Caterpillar Inc. (NYSE:CAT) Position Cut by Westmount Partners LLC

Westmount Partners LLC decreased its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 29.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,834 shares of the industrial products company's stock after selling 751 shares during the quarter. Westmount Partners LLC's holdings in Caterpillar were worth $605,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC purchased a new stake in Caterpillar in the 4th quarter valued at about $26,000. Cyrus J. Lawrence LLC purchased a new stake in Caterpillar in the 4th quarter valued at about $27,000. Investment Management Corp VA ADV purchased a new stake in Caterpillar in the 4th quarter valued at about $33,000. Quarry LP purchased a new stake in Caterpillar in the 4th quarter valued at about $35,000. Finally, Mpwm Advisory Solutions LLC purchased a new stake in Caterpillar in the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 70.98% of the company's stock.

Caterpillar Stock Down 0.6%

Shares of CAT traded down $2.60 during trading on Friday, reaching $405.73. The company's stock had a trading volume of 2,072,409 shares, compared to its average volume of 2,530,412. The company has a fifty day moving average of $360.79 and a two-hundred day moving average of $348.06. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $418.50. The company has a market cap of $191.12 billion, a price-to-earnings ratio of 19.77, a P/E/G ratio of 2.70 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 (NYSE:CAT - Get Free Report) last announced its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.35 by ($0.10). Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The business 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 earned $5.60 earnings per share. The business's revenue for the quarter was down 9.8% on a year-over-year basis. On average, sell-side analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be given a dividend of $1.51 per share. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a dividend yield of 1.49%. The ex-dividend date is Monday, July 21st. Caterpillar's dividend payout ratio is currently 27.49%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CAT shares. Oppenheimer upgraded Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 target price for the company in a report on Thursday, May 1st. UBS Group upgraded Caterpillar from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $272.00 to $357.00 in a report on Friday, May 16th. Evercore ISI decreased their target price on Caterpillar from $375.00 to $373.00 and set an "in-line" rating for the company in a report on Monday, May 19th. Morgan Stanley upgraded Caterpillar from an "underweight" rating to an "equal weight" rating and decreased their target price for the stock from $300.00 to $283.00 in a report on Wednesday, April 16th. Finally, Bank of America boosted their target price on Caterpillar from $335.00 to $385.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $404.64.

Insider Activity

In other news, Director David Maclennan purchased 375 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The shares were acquired at an average cost of $320.70 per share, with a total value of $120,262.50. Following the transaction, the director owned 6,653 shares in the company, valued at approximately $2,133,617.10. The trade was a 5.97% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.33% of the company's stock.

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.