average volume of 2,759,165. The stock has a market cap of $195.54 billion, a PE ratio of 21.23, a P/E/G ratio of 2.46 and a beta of 1.40. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $441.15. The business's 50 day simple moving average is $397.18 and its two-hundred day simple moving average is $355.91. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81.

Caterpillar (NYSE:CAT - Get Free Report) last released its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing analysts' consensus estimates of $4.88 by ($0.16). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%. The firm had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. During the same period last year, the business earned $5.99 earnings per share. The firm's quarterly revenue was down .7% compared to the same quarter last year. As a group, equities analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently declared 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. This is a boost from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date of this dividend is Monday, July 21st. This represents a $6.04 annualized dividend and a yield of 1.4%. Caterpillar's payout ratio is presently 30.72%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Melius upgraded Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 target price on the stock in a research report on Wednesday, July 9th. Bank of America lifted their price objective on Caterpillar from $460.00 to $495.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Oppenheimer upped their target price on Caterpillar from $395.00 to $483.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Baird R W upgraded Caterpillar from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Finally, Robert W. Baird increased their price objective on Caterpillar from $395.00 to $422.00 and gave the stock an "outperform" rating in a report on Friday, June 20th. Seven equities research 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 stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $444.00.

Insider Transactions at Caterpillar

In other news, insider Jason Kaiser sold 2,161 shares of the firm's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the transaction, the insider directly owned 8,632 shares of the company's stock, valued at approximately $3,605,586.40. This trade represents a 20.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is owned by company insiders.

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.