Alexander Labrunerie & CO. Inc. Decreases Holdings in Caterpillar Inc. (NYSE:CAT)

Alexander Labrunerie & CO. Inc. trimmed its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 4.0% during the 1st quarter, Holdings Channel reports. The institutional investor owned 3,242 shares of the industrial products company’s stock after selling 136 shares during the quarter. Alexander Labrunerie & CO. Inc.’s holdings in Caterpillar were worth $1,069,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CAT. Proficio Capital Partners LLC increased its position in shares of Caterpillar by 38.3% during the fourth quarter. Proficio Capital Partners LLC now owns 2,218 shares of the industrial products company’s stock worth $805,000 after acquiring an additional 614 shares during the period. Victrix Investment Advisors bought a new position in shares of Caterpillar during the fourth quarter valued at approximately $2,090,000. Pacific Point Advisors LLC bought a new position in shares of Caterpillar during the fourth quarter valued at approximately $579,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Caterpillar by 18.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 191,640 shares of the industrial products company’s stock valued at $63,202,000 after purchasing an additional 30,070 shares in the last quarter. Finally, Liberty Square Wealth Partners LLC boosted its stake in shares of Caterpillar by 5.8% during the first quarter. Liberty Square Wealth Partners LLC now owns 1,636 shares of the industrial products company’s stock valued at $540,000 after purchasing an additional 90 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Caterpillar news, Director David Maclennan bought 375 shares of the company’s stock in a transaction on Wednesday, May 7th. The stock was purchased at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the acquisition, the director owned 6,653 shares of the company’s stock, valued at $2,133,617.10. The trade was a 5.97% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CAT. Robert W. Baird increased their price objective on shares of Caterpillar from $395.00 to $422.00 and gave the company an “outperform” rating in a research note on Friday, June 20th. JPMorgan Chase & Co. raised their target price on shares of Caterpillar from $395.00 to $475.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Melius Research upgraded shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price objective for the company in a research note on Wednesday, July 9th. 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 note on Monday, June 23rd. Finally, Citigroup reiterated a “buy” rating and set a $420.00 price objective (up from $370.00) on shares of Caterpillar in a research note on Tuesday, June 24th. 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $412.33.

Caterpillar Trading Up 1.3%

Shares of NYSE:CAT opened at $418.22 on Friday. The company has a market cap of $197.00 billion, a PE ratio of 20.38, a P/E/G ratio of 2.73 and a beta of 1.38. The company’s 50 day moving average is $367.85 and its two-hundred day moving average is $349.43. The company has a current ratio of 1.32, a quick ratio of 0.77 and a debt-to-equity ratio of 1.43. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $419.90.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.10). The business had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.64 billion. Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. The firm’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.60 EPS. Equities analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend is Monday, July 21st. This is an increase from Caterpillar’s previous quarterly dividend of $1.41. Caterpillar’s dividend payout ratio (DPR) is currently 27.49%.

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.