Weaver Capital Management LLC Trims Holdings in Caterpillar Inc. (NYSE:CAT)

Weaver Capital Management LLC decreased its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 29.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,201 shares of the industrial products company's stock after selling 2,630 shares during the quarter. Weaver Capital Management LLC's holdings in Caterpillar were worth $2,045,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CAT. Norges Bank purchased a new position in Caterpillar during the fourth quarter worth approximately $2,184,364,000. GAMMA Investing LLC lifted its position in Caterpillar by 43,447.3% during the first quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company's stock worth $1,230,239,000 after buying an additional 3,721,693 shares in the last quarter. Capital Research Global Investors raised its position in Caterpillar by 69.3% in the fourth quarter. Capital Research Global Investors now owns 2,924,054 shares of the industrial products company's stock valued at $1,060,730,000 after purchasing an additional 1,196,861 shares during the period. Raymond James Financial Inc. purchased a new stake in Caterpillar in the fourth quarter valued at $353,231,000. Finally, Proficio Capital Partners LLC raised its position in Caterpillar by 50,072.7% in the fourth quarter. Proficio Capital Partners LLC now owns 804,770 shares of the industrial products company's stock valued at $291,938,000 after purchasing an additional 803,166 shares during the period. Hedge funds and other institutional investors own 70.98% of the company's stock.

Insider Buying and Selling

In related news, Director David Maclennan bought 375 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was purchased at an average cost of $320.70 per share, with a total value of $120,262.50. Following the purchase, the director now directly owns 6,653 shares of the company's stock, valued at $2,133,617.10. This trade represents a 5.97% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 0.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CAT shares. Oppenheimer upgraded Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 target price on the stock in a research report on Thursday, May 1st. UBS Group upgraded Caterpillar from a "sell" rating to a "neutral" rating and lifted their target price for the company from $272.00 to $357.00 in a research report on Friday, May 16th. Morgan Stanley upgraded Caterpillar from an "underweight" rating to an "equal weight" rating and reduced their target price for the company from $300.00 to $283.00 in a research report on Wednesday, April 16th. Baird R W upgraded Caterpillar from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Finally, DA Davidson lifted their target price on Caterpillar from $325.00 to $331.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $375.17.

Caterpillar Trading Up 0.1%

Shares of NYSE CAT opened at $360.23 on Friday. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month 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. The stock has a fifty day simple moving average of $333.96 and a 200-day simple moving average of $347.14. The stock has a market capitalization of $169.68 billion, a PE ratio of 17.56, a PEG ratio of 2.40 and a beta of 1.37.

Caterpillar (NYSE:CAT - Get Free Report) last released its earnings results 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 return on equity of 53.77% and a net margin of 15.71%. The company had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.64 billion. During the same period in the previous year, the firm earned $5.60 earnings per share. The company's revenue for the quarter was down 9.8% compared to the same quarter last year. On average, equities analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.68%. This is a boost from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date is Monday, July 21st. Caterpillar's payout ratio is presently 27.49%.

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.

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