Quadcap Wealth Management LLC Decreases Position in Caterpillar Inc. (NYSE:CAT)

Quadcap Wealth Management LLC cut its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 51.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,263 shares of the industrial products company's stock after selling 1,320 shares during the period. Quadcap Wealth Management LLC's holdings in Caterpillar were worth $458,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Caterpillar by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 46,809,540 shares of the industrial products company's stock valued at $16,980,629,000 after buying an additional 284,366 shares during the last quarter. Geode Capital Management LLC raised its stake in Caterpillar by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 10,449,770 shares of the industrial products company's stock valued at $3,790,841,000 after buying an additional 236,315 shares during the last quarter. Fisher Asset Management LLC raised its stake in Caterpillar by 1.4% during the 4th quarter. Fisher Asset Management LLC now owns 9,081,775 shares of the industrial products company's stock valued at $3,294,505,000 after buying an additional 129,143 shares during the last quarter. Northern Trust Corp increased its stake in shares of Caterpillar by 11.8% in the 4th quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company's stock worth $2,483,937,000 after purchasing an additional 724,477 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Caterpillar in the 4th quarter worth $2,184,364,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Stock Performance

NYSE:CAT traded down $3.56 during mid-day trading on Tuesday, hitting $349.01. The company's stock had a trading volume of 2,264,630 shares, compared to its average volume of 2,640,007. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $418.50. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. The stock has a market cap of $164.40 billion, a price-to-earnings ratio of 15.81, a PEG ratio of 1.87 and a beta of 1.35. The business's fifty day moving average is $317.70 and its two-hundred day moving average is $353.57.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly 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 return on equity of 58.18% and a net margin of 16.65%. The firm had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.64 billion. During the same period in the prior year, the firm earned $5.60 earnings per share. The business's revenue was down 9.8% on a year-over-year basis. Analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Monday, April 21st will be given a dividend of $1.41 per share. The ex-dividend date is Monday, April 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.62%. Caterpillar's payout ratio is currently 27.49%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Oppenheimer upgraded Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 price target for the company in a research note on Thursday, May 1st. Robert W. Baird raised shares of Caterpillar from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $309.00 to $395.00 in a research note on Tuesday, May 13th. UBS Group raised shares of Caterpillar from a "sell" rating to a "neutral" rating and increased their price objective for the stock from $272.00 to $357.00 in a research report on Friday. JPMorgan Chase & Co. dropped their target price on Caterpillar from $490.00 to $380.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Finally, DA Davidson increased their price target on Caterpillar from $325.00 to $331.00 and gave the stock a "neutral" rating in a report on Monday, May 5th. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $375.33.

Insider Buying and Selling

In related news, Director David Maclennan acquired 375 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was purchased at an average price of $320.70 per share, with a total value of $120,262.50. Following the transaction, the director now owns 6,653 shares of the company's stock, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 0.33% of the stock is currently owned by corporate 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.