Wealth Quarterback LLC Has $580,000 Holdings in Caterpillar Inc. (NYSE:CAT)

Wealth Quarterback LLC cut its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 41.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,758 shares of the industrial products company's stock after selling 1,220 shares during the quarter. Wealth Quarterback LLC's holdings in Caterpillar were worth $580,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CAT. Cyrus J. Lawrence LLC bought a new position in shares of Caterpillar in the 4th quarter worth about $27,000. Investment Management Corp VA ADV acquired a new position in shares of Caterpillar during the 4th quarter valued at $33,000. Quarry LP acquired a new position in Caterpillar during the fourth quarter worth about $35,000. Mpwm Advisory Solutions LLC acquired a new stake in Caterpillar in the 4th quarter valued at about $36,000. Finally, Mattson Financial Services LLC bought a new stake in Caterpillar during the fourth quarter worth approximately $39,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Caterpillar

In other news, Director David Maclennan bought 375 shares of the firm's stock in a transaction dated Wednesday, May 7th. The shares were bought at an average price of $320.70 per share, with a total value of $120,262.50. Following the completion of the transaction, the director owned 6,653 shares of the company's stock, valued at $2,133,617.10. This trade represents a 5.97% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.33% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently commented on CAT. UBS Group raised Caterpillar from a "sell" rating to a "neutral" rating and upped their target price for the company from $272.00 to $357.00 in a report on Friday, May 16th. Truist Financial lifted their price objective on shares of Caterpillar from $396.00 to $414.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. Baird R W raised Caterpillar from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Morgan Stanley raised shares of Caterpillar from an "underweight" rating to an "equal weight" rating and lowered their price objective for the company from $300.00 to $283.00 in a research report on Wednesday, April 16th. Finally, Bank of America boosted their price target on shares of Caterpillar from $335.00 to $385.00 and gave the company a "buy" rating in a report on Friday, May 30th. Seven equities 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's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $415.53.

Caterpillar Stock Down 0.9%

Caterpillar stock traded down $3.78 during midday trading on Monday, reaching $409.94. The stock had a trading volume of 1,833,278 shares, compared to its average volume of 2,505,604. The stock has a market capitalization of $193.10 billion, a P/E ratio of 19.98, a price-to-earnings-growth ratio of 2.74 and a beta of 1.38. The firm's fifty day simple moving average is $369.61 and its 200-day simple moving average is $349.62. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.77 and a current ratio of 1.32. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $419.90.

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). Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The company had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.64 billion. During the same period in the previous year, the company posted $5.60 EPS. The company's quarterly revenue was down 9.8% compared to the same quarter last year. As a group, analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Monday, July 21st. This is a boost from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's dividend payout ratio (DPR) is currently 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.